| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 38th | Poor |
| Amenities | 37th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6281 Robinson Rd, Lockport, NY, 14094, US |
| Region / Metro | Lockport |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2021-11-04 |
| Transaction Price | $4,337,000 |
| Buyer | BG274 PROPERTIES LLC |
| Seller | GREENFIELD R/E MGMT CORP |
6281 Robinson Rd, Lockport NY Multifamily Investment
Stable neighborhood occupancy and a renter base supported by nearby employment corridors point to durable leasing, according to WDSuite’s CRE market data. The 1985 vintage and smaller average unit sizes suggest attainable rents with value-add potential.
Lockport’s suburban setting offers practical livability for workforce renters, with neighborhood conditions generally in the middle of the pack for the Buffalo-Cheektowaga metro (overall neighborhood rank 205 out of 301; C+). Occupancy in the neighborhood has trended higher over the last five years and sits in the mid-90s, which is roughly in line with broader metro norms and supportive of income stability for well-managed assets.
Amenity access skews toward everyday recreation and casual dining. Parks and cafes are relatively strong compared with national benchmarks (both in the top half nationally), while on-neighborhood grocery, pharmacy, and childcare options are limited, indicating residents may rely on nearby corridors for these needs. For investors, this mix supports day-to-day convenience while highlighting the importance of marketing commute and retail access just outside the immediate area.
The housing stock skews slightly older than new construction, with the neighborhood’s average vintage near the early 1980s. At the property level, a 1985 build can compete well against older inventory, though investors should underwrite for system modernization and targeted upgrades to capture renovation upside.
Tenure data indicates a meaningful renter-occupied share within a 3-mile radius (roughly one-third to two-fifths of units), providing depth to the tenant base and supporting ongoing demand for smaller formats. Home values in the immediate neighborhood are comparatively low versus national levels, which can introduce some competition from entry-level ownership; however, rent-to-income appears moderate, supporting retention and steady leasing for appropriately positioned units.
Demographics aggregated within a 3-mile radius show a stable population today with projections pointing to meaningful increases in both population and households through 2028. This trend implies a larger tenant base over time, which can help support occupancy and rent growth management in line with metro performance, based on commercial real estate analysis from WDSuite.
Comparable safety data at the neighborhood level is limited in the current release, so block-level conclusions are not appropriate. Investors typically benchmark conditions against nearby Buffalo-Cheektowaga neighborhoods and citywide trends, focusing on property-level measures (lighting, access control, visibility) to support resident comfort and lease retention.
Regional employers within commuting range support local renter demand, particularly for workforce housing. Notable nearby organizations include UnitedHealth Group, FedEx Trade Networks, Thermo Fisher Scientific, M&T Bank Corp., and McKesson.
- UnitedHealth Group — healthcare services (12.7 miles)
- FedEx Trade Networks — logistics & trade services (15.0 miles)
- Thermo Fisher Scientifc — life sciences offices (16.2 miles)
- M&T Bank Corp. — financial services (19.2 miles) — HQ
- McKesson — healthcare distribution (19.8 miles)
This 24-unit, 1985-vintage property in suburban Lockport offers a pragmatic workforce housing thesis: neighborhood occupancy is steady, the nearby employment base is diverse, and smaller average unit sizes can sustain attainable rents. According to CRE market data from WDSuite, the surrounding neighborhood’s performance sits near metro norms, with parks and café access outperforming national medians and core retail needs concentrated along nearby corridors.
Within a 3-mile radius, demographics indicate a stable renter pool today with projections for meaningful growth in population and households through 2028, supporting a larger tenant base over time. The 1985 construction suggests competitive positioning against older stock, while underwriting should account for building system refreshes and targeted interior upgrades to drive value-add returns. Ownership costs in the area are comparatively low by national standards, which can temper near-term pricing power; disciplined lease management and amenity-light operations can help preserve retention.
- Steady neighborhood occupancy and diversified nearby employment support leasing stability.
- 1985 vintage offers value-add potential via system updates and selective interior renovations.
- Smaller average unit size aligns with attainable rents and a broad workforce renter base.
- 3-mile population and household growth projections expand the future renter pool.
- Risks: limited on-neighborhood grocery/pharmacy/childcare and comparatively low ownership costs may moderate pricing power.