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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Hotels
240 1st St, Niagara Falls, NY 14303
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US63-5635041
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1986
Total area
118,535 SF
Lot
1.52 ac (66,211 SF)
Zoning code
D1-B
APN
291100 158.12-1-16
UPID
US63-5635041
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Papa John's Pizza Restaurant
-
Falls Wedding Chapel Wedding Service Church
-
Old Falls Street Burgers Restaurant
-
Legends Bar Bar & Pub
-
Quality Hotel & Suites At The Falls Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
Falls Street Properties LLC · 13 yrs held
Falls Street Properties LLC
since 2013
5 recorded transactions
Zoning & alternative use
D1-B · Niagara Falls, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niagara Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niagara Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$15 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$3,804,400
Assessed 2023
Previous assessed
$3,804,400
+0.0% YoY
Assessed land
$331,100
Assessed improvement
$3,473,300
Land market value
$613,149
Improvement market value
$6,432,051
Total market value
$7,045,200
Applied tax rate
291,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1986
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
118,535 SF
Lot
1.52 ac (66,211 SF)
Zoning code
D1-B
APN
291100 158.12-1-16
UPID
US63-5635041
Jurisdiction
NIAGARA
Zoning & alternative use
D1-B · Niagara Falls, NY
Zoning D1-B · permitted uses
D1-B · Niagara Falls, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Niagara Falls. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Lot
1.52 ac
Current owner
From public records · entity-resolved
Falls Street Properties LLC
Entity
Mailing address
2293 SAUNDERS SETTLEMENT RD, SANBORN, NY 14132-9162
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2018
—
Falls Street Properties LLC
—
Deed
related
$2,209,884 · Liberty Nat'l Bk
Apr 22, 2013
—
Falls Street Properties LLC
Anderson,joseph M
Quit Claim Deed
related
$3,007,818 · Liberty National Bank
Dec 31, 2012
—
Joseph M Anderson
Nf Hotel LLC
Quit Claim Deed
related
—
Oct 20, 2004
$3,150,000
Nf Hotel LLC
Vista Niagara LLC
Grant Deed
—
—
—
Falls Street Properties LLC
—
Loan Modification
related
$2,209,884 · Liberty Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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