Park Model Residential
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8248 Griswold Lot 83, Akron, NY 14001
Park model home with a private bedroom, open living areas, and a covered porch for outdoor use.
Property Size400 SF
Days on Market2
Property Features for 8248 Griswold Lot 83
General Information
Standard status
Active
Size
400 SF
Property subtype
Land
Building Details
Building Size
400 SF
Year Built
1994
Stories
1
Listed By:
Bonneta Nobles
(716) 467-7521
Source:
Elliman
Added: Sep 20
Last Checked: Sep 20 at 2:55PM
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 Bonneta Nobles
Investment Insights
Based on property information with market context.
This 1994-built park model home is located at Woodside Camp Ground and includes a private primary bedroom, a compact kitchen, dining area, and living room arranged in an open layout. The living room can be converted into an additional sleeping area, adding flexibility to the interior configuration.
A covered front porch extends the usable space for dining, relaxation, or entertaining. The lot also features established landscaping, creating a finished outdoor setting around the home. The property is identified as a residential income property and is located at 8248 Griswold Lot 83 in Arkwright, NY.
A covered front porch extends the usable space for dining, relaxation, or entertaining. The lot also features established landscaping, creating a finished outdoor setting around the home. The property is identified as a residential income property and is located at 8248 Griswold Lot 83 in Arkwright, NY.
Key Highlights
- 1994‑built park model home at Woodside Camp Ground
- Private primary bedroom
- Open kitchen, dining, and living room arrangement
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
$2,309
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
7.83%
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%
$46,180
$46.2K
Cap Rate 7%
$32,986
$33.0K
Cap Rate 9%
$25,656
$25.7K
Market Conditions
NOI Build-Up for 400 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
$6.5K $16.20/SF
− Vacancy
−$2.3K −$5.70/SF
EGI
$4.2K $10.50/SF
− OpEx
−$1.9K −$4.72/SF
NOI
$2.3K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$46,180
Cap Rate 7%
$32,986
Cap Rate 9%
$25,656
Alternative Uses
Best Use
Apartment 5plus
$33.0K
$28.9K – $38.5K
NOI $2,309 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$87.4K
$76.5K – $102.0K
NOI $6,121 @ 7.0% cap · market cap 20.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 14001, NY
9,482
Population
4,477
Households
2.1
Avg Household Size
47
Median Age
26%
College-Educated
91%
High-School Grad
64.5 sq mi
ZIP Area
147
Density / Sq Mi
$73,786
Median Household Income
$46,220
Median Earnings
$744
Median Rent
$221,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Park model home with a private bedroom, open living areas, and a covered porch for outdoor use.
Where is this residential income property located?
The property is located at 8248 Griswold Lot 83 Akron, NY.
What are key features of this property?
This property features: 1994‑built park model home at Woodside Camp Ground; Private primary bedroom; Open kitchen, dining, and living room arrangement
