Building Details

Building Size 2,644 SF

Year Built 1850

Listing Agency: Keller Williams Realty WNY

Listed By: Dorothy Haenggi · License #10401238897 Show Phone

Source: Griffith-realty

Added: Sep 11 Changed: Sep 14 Last Checked: Sep 15 at 9:20AM

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Investment Insights

Based on property information with market context.

This 2,644-square-foot duplex, built in 1850, includes a three-bedroom, two-bath first-floor residence and a one-bedroom, one-bath second-floor unit. The main residence has a primary suite with walk-in closet, sitting area, private bath, and in-unit laundry. Its kitchen was renovated in 2017 and includes a Capital 6-burner chef’s range, convection wall oven, and walk-in pantry. The upper unit has its own entrance, eat-in kitchen, laundry, and large living room.

Located at 823 Main Road in Pembroke, NY, the property occupies approximately 1.5 acres of landscaped grounds within the Pembroke School District. A four-car garage provides storage and workspace, while the parking pad accommodates 6–8 vehicles. The combination of separate living areas, outdoor space, and on-site parking supports owner occupancy, rental income, or multigenerational use.

Key Highlights

• Two‑unit layout with 3‑bedroom and 1‑bedroom residences
• 2,644 square feet on approximately 1.5 acres
• First‑floor kitchen renovated in 2017

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$24,279

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.47%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$485,580 $485.6K

Cap Rate 7%

$346,843 $346.8K

Cap Rate 9%

$269,767 $269.8K

Market Conditions

NOI Build-Up for 2,644 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$36.5K $13.80/SF

− Vacancy

−$1.8K −$0.68/SF

EGI

$34.7K $13.12/SF

− OpEx

−$10.4K −$3.94/SF

NOI

$24.3K $9.18/SF

Area

Genesee County, NY

Vacancy

4.94%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$485,580

Cap Rate 7%

$346,843

Cap Rate 9%

$269,767

Alternative Uses

Best Use

Multifamily LT 5

$346.8K

$303.5K – $404.7K (±1% cap)

NOI $24,279 @ 7.0% cap · market cap 7.47%

Second Best

Apartment 5plus

$302.5K

$264.7K – $352.9K (±1% cap)

NOI $21,175 @ 7.0% cap · market cap 6.52%

Theoretical Best

Warehouse

$2.45M

$2.15M – $2.86M (±1% cap)

NOI $171,791 @ 7.0% cap · market cap 52.86%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply HVAC Service Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Auto Repair Shop Hair Salon

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Explore this area Business Placement

Demographics for 14036, NY

4,931

Population

2,521

Households

2

Avg Household Size

46

Median Age

19%

College-Educated

95%

High-School Grad

53.6 sq mi

ZIP Area

92

Density / Sq Mi

$91,806

Median Household Income

$46,506

Median Earnings

$923

Median Rent

$184,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Separate entrances, flexible living arrangements, and substantial outdoor space support owner occupancy or rental use.

Where is this duplex located?

The property is located at 823 Main Road Pembroke, NY.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Two‑unit layout with 3‑bedroom and 1‑bedroom residences; 2,644 square feet on approximately 1.5 acres; First‑floor kitchen renovated in 2017