| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Fair |
| Demographics | 41st | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5 Main St, Tonawanda, NY, 14150, US |
| Region / Metro | Tonawanda |
| Year of Construction | 1982 |
| Units | 50 |
| Transaction Date | 2020-04-01 |
| Transaction Price | $9,360,000 |
| Buyer | OAHS TONAWANDA HOUSING DEV FUND CORP |
| Seller | LH TONAWANDA TOWERS LLC |
5 Main St Tonawanda 50-Unit Investment Outlook
Neighborhood occupancy is steady with a sizable renter base, pointing to durable leasing fundamentals according to WDSuite’s CRE market data.
Located in Tonawanda’s inner-suburban fabric, the neighborhood carries a B rating (ranked 136 out of 301 metro neighborhoods), suggesting competitive positioning within the Buffalo-Cheektowaga market. Local convenience is a relative strength: grocery, parks, and pharmacies register in the top quartile nationally, supporting day-to-day livability that can aid retention and renewal performance.
Amenity mix is not uniform. Cafés and childcare centers are sparse compared with both the metro and national landscape, which may shift some spend and services to nearby nodes. For investors, this typically means resident demand hinges more on practical access and commute patterns than lifestyle retail concentration.
The housing stock skews older in the immediate area (average vintage 1928; ranked against 301 metro neighborhoods), while the subject asset was built in 1982. Being newer than much of the surrounding inventory can provide a competitive edge on systems and functionality, though planning for ongoing modernization remains prudent for 1980s construction.
Tenure dynamics favor multifamily demand: the neighborhood’s share of renter-occupied housing is above many U.S. areas (high national percentile), indicating depth in the tenant base and support for occupancy stability. Within a 3-mile radius, demographics point to a modest population increase and a growing household count, with projections calling for further household expansion and slightly smaller average household sizes through 2028. This pattern typically broadens the renter pool and supports steady absorption.
From a cost-of-living lens, ownership is comparatively accessible versus many U.S. submarkets, while median contract rents remain moderate. For investors, that implies balanced pricing power: rent levels can remain approachable for a wide income band (helping lease retention), but more attainable ownership options can create competition at renewal, warranting disciplined lease management and unit differentiation.
Comparable safety data for this neighborhood is not available in WDSuite’s current release. Investors commonly benchmark property operations and risk management to metro-level trends and owner feedback, monitor insurer loss runs, and emphasize lighting, access control, and visibility to support resident comfort and leasing performance.
- UnitedHealth Group — healthcare services (1.95 miles)
- FedEx Trade Networks — logistics & trade services (2.93 miles)
- Thermo Fisher Scientifc — life sciences offices (4.76 miles)
- M&T Bank Corp. — banking & corporate services (9.10 miles) — HQ
- McKesson — healthcare distribution (14.05 miles)
Nearby healthcare, logistics, and financial services employers underpin a diverse commuter base, supporting weekday traffic and renter retention. The list below highlights key drivers within typical commuting range.
Built in 1982 with 50 units, the property competes favorably against an area dominated by prewar housing, offering functional layouts and systems that many older assets lack. Neighborhood occupancy is solid and the renter-occupied share is elevated relative to national norms, which supports a broad tenant base and steadier lease-up and renewals. Day-to-day convenience is a strength (notably grocery, parks, and pharmacies), while lifestyle amenities are thinner, suggesting demand is driven more by practicality and commute access than café-driven appeal. According to commercial real estate analysis from WDSuite, rent levels remain moderate in context of local incomes, aiding retention while requiring disciplined renewal strategies where entry-level homeownership is attainable.
Forward-looking 3-mile demographics show modest population growth and a larger household count through 2028, with smaller average household sizes—factors that usually expand the renter pool and help sustain occupancy. Given 1980s vintage, investors should underwrite targeted modernization (mechanicals, interiors, and common areas) to protect competitive positioning and capture value-add upside versus older neighborhood stock.
- 1982 vintage offers a practical edge versus older neighborhood stock, with room for targeted upgrades to drive rent premiums.
- Neighborhood occupancy and above-average renter concentration support leasing stability and demand depth.
- Convenience anchors (grocery, parks, pharmacies) are strong, reinforcing day-to-day livability and renewal potential.
- 3-mile household growth and smaller household sizes point to a broader renter pool and steady absorption.
- Risks: more attainable ownership can pressure pricing power; lifestyle amenities are thinner; 1980s systems may require ongoing capital.