| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 31st | Poor |
| Demographics | 46th | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9502 Marine Memorial Dr, Niagara Falls, NY, 14304, US |
| Region / Metro | Niagara Falls |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2013-04-16 |
| Transaction Price | $553,500 |
| Buyer | MARINE MEMORIAL APARTMENTS LLC |
| Seller | NFE MARINE MEMORIAL LLC |
9502 Marine Memorial Dr Niagara Falls 24-Unit Multifamily
Neighborhood occupancy trends have been softer in this inner-suburban pocket, but access to daily-needs retail supports renter demand, according to WDSuite s CRE market data.
Located in an Inner Suburb of the Buffalo-Cheektowaga metro, the area around 9502 Marine Memorial Dr shows mixed fundamentals for multifamily. Daily-needs access is a relative strength, with neighborhood grocery and pharmacy availability ranking in the top quartile nationally, while restaurants, cafes, and parks are comparatively sparse. Average school ratings trend below national norms, which may modestly affect family-driven leasing, but proximity to essentials can help retention for workforce-oriented properties.
Neighborhood occupancy is below the U.S. median based on WDSuite s CRE market data, indicating a competitive leasing environment where pricing and product differentiation matter. The local renter-occupied share of housing units is moderate, suggesting a stable—though not deep—tenant base. In investor terms, this points to steady demand potential that benefits properties positioned with functional finishes and reliable operations.
Within a 3-mile radius, demographics show a recent dip in population but forecasts point to growth in both population and households over the next period, indicating a possible renter pool expansion. Median household incomes in the 3-mile area have risen notably over the last five years, and rent levels indicated by WDSuite remain manageable relative to incomes, which can support occupancy stability and renewals.
Ownership costs in this part of Niagara County are lower than many U.S. neighborhoods, which can introduce some competition from entry-level ownership. For multifamily investors, that typically favors maintaining value-oriented positioning and emphasizing convenience. The property s 1973 vintage is slightly newer than the neighborhood s average housing stock, but as a 1970s asset it may still benefit from targeted capital improvements (systems, common areas, unit interiors) to enhance leasing competitiveness.
Neighborhood-level crime statistics were not available in this dataset. Investors typically benchmark safety using multiple sources, including municipal reporting and regional trend comparisons, to understand how conditions may influence leasing and retention over time.
The surrounding employment base features healthcare, life sciences, logistics, and financial services, supporting commuter convenience and a diversified renter pipeline from Thermo Fisher Scientific, FedEx Trade Networks, UnitedHealth Group, M&T Bank Corp., and McKesson.
- Thermo Fisher Scientifc life sciences (5.3 miles)
- FedEx Trade Networks logistics (7.8 miles)
- UnitedHealth Group healthcare services (8.3 miles)
- M&T Bank Corp. financial services (14.8 miles) HQ
- McKesson healthcare distribution (20.4 miles)
This 24-unit, 1973-vintage asset sits in an inner-suburban Niagara Falls location with strong access to daily-needs retail but limited lifestyle amenities. Neighborhood occupancy runs below national medians, so competitive positioning matters; however, a moderate renter-occupied share and improving household incomes within a 3-mile radius provide support for steady tenant demand. According to CRE market data from WDSuite, rent levels remain manageable relative to incomes in this area, which can aid renewals and reduce turnover risk for value-oriented properties.
The vintage presents clear value-add angles selective systems upgrades, curb appeal, and interior refreshes can improve leasing velocity versus older local stock while preserving affordability. Proximity to diversified employers across life sciences, healthcare, logistics, and finance further underpins the renter pipeline, even as investors should plan for disciplined marketing and asset management given softer neighborhood occupancy and modest school ratings.
- Value-add potential in a 1973 asset through targeted unit, systems, and common-area improvements
- Daily-needs retail access offsets limited dining and recreation, supporting retention
- Diversified nearby employers (life sciences, healthcare, logistics, finance) sustain tenant pipeline
- Manageable rent-to-income dynamics may aid renewals and occupancy stability
- Risks: below-median neighborhood occupancy and lower school ratings require focused leasing and asset management