Mixed-Use Property with
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For Sale
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961 Tonawanda Street, Buffalo, NY 14207
Commercial frontage is paired with a four-bedroom residential unit, supporting owner-occupancy or rental use in one location.
Property Size2,240 SF
Price / SF$109.33
Days on Market5
Property Features for 961 Tonawanda Street
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Mixed Use
Zoning
N-3E
Building Details
Year Built
1930
Year Renovated
2026
Buildings
1
Units
1
Listing Agency:
Hunt Real Estate ERA
Listed By:
Naz Hussain · License #NY
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 7:39AM
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 Hunt Real Estate ERA
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial storefront with a residential unit positioned at the rear. The residential portion includes four bedrooms, two full bathrooms, a living room, dining room, kitchen, and office, creating a substantial live-work configuration. The property contains 2,240 square feet and was built in 1930.
Zoned N-3E, the property is located near Riverside Park, the Niagara River, shopping, and major roadways. Its commercial and residential components provide a combined layout for business operations and on-site living or separate rental use, subject to applicable requirements.
Zoned N-3E, the property is located near Riverside Park, the Niagara River, shopping, and major roadways. Its commercial and residential components provide a combined layout for business operations and on-site living or separate rental use, subject to applicable requirements.
Key Highlights
- Mixed‑use property with commercial storefront and rear residential unit
- Residential unit includes 4 bedrooms and 2 full bathrooms
- Living room, dining room, kitchen, and office included
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
$21,819
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
8.91%
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%
$436,380
$436.4K
Cap Rate 7%
$311,700
$311.7K
Cap Rate 9%
$242,433
$242.4K
Market Conditions
NOI Build-Up for 2,240 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
$34.9K $15.60/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$31.2K $13.92/SF
− OpEx
−$9.4K −$4.17/SF
NOI
$21.8K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /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%
$436,380
Cap Rate 7%
$311,700
Cap Rate 9%
$242,433
Alternative Uses
Best Use
Office B
$399.0K
$349.2K – $465.5K
NOI $27,932 @ 7.0% cap · market cap 11.41%
Second Best
Mixed Use
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 9.88%
Theoretical Best
Office A
$538.7K
$471.3K – $628.5K
NOI $37,707 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial frontage is paired with a four-bedroom residential unit, supporting owner-occupancy or rental use in one location.
Where is this mixed-use property located?
The property is located at 961 Tonawanda Street Buffalo, NY.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: Mixed‑use property with commercial storefront and rear residential unit; Residential unit includes 4 bedrooms and 2 full bathrooms; Living room, dining room, kitchen, and office included
