Open-Plan Retail
New
For Sale
$599,000
926 Niagara Falls Blvd, Tonawanda, NY 14223
An open interior offers flexibility for configuring the commercial space.
Property Size2,480 SF
Price / SF$241.53
Days on Market5
Property Features for 926 Niagara Falls Blvd
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,814
Building Details
Building Size
2,480 SF
Year Built
1960
Stories
1
Listing Agency:
Buffalo First Realty Group Inc
Listed By:
Raymond A Smith · License #40SM1090023
(716) 903-8279
Source:
Elliman
Added: Oct 1
Last Checked: Oct 4 at 12:02PM
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 Buffalo First Realty Group Inc
Investment Insights
Based on property information with market context.
This retail space contains approximately 2,480 square feet in an open layout, allowing the interior to be arranged around a business’s needs. The building was constructed in 1960.
The property is at 926 Niagara Falls Blvd in Tonawanda, New York. Reported traffic counts on this portion of Niagara Falls Boulevard range from approximately 20,000 to 26,000+ vehicles per day, varying by segment and count location.
The property is at 926 Niagara Falls Blvd in Tonawanda, New York. Reported traffic counts on this portion of Niagara Falls Boulevard range from approximately 20,000 to 26,000+ vehicles per day, varying by segment and count location.
Key Highlights
- Approximately 2,480 square feet of open retail space
- Located at 926 Niagara Falls Blvd in Tonawanda, New York
- Reported traffic counts range from approximately 20,000–26,000+ vehicles per day, depending on segment and count location
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
$22,299
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
3.72%
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%
$445,980
$446.0K
Cap Rate 7%
$318,557
$318.6K
Cap Rate 9%
$247,767
$247.8K
Market Conditions
NOI Build-Up for 2,480 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
$35.7K $14.40/SF
− Vacancy
−$3.9K −$1.56/SF
EGI
$31.9K $12.84/SF
− OpEx
−$9.6K −$3.85/SF
NOI
$22.3K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /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%
$445,980
Cap Rate 7%
$318,557
Cap Rate 9%
$247,767
Alternative Uses
Best Use
Retail
$318.6K
$278.7K – $371.7K
NOI $22,299 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$542.1K
$474.4K – $632.5K
NOI $37,950 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
115k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 37%
Apparel 18%
Beauty & Spa 4%
Chili's Grill & Bar
Dining
24,485 visits/mo
0.3 miles
Savers Thrift Store
Apparel
14,934 visits/mo
0.2 miles
Burger King
Dining
12,644 visits/mo
0.4 miles
Bank of America
Shops & Services
11,578 visits/mo
0.5 miles
M&T Bank
Shops & Services
10,788 visits/mo
0.5 miles
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - An open interior offers flexibility for configuring the commercial space.
Where is this retail space located?
The property is located at 926 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: Approximately 2,480 square feet of open retail space; Located at 926 Niagara Falls Blvd in Tonawanda, New York; Reported traffic counts range from approximately 20,000–26,000+ vehicles per day, depending on segment and count location
