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Listing Agency: Century 21 Turner Brokers Show Phone

Listed By: Thomas Turner · License #10311200036 Show Phone

Source: Nicholcityrealty

Added: Jul 25 Changed: Oct 9 Last Checked: Oct 14 at 10:54PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Turner Brokers

Investment Insights

Based on property information with market context.

This 10,045-square-foot mixed-use property combines a commercial area with two residential apartments positioned above it. The arrangement brings business and residential functions together within one building, while the upper-level units can support rental occupancy or owner-occupied use.

Two drive-in garages add dedicated vehicle access and supplementary storage capacity. The commercial portion is described as flexible space for a variety of business uses, giving the property a combination of commercial, residential, and garage components. The building is located at 813-815 Foote Avenue in Jamestown, New York.

Key Highlights

• 10,045‑square‑foot mixed‑use property
• Commercial space with two residential apartments above
• Two drive‑in garages provide vehicle access and storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,123

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,322,460 $1.3M

Cap Rate 7%

$944,614 $944.6K

Cap Rate 9%

$734,700 $734.7K

What to ask about pricing

Market Conditions

NOI Build-Up for 10,045 SF

Gross rent

$121.7K $12.12/SF

− Vacancy

−$15.9K −$1.59/SF

EGI

$105.8K $10.53/SF

− OpEx

−$39.7K −$3.95/SF

NOI

$66.1K $6.58/SF

Area

Chautauqua County, NY

Vacancy

13.10%

Lease Rate

$12.12 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,322,460

Cap Rate 7%

$944,614

Cap Rate 9%

$734,700

Alternative Uses

Best Use

Multifamily LT 5

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,117 @ 7.0% cap · market cap 692,641.67%

Second Best

Apartment 5plus

$1.09M

$950.6K – $1.27M (±1% cap)

NOI $76,048 @ 7.0% cap · market cap 633,733.33%

Theoretical Best

Office A

$3.01M

$2.63M – $3.51M (±1% cap)

NOI $210,463 @ 7.0% cap · market cap 1,753,858.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Dental Office Restaurant Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Explore this area Business Placement

Demographics for 14701, NY

38,428

Population

19,469

Households

2

Avg Household Size

42

Median Age

25%

College-Educated

90%

High-School Grad

92.6 sq mi

ZIP Area

415

Density / Sq Mi

$50,909

Median Household Income

$34,592

Median Earnings

$769

Median Rent

$98,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space, two apartments, and dual drive-in garages combine business and residential components.

Where is this mixed-use property located?

The property is located at 813-815 Foote Avenue Jamestown, NY.

What are key features of this property?

This property features: 10,045‑square‑foot mixed‑use property; Commercial space with two residential apartments above; Two drive‑in garages provide vehicle access and storage