Building Details

Building Size 3,536 SF

Year Built 1950

Buildings 1

Listing Agency: Howard Hanna WNY Inc.

Listed By: Andrew Hehl · License #10401400145 Show Phone

Source: Griffith-realty

Added: Aug 17 Changed: Sep 26 Last Checked: Oct 6 at 12:26AM

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Investment Insights

Based on property information with market context.

This four-unit apartment building, constructed in 1950, includes a mix of residential layouts across two levels. The lower floor contains a one-bedroom, one-bath studio-style apartment and a two-bedroom, one-bath apartment. Two additional apartments occupy the upper floor, each offering two bedrooms and two bathrooms.

Recent property updates include heating equipment, hot water tanks, and the roof. The building is located at 9687 Main St in Machias, New York. A Walk Score of 16 indicates a car-dependent setting, while the Bike Score of 28 reflects somewhat bikeable conditions.

Key Highlights

• Four‑unit apartment building with two levels of residential space
• Lower floor includes one‑bedroom, one‑bath and two‑bedroom, one‑bath apartments
• Two upper‑floor apartments each feature two bedrooms and two bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,722

Cap Rate

6.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,440 $454.4K

Cap Rate 7%

$324,600 $324.6K

Cap Rate 9%

$252,467 $252.5K

Market Conditions

NOI Build-Up for 3,536 SF

Gross rent

$36.1K $10.20/SF

− Vacancy

−$3.6K −$1.02/SF

EGI

$32.5K $9.18/SF

− OpEx

−$9.7K −$2.75/SF

NOI

$22.7K $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%

$454,440

Cap Rate 7%

$324,600

Cap Rate 9%

$252,467

Alternative Uses

Best Use

Multifamily LT 5

$324.6K

$284.0K – $378.7K (±1% cap)

NOI $22,722 @ 7.0% cap · market cap 6.99%

Second Best

Apartment 5plus

$305.1K

$266.9K – $355.9K (±1% cap)

NOI $21,354 @ 7.0% cap · market cap 6.57%

Theoretical Best

Healthcare Medical

$698.9K

$611.5K – $815.3K (±1% cap)

NOI $48,920 @ 7.0% cap · market cap 15.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Quadplexes

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

4

Residential units

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 quadplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit apartment property with varied layouts and recent roof, heating, and hot water system updates.

Where is this quadplex located?

The property is located at 9687 Main Street Machias, NY.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Four‑unit apartment building with two levels of residential space; Lower floor includes one‑bedroom, one‑bath and two‑bedroom, one‑bath apartments; Two upper‑floor apartments each feature two bedrooms and two bathrooms