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    Niagara Falls Professional Office Space Title is generated by Realmo AI

    2121 Sawyer Drive, Niagara Falls, NY 14304

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    Claim this Listing
    For Sale
    $284,900

    SINGLE_FAMILY - Niagara Falls, NY

    Type:Office
    Property size:
    1,538 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $185/SF
    Added:
    Apr 21, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 2121 Sawyer Drive

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    offices
    Parking
    40
    Parking features
    Paved or Surfaced
    Standard status
    Active
    APN
    294000-161-002-0010-010-000
    Size
    1,538 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4907

    Utilities

    Heating system
    Forced Air, Central, Natural Gas
    Cooling system
    Separate Meters, Central Air
    Water source
    Public

    Building Details

    Year built
    1998
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Vinyl, Linoleum
    Building materials
    Brick, Block, Masonry
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Michael J Hooper

    Listing agent Michael J Hooper License #37HO0444450

    Listing office Hooper Realty 742 Main Street, Niagara Falls, NY

    Listing date Apr 21, 2026

    MLS# B1675337

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Highly visible and convenient location with ample parking in the front and back.
    • Fully masonry constructed building with a new roof.
    • Handicap accessible with open reception area.
    • Includes 5 individual offices and a conference room.
    • Versatile space suitable for various professional uses.
    • Signage with high road visibility.

    Overview

    This is a professional office space located in a highly visible and convenient location in Niagara Falls, NY. The property features ample parking in both the front and back of the building. Constructed with full masonry and a new roof, the building is handicap accessible. The interior layout includes an open reception area, five individual offices, and a conference room. There is also an open kitchen area and both front and back entrance areas. The property offers many potential uses for various businesses, such as a law office, real estate agency, insurance provider, financial services firm, or construction company. Signage is located in front of the building, easily visible from the road. The office equipment and furnishings are negotiable. The property has a size of 1538 square feet and is situated on a lot of 0.04 acres.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $33.2k $21.60
    − Vacancy −$4.2k −$2.74
    EGI $29.0k $18.86
    − OpEx −$7.3k −$4.71
    NOI $21.8k $14.14
    1,538 SF · lease $21.60/SF/yr · vacancy 12.70% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $310.7K
    $271.9K – $362.5K (±1% cap)
    NOI $21,751 @ 7.0% cap · market cap 7.63%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Warehouse
    $1.31M
    $1.14M – $1.52M (±1% cap)
    NOI $91,478 @ 7.0% cap · market cap 32.11%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sun American Securities Financial Advisor AIG Financial Advisors Financial Advisor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Niagara Falls
    County
    Niagara
    State
    New York
    Longitude
    -78.93643
    Latitude
    43.092365

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    FAQs

    What type of property is this?
    Office units - Highly visible professional office space with parking and accessibility features.
    Where is this office units located?
    The property is located at 2121 Sawyer Drive Niagara Falls, NY.
    What is the asking price?
    The asking price for this property is $284,900.
    What are key features of this property?
    This property features: Highly visible and convenient location with ample parking in the front and back.; Fully masonry constructed building with a new roof.; Handicap accessible with open reception area.
    (716) 285-0477
    We can help!
    Listing Contact
    Michael J Hooper
    Real Estate License ID: 37HO0444450
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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