Blasdell 5-Unit Residential
For Sale
$339,900
93 Martin Avenue, Hamburg, NY 14219
Well-maintained 5-unit property in Blasdell, great for investors.
Property Size2,458 SF
Price / SF$138.28
Days on Market341
Property Features for 93 Martin Avenue
General Information
Standard status
Active
Size
2,458 SF
Property subtype
Multi Family / Commercial
Taxes and HOA fees
Annual Taxes
$6,555
Amenities
Two
Gas, Baseboard, Radiant, Wall Furnace
Unfurnished
Gas Water Heater, See Remarks
Yes
2458.0
No
Carpet, Luxury Vinyl, Varies, Vinyl
Ceiling Fans, Natural Woodwork
Crawl Space, Partial, Sump Pump
5
Partial
Asphalt
Concrete Driveway, Fence
Storage Facilities
Aluminum Siding, Frame, Copper Plumbing
Building Details
Year Built
1934
Stories
2
Listing Agency:
WNY Metro Roberts Realty
(716) 646-6400
Listed By:
Michael P Kearns · License #10301215173
(716) 646-6400
Source:
Compass
Added: Sep 18, 2025
Changed: Aug 23
Last Checked: Aug 24 at 12:21PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This well-maintained 5-unit residential property is located in Blasdell. The main building features a spacious 3-bedroom apartment with a covered front porch, along with three 1-bedroom apartments. A rear cottage includes 1 bedroom, a living room, a kitchen, and a full bath. The property has seen various updates over the years. It offers ample off-street parking with a large driveway and a lockable exterior storage shed. The property size is 2458 square feet. This property presents an opportunity for income generation or owner-occupancy.
Key Highlights
- Well‑maintained 5‑unit residential property.
- Spacious 3‑bedroom apartment in the main building.
- Includes a separate 1‑bedroom rear cottage.
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
$14,192
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
4.18%
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%
$283,840
$283.8K
Cap Rate 7%
$202,743
$202.7K
Cap Rate 9%
$157,689
$157.7K
Market Conditions
NOI Build-Up for 2,458 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
$39.8K $16.20/SF
− Vacancy
−$14.0K −$5.70/SF
EGI
$25.8K $10.50/SF
− OpEx
−$11.6K −$4.72/SF
NOI
$14.2K $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%
$283,840
Cap Rate 7%
$202,743
Cap Rate 9%
$157,689
Alternative Uses
Best Use
Apartment 5plus
$202.7K
$177.4K – $236.5K
NOI $14,192 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.3K
$470.2K – $626.9K
NOI $37,613 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 5-unit property in Blasdell, great for investors.
Where is this apartment building located?
The property is located at 93 Martin Avenue Hamburg, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Well‑maintained 5‑unit residential property.; Spacious 3‑bedroom apartment in the main building.; Includes a separate 1‑bedroom rear cottage.
