Mixed-Use Retail and
For Sale
$599,000
838 Niagara Falls Blvd, Tonawanda, NY 14150
Recently updated property includes retail/showroom, a fully equipped commercial kitchen, offices, and a two-bedroom apartment above.
Property Size4,038 SF
Lot Size0.44 Acres
Price / SF$148.34
Days on Market61
Property Features for 838 Niagara Falls Blvd
General Information
Standard status
Active
Size
4,038 SF
Lot size
0.44 Acres
Additional Details
Traffic Count
20,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$12,719
Listing Agency:
Hanna Commercial
(716) 856-7107
Listed By:
Richard Wadsworth · License #10401370901
(716) 239-5764
Source:
Exprealty
Added: Jul 8
Changed: Aug 21
Last Checked: Sep 5 at 11:43AM
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 Hanna Commercial
Investment Insights
Based on property information with market context.
This mixed-use property offers a retail/showroom area, a fully equipped commercial kitchen, office space, and an efficient two-bedroom apartment on the second floor. The building has been recently updated and maintained, including a new façade, extensive interior and exterior painting, general building repairs, and a silicone roof installed approximately three years ago. A newer HVAC system supports year-round comfort for the office and commercial areas.
The property is situated on highly traveled Niagara Falls Boulevard with parking for 27+ vehicles and visibility supported by exposure to more than 20,000 vehicles per day.
The combination of street-level commercial space and a residential unit provides flexibility for either owner-occupancy or an income-generating mixed-use setup.
The property is situated on highly traveled Niagara Falls Boulevard with parking for 27+ vehicles and visibility supported by exposure to more than 20,000 vehicles per day.
The combination of street-level commercial space and a residential unit provides flexibility for either owner-occupancy or an income-generating mixed-use setup.
Key Highlights
- 4,280 SF mixed‑use building on 0.44 acres with retail/showroom, commercial kitchen, office space, and a 2‑bedroom apartment.
- Commercial kitchen included, plus office space to support restaurant, specialty food, or other commercial uses.
- Apartment on the second floor provides an onsite residential component to pair with the retail/office space.
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
$50,599
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
8.45%
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%
$1,011,980
$1.0M
Cap Rate 7%
$722,843
$722.8K
Cap Rate 9%
$562,211
$562.2K
Market Conditions
NOI Build-Up for 4,038 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
$82.4K $20.40/SF
− Vacancy
−$14.9K −$3.69/SF
EGI
$67.5K $16.71/SF
− OpEx
−$16.9K −$4.18/SF
NOI
$50.6K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,011,980
Cap Rate 7%
$722,843
Cap Rate 9%
$562,211
Alternative Uses
Best Use
Office B
$722.8K
$632.5K – $843.3K
NOI $50,599 @ 7.0% cap · market cap 8.45%
Second Best
Retail
$518.7K
$453.8K – $605.1K
NOI $36,307 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$882.7K
$772.4K – $1.03M
NOI $61,791 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Recently updated property includes retail/showroom, a fully equipped commercial kitchen, offices, and a two-bedroom apartment above.
Where is this retail space located?
The property is located at 838 Niagara Falls Blvd Tonawanda, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,280 SF mixed‑use building on 0.44 acres with retail/showroom, commercial kitchen, office space, and a 2‑bedroom apartment.; Commercial kitchen included, plus office space to support restaurant, specialty food, or other commercial uses.; Apartment on the second floor provides an onsite residential component to pair with the retail/office space.
