Building Details

Building Size 2,952 SF

Year Built 1900

Stories 2

Units 3

Listing Agency: m***@gmail.com Show Phone

Listed By: Mark C Warnes Show Phone

Source: Elliman

Added: Aug 23 Changed: Aug 29 Last Checked: Aug 30 at 9:37PM

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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 Mark C Warnes

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 = 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

$18,970

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

6.80%

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%

$379,400 $379.4K

Cap Rate 7%

$271,000 $271.0K

Cap Rate 9%

$210,778 $210.8K

Market Conditions

NOI Build-Up for 2,952 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

$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 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%

$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 6.80%

Second Best

Apartment 5plus

$254.7K

$222.8K – $297.1K (±1% cap)

NOI $17,827 @ 7.0% cap · market cap 6.39%

Theoretical Best

Healthcare Medical

$583.4K

$510.5K – $680.7K (±1% cap)

NOI $40,840 @ 7.0% cap · market cap 14.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Storage Facility Garden Center 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

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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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 $279,000.

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