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    219 Broad St Salamanca, NY 14779-1441

    • Turn key restaurants
    • 1,265 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2021
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6029577
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Latinos pizzeria / Restaurant
    • Marino's / Restaurant / Delivery Restaurant

    Property Details for 219 Broad St

    Year built
    1900
    Lot size
    0.35 lot acres
    Property size
    1,265 SF
    Zone code
    03 - MULTI-FAMILY
    Property type
    Turn key restaurants
    APN
    041600 73.078-2-21
    APU
    4160073078221

    Description

    This exceptional investment opportunity encompasses two adjacent commercial buildings totaling 1,265 square feet on a 0.36-acre lot in the heart of Salamanca, NY. The property, located at 219 & 231 Broad Street, currently houses a thriving pizza restaurant, ice cream parlor, coffee shop, and gift shop. Recent renovations to 219 Broad Street include an expanded dining area and a fully equipped, dual-kitchen setup featuring pizza ovens, a hood vent, and a walk-in cooler. The property boasts ample parking for 12-15 vehicles and an outdoor seating area. 231 Broad Street, currently operating as a gift shop, offers versatile commercial zoning, allowing for diverse future uses, including retail or office space. The strategic location benefits from high foot traffic, drawing both local residents and tourists attracted to nearby attractions such as the Salamanca Casino, Allegheny State Park, and St. Bonaventure University in Olean. This turnkey operation includes all equipment, inventory, and established brand names, presenting a rare opportunity to acquire a profitable, multi-faceted business with significant growth potential. Lease rates are negotiable. The property is zoned commercial and is a single-story free-standing building in Cattaraugus County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salamanca
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.7241
    Latitude
    42.156
    CBSA code
    36460
    CBSA name
    OLEAN, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $2,860
    $25,975
    $28,835
    -
    $22,880
    $207,800
    $230,680

    Comparable in this City

    • Value Estimation
      $210,000
      1,600 SF

      567 Broad St

      RESTAURANT • 1,600 SF
      567 Broad St, Salamanca, NY 14779-1301
      View Details
    • Value Estimation
      $240,000
      6,828 SF

      380 Pkwy Dr

      RESTAURANT • 6,828 SF
      380 Pkwy Dr, Salamanca, NY 14779-1944
      View Details
    • Value Estimation
      $230,000
      3,799 SF

      460 Wildwood Ave

      RESTAURANT • 3,799 SF
      460 Wildwood Ave, Salamanca, NY 14779-1642
      View Details
    • Value Estimation
      $70,000
      854 SF

      525 Broad St

      DRIVE-THRU RESTAURANT, FAST FOOD • 854 SF
      525 Broad St, Salamanca, NY 14779
      View Details
    • Value Estimation
      $245,000
      12,800 SF

      4250 State St

      NIGHTCLUB (COCKTAIL LOUNGE) • 12,800 SF
      4250 State St, Salamanca, NY 14779-9780
      View Details
    • Value Estimation
      $250,000
      2,104 SF

      56 Hickory St

      BAR, TAVERN • 2,104 SF
      56 Hickory St, Salamanca, NY 14779-1116
      View Details

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    219 Broad St
    Salamanca, NY 14779-1441
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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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