Triplex with Three-Car
New
For Sale
$279,900
88 N Marion St, North Tonawanda, NY 14120
Three residential units have separate utilities, with driveway and front parking plus a full basement.
Property Size2,960 SF
Days on Market2
Property Features for 88 N Marion St
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/1BA, 2 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,320
Building Details
Building Size
2,960 SF
Year Built
1915
Stories
2
Units
3
Listing Agency:
Towne Housing Real Estate
Listed By:
Christopher M Williams
(716) 563-3861
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:29AM
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 Towne Housing Real Estate
Investment Insights
Based on property information with market context.
This triplex, built in 1915, contains three units. The owner’s residence is a two-story townhouse-style unit with four bedrooms and one bathroom. The other two apartments each have two bedrooms, and one is also arranged across two stories. Separate utilities serve the units, and the property includes a full basement.
Parking is provided by a full driveway, a front parking area, and a three-car garage. The property is located at 88 N Marion St in North Tonawanda, New York.
Parking is provided by a full driveway, a front parking area, and a three-car garage. The property is located at 88 N Marion St in North Tonawanda, New York.
Key Highlights
- Three units, including a 4‑bedroom, 1‑bath owner’s unit
- Two additional 2‑bedroom units; one has a two‑story townhouse‑style layout
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,074
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,480
$461.5K
Cap Rate 7%
$329,629
$329.6K
Cap Rate 9%
$256,378
$256.4K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$45.1K $15.24/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$42.0K $14.17/SF
− OpEx
−$18.9K −$6.38/SF
NOI
$23.1K $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,480
Cap Rate 7%
$329,629
Cap Rate 9%
$256,378
Alternative Uses
Best Use
Multifamily LT 5
$371.4K
$325.0K – $433.3K
NOI $25,996 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$329.6K
$288.4K – $384.6K
NOI $23,074 @ 7.0% cap · market cap 8.24%
Theoretical Best
Warehouse
$2.52M
$2.20M – $2.93M
NOI $176,057 @ 7.0% cap · market cap 62.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units have separate utilities, with driveway and front parking plus a full basement.
Where is this triplex located?
The property is located at 88 N Marion St North Tonawanda, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Three units, including a 4‑bedroom, 1‑bath owner’s unit; Two additional 2‑bedroom units; one has a two‑story townhouse‑style layout; Separate utilities for each unit
