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    Chautauqua Lake View Commercial Lot Title is generated by Realmo AI

    4453 W Fairmount Avenue, Lakewood, NY 14750

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    Claim this Listing
    For Lease
    $3,400 /Mo

    COMMERCIAL - Lakewood, NY

    Lot size:
    0.70 Acres
    Added:
    Feb 8, 2024
    Days on Market:
    828
    Last Refresh:
    May 16 at 11:06 pm

    Property Features for 4453 W Fairmount Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    HC
    Parking
    40
    Standard status
    Active
    APN
    062289-385-005-0003-028-000
    Lot size
    0.70 Acres

    Utilities

    Heating system
    Natural Gas
    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Jonathan Minerick
    Jonathan Minerick

    Listing agent Jonathan Minerick License #10311209448

    Listing office Homecoin.com 600 B St, Ste 300, San Diego, NY

    Listing date Feb 8, 2024

    MLS# B1520376

    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

    • Prime location to capture I‑86 Westbound traffic, being the only quick‑service restaurant listed on the interstate logo sign after a 30+ mile stretch without food options.
    • High‑visibility location next to a busy Crosby's gas station, the first fuel stop on Southbound 394 from I‑86.
    • Approved building plans and flexibility for lot division or other development opportunities.
    • Desirable Chautauqua Lake view and proximity to Southern Tier Brewing (1 mile) and Chautauqua Institution (10 miles).
    • Gravel lot with long‑term lease availability, 3 approved entrances, and approximately 20 additional parking spaces.
    • Existing 200amp electric service (with potential for more) and signage already in place.

    Overview

    This 0.7-acre graveled commercial lot, located in Lakewood, NY, offers a beautiful view of Chautauqua Lake. The property features three approved entrances from Fairmount, 4th, and Chautauqua Avenues, along with approximately 20 additional parking spaces attached to the property owner's parking lot. Situated next door to a busy Crosby's gas station, it is the first fuel stop on Southbound 394 (Fairmount) from I86. The location is approximately 1 mile from Southern Tier Brewing and 10 miles from the Chautauqua Institution, serving as the first quick-service restaurant (QSR) lot into town from the Chautauqua Institution. The property is 5 miles from I86. If used as a quick-service restaurant, it could be the only one listed on the interstate logo sign, as others are just outside the required distance, catching westbound I86 traffic before Jamestown after a 30+ mile stretch from I90 without food. Municipal utilities are available, including existing 200 amp electric service (with more available) and signage. A building is approved and planned to begin. Dividing the lot or other opportunities will be considered. The property has HC zoning and is suitable for restaurants and retail properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Nail Salon Building Supply Auto Repair Shop Skin Care Clinic Big Box & Wholesale Store Kitchen & Bath Showroom Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Chautauqua
    State
    New York
    Longitude
    -79.35162
    Latitude
    42.09895

    Nearby Similar for Lease

    • $12 SF/Yr
      14,000 SF

      Lakewood Commercial Space For Lease

      Lease space available with high visibility and ample parking.
      280 E Fairmount Avenue, Lakewood, NY 14750
      View Details
    • $12 SF/Yr
      4,800 SF

      Lakewood, NY Commercial Land

      Commercial land available for rent in Lakewood, New York.
      280 E Fairmount Avenue, Lakewood, NY 14750
      View Details
    • Contact for pricing
      2,125 SF

      Lakewood Retail Space Available

      Retail space for rent in Lakewood, NY.
      279 E Fairmount Ave, Lakewood, NY
      View Details

    FAQs

    What type of property is this?
    Commercial land - Gravel lot with lake view, ideal for quick-service restaurant.
    Where is this commercial land located?
    The property is located at 4453 W Fairmount Avenue Lakewood, NY.
    What is the lease rate?
    The lease rate is $3,400 /Mo.
    What are key features of this property?
    This property features: Prime location to capture I‑86 Westbound traffic, being the only quick‑service restaurant listed on the interstate logo sign after a 30+ mile stretch without food options.; High‑visibility location next to a busy Crosby's gas station, the first fuel stop on Southbound 394 from I‑86.; Approved building plans and flexibility for lot division or other development opportunities.
    (888) 400-2513
    We can help!
    Listing Contact
    Jonathan Minerick
    Jonathan Minerick
    Real Estate License ID: 10311209448
    Learn More
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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.

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