Three-Unit Brick
For Sale
$385,000
97 Prospect Avenue, Buffalo, NY 14201
All residences are occupied, and a private drive provides off-street parking.
Property Size2,879 SF
Price / SF$133.73
Days on Market59
Property Features for 97 Prospect Avenue
General Information
Standard status
Active
Size
2,879 SF
Property subtype
Multi Family Home
Occupancy
100%
Site & Location
Neighborhood
Lower West Side
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,339
Building Details
Building Size
2,879 SF
Year Built
1860
Buildings
1
Stories
3
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Visionary Real Estate WNY
(716) 370-9437
Listed By:
Clarence Cox Jr
(716) 370-5753
Source:
Gentryrealtyproperties
Added: Aug 27
Changed: Oct 23
Last Checked: Oct 23 at 4:14PM
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 Visionary Real Estate WNY
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Investment Insights
Based on property information with market context.
This brick triplex contains three occupied residences and was built in 1860. Hardwood and tile flooring are found throughout the property, and a private driveway offers off-street parking. The building encompasses 2,879 square feet.
The property is in Buffalo’s West Village Historic District, with downtown Buffalo, shops, restaurants, and parks among the nearby destinations. It is also available in a package sale with 99 Prospect Avenue.
The property is in Buffalo’s West Village Historic District, with downtown Buffalo, shops, restaurants, and parks among the nearby destinations. It is also available in a package sale with 99 Prospect Avenue.
Key Highlights
- Three units, all currently occupied
- 2,879‑square‑foot brick property built in 1860
- Hardwood and tile flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,567
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,340
$571.3K
Cap Rate 7%
$408,100
$408.1K
Cap Rate 9%
$317,411
$317.4K
Market Conditions
NOI Build-Up for 2,879 SF
Gross rent
$43.2K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$40.8K $14.17/SF
− OpEx
−$12.2K −$4.25/SF
NOI
$28.6K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,340
Cap Rate 7%
$408,100
Cap Rate 9%
$317,411
Alternative Uses
Best Use
Multifamily LT 5
$408.1K
$357.1K – $476.1K
NOI $28,567 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$375.9K
$328.9K – $438.5K
NOI $26,312 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$692.3K
$605.8K – $807.7K
NOI $48,464 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All residences are occupied, and a private drive provides off-street parking.
Where is this triplex located?
The property is located at 97 Prospect Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Three units, all currently occupied; 2,879‑square‑foot brick property built in 1860; Hardwood and tile flooring throughout
