Building Details

Building Size 3,612 SF

Year Built 1940

Tenancy Multi

Listed By: Kevin Faatz Show Phone

Source: Elliman

Added: Jul 25 Changed: Oct 25 Last Checked: Oct 28 at 9:20AM

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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 Kevin Faatz

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Investment Insights

Based on property information with market context.

This income-producing multifamily property consists of seven units and is being offered for sale at 935–941 US Route 11 in Hastings, NY. It is set up to generate immediate rental income for an owner seeking a smaller residential income asset.

The property is positioned along US Route 11 and is described as providing convenient access to Central Square and Interstate 81, with nearby amenities. Based on the included mobility metrics, the area scores 28 on BikeScore (somewhat bikeable) and 9 on WalkScore (car-dependent).

Key Highlights

• 7‑unit income‑producing multifamily property built in 1940
• Located at 935‑941 US Route 11 in Hastings, NY on a highly traveled route
• Described as cash‑flowing and providing immediate rental income

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,709

Cap Rate

5.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$554,180 $554.2K

Cap Rate 7%

$395,843 $395.8K

Cap Rate 9%

$307,878 $307.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,612 SF

Gross rent

$53.3K $14.76/SF

− Vacancy

−$2.9K −$0.81/SF

EGI

$50.4K $13.95/SF

− OpEx

−$22.7K −$6.28/SF

NOI

$27.7K $7.67/SF

Area

Oswego County, NY

Vacancy

5.50%

Lease Rate

$14.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$554,180

Cap Rate 7%

$395,843

Cap Rate 9%

$307,878

Alternative Uses

Best Use

Apartment 5plus

$395.8K

$346.4K – $461.8K (±1% cap)

NOI $27,709 @ 7.0% cap · market cap 5.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$720.5K

$630.4K – $840.5K (±1% cap)

NOI $50,432 @ 7.0% cap · market cap 9.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

7

Residential units

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

17

Businesses Nearby

Explore this area Business Placement

Demographics for 13036, NY

8,601

Population

3,959

Households

2.2

Avg Household Size

45

Median Age

22%

College-Educated

94%

High-School Grad

46.1 sq mi

ZIP Area

187

Density / Sq Mi

$87,610

Median Household Income

$45,448

Median Earnings

$960

Median Rent

$173,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Income-producing 7-unit property on highly traveled US Route 11 in Hastings, NY.

Where is this apartment building located?

The property is located at 935 US Route 11 Hastings, NY.

What is the asking price?

The asking price for this property is $529,900.

What are key features of this property?

This property features: 7‑unit income‑producing multifamily property built in 1940; Located at 935‑941 US Route 11 in Hastings, NY on a highly traveled route; Described as cash‑flowing and providing immediate rental income