Building Details

Building Size 2,952 SF

Year Built 1900

Stories 2

Units 3

Listing Agency: 716 Realty Group WNY LLC

Listed By: Mark C Warnes · License #10401253641 Show Phone

Source: Elliman

Added: Aug 23 Changed: Oct 16 Last Checked: Oct 16 at 9:57AM

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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 716 Realty Group WNY LLC

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Investment Insights

Based on property information with market context.

Built in 1900, this triplex contains three distinct residential units, each with its own living space. The property is fully leased, with all three residences occupied at present, providing an established rental setup for a new owner. Exterior features include a covered front porch and a spacious yard.

Located at 9643 Main St in Machias, New York, the property records a Walk Score of 16 and a Bike Score of 28, indicating a car-dependent setting that is somewhat bikeable.

Key Highlights

• Three‑unit triplex built in 1900
• All three units are currently occupied
• Each unit has its own living space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,970

Cap Rate

7.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,400 $379.4K

Cap Rate 7%

$271,000 $271.0K

Cap Rate 9%

$210,778 $210.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,952 SF

Gross rent

$30.1K $10.20/SF

− Vacancy

−$3.0K −$1.02/SF

EGI

$27.1K $9.18/SF

− OpEx

−$8.1K −$2.75/SF

NOI

$19.0K $6.43/SF

Area

Cattaraugus County, NY

Vacancy

10.00%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$379,400

Cap Rate 7%

$271,000

Cap Rate 9%

$210,778

Alternative Uses

Best Use

Multifamily LT 5

$271.0K

$237.1K – $316.2K (±1% cap)

NOI $18,970 @ 7.0% cap · market cap 7.62%

Second Best

Apartment 5plus

$254.7K

$222.8K – $297.1K (±1% cap)

NOI $17,827 @ 7.0% cap · market cap 7.16%

Theoretical Best

Healthcare Medical

$583.4K

$510.5K – $680.7K (±1% cap)

NOI $40,840 @ 7.0% cap · market cap 16.40%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Garden Center Storage Facility Cafe & Coffee Shop Veterinary Clinic Skin Care Clinic Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Explore this area Business Placement

Demographics for 14101, NY

1,853

Population

1,073

Households

1.7

Avg Household Size

48

Median Age

10%

College-Educated

90%

High-School Grad

45.6 sq mi

ZIP Area

41

Density / Sq Mi

$70,083

Median Household Income

$31,887

Median Earnings

$1,050

Median Rent

$104,400

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?

Triplex - Separate living spaces, a covered front porch, and a spacious yard support the property’s residential configuration.

Where is this triplex located?

The property is located at 9643 Main St Machias, NY.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: Three‑unit triplex built in 1900; All three units are currently occupied; Each unit has its own living space