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    2831 Transit Rd Elma, NY 14059

    Sponsored
    For Lease
    Pending
    $900,000

    COMMERCIAL - Elma, NY

    Type:Apartment
    Property size:
    4,284 SF
    Lot size:
    1.30 Acres
    Days on Market:
    49
    Last Refresh:
    Mar 1 at 12:06 pm

    Property Features for 2831 Transit Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Apartment
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    C-3
    APN
    144200-136-030-0001-024-000
    Parking
    20
    Parking features
    Paved or Surfaced
    Size
    4,284 SF
    Lot size
    1.30 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Radiant
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Floors in Building
    1
    Building materials
    Block
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Vincent J Ciffa

    WNY METRO ROBERTS REALTY (716) 891-1710

    Listing agent Vincent J Ciffa (716) 559-9972 License #10401324771

    Listing date Jan 12, 2026

    MLS# B1654946

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Property on Transit Road

    Located on Transit Road in Elma, New York, this commercial property offers a 4,300 square foot automotive repair facility on a 1.3-acre site. The shop includes six bays and drive-in bay doors, including one door at 14 feet. The existing automotive repair facility is equipped with four lifts, a pipe bender, a tire machine, a tire balancer, and a brake lathe, all of which are negotiable. The property features municipal sewer service and a deep lot with vacant land, suitable for expansion, redevelopment, or additional structures. The building is heated with overhead radiant gas heaters and the office has central A/C. The current zoning allows for various commercial uses, such as automotive services, vehicle sales, contractor operations, storage units, flex/industrial, and retail-oriented businesses. Potential uses include automotive repair, service, or specialty shops, vehicle sales, leasing, or fleet operations, contractor yards or service headquarters, flex industrial/warehouse space, outdoor industrial storage, self-storage or mini-storage development, and retail with rear service or storage components. The seller is open to transferring the NYS Inspection License, NYS Repair License, NYS Car Sales License, as well as a Multi-Use Permit which includes a Rental Unit. A rear structure, previously operated as a motel, has been boarded up for many years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Valu Auto Care ... Auto Repair Shop Transit Muffler / Brake ... Auto Repair Shop Salna Quality Used ... Car Dealership

    Suggested Use

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

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

    Similar Places Nearby

    Valu Auto Care Center, Tony's Roadside Services, Gorman Enterprises, Empire State Truck Repair, Glass America

    Location Insight

    • Map
    • Local Demand
    City
    Elma
    County
    Erie
    State
    New York
    Longitude
    -78.696122
    Latitude
    42.844864

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    FAQs

    What type of property is this?
    Auto shop - Commercial property with automotive repair facility and development potential.
    Where is this auto shop located?
    The property is located at 2831 Transit Rd Elma, NY.
    What is the lease rate?
    The lease rate is $900,000.
    What are key features of this property?
    This property features: - Prime location on Transit Road, a high-traffic commercial corridor.; - Existing 4,300 SF automotive repair facility with **six drive-in bays** (one at 14').; - 1.4-acre site with **substantial vacant land, offering significant development potential.**
    (716) 471-0020
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    2831 Transit Rd Elma, NY 14059
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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
    2831 Transit Rd Elma, NY 14059
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    We can help!
    Listing Contact
    Vincent J Ciffa
    Real Estate License ID: 10401324771
    (716) 471-0020 (716) 559-9972 (716) 875-2211
    Learn more
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