6879 Erie Rd - Apartments FOR SALE


Derby, NY 14047
$1,100,000 USD
716-292-8756
6879 Erie Rd, Derby, NY for Sale
$1,100,000 USD
Apartments - FOR SALE
1/10
null | 5.2% Cap Rate

6879 Erie Rd
Derby, NY 14047


HIGHLIGHTS

  • 25 minute commute to downtown Buffalo
  • 2 minutes just off the waterfront.

OVERVIEW

This unique commercial investment opportunity features 15 units across 11 buildings on a single lot, zoned as a motel and currently rented as residential units, generating over $110,000 annually in rental income. With the potential to raise rents or convert the units to short-term rentals for significantly increased earnings, this property presents a versatile income opportunity. All buildings have been well-maintained, with new roofs, water lines, gas lines, and electric lines installed. Located on Route 5 in Derby, this prime location offers high visibility and steady traffic flow, connecting to the scenic Lake Erie shoreline. The surrounding residential neighborhoods provide a strong local customer base, and nearby attractions like Lake Erie Beach Park draw visitors year-round, making this property ideal for a variety of commercial ventures.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$169 USD /SF

# OF UNITS

15

PRICE/UNIT

$73,333

CAP RATE

5.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

GB

APN/PARCEL ID

144489-206-080-0001-010-000

ASK ABOUT THIS PROPERTY

Thejan KodituwakkuKeller Williams RealtyMore Info
716-292-8756

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Thejan KodituwakkuKeller Williams RealtyMore Info
716-292-8756

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.