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    The Largest CRE Database in the US with Over 1 Million Listings

    716 Center St Lewiston, NY 14092

    Sponsored
    For Sale
    $674,900

    COMMERCIAL - Lewiston, NY

    Property size:
    3,960 SF
    Lot size:
    0.21 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 28 at 1:06 pm

    Property Features for 716 Center St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    R-B-2
    Rooms
    Basement
    APN
    292401-101-011-0001-050-000
    Parking features
    Paved or Surfaced
    Size
    3,960 SF
    Lot size
    0.21 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1960
    Floors in Building
    1
    Flooring type
    Hardwood, Varies, Carpet
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Cheryl Deal
    Cheryl Deal

    Deal Realty, Inc (716) 754-3301

    Listing agent Cheryl Deal (716) 754-3301 License #10311205717

    Listing date Feb 23, 2026

    MLS# B1663081

    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

    Prime Lewiston Commercial Opportunity

    Located in the heart of the Village of Lewiston business district on Center Street, this commercial property offers visibility and is surrounded by small businesses, boutiques, shops, and restaurants. The building is configured as a two-unit commercial space but can function as one larger unit. Both units are updated and move-in ready, featuring private entrances and exits. Unit One is currently occupied, presenting an investment opportunity to occupy one unit while generating rental income from the other, or plan for future expansion. Unit One includes a foyer entry with large windows, a built-in reception desk, wood floors, recessed lighting, crown molding, and custom built-in cabinetry. It also features a front office with built-ins, an updated half bath, a versatile space that can serve as a kitchenette or workspace, and a rear office with built-in cabinetry and a private door to the back parking lot. The second unit has large exterior windows overlooking Center Street, built-in cabinetry, recessed lighting, and a combination of private and open office areas. It also includes an updated half bath and a kitchen equipped with a sink, microwave, refrigerator, and dishwasher. Dual front and rear entrances enhance accessibility. The partially finished basement, accessible from this unit, offers additional office space, a half bath, storage, glass block windows, two furnaces, updated mechanics, and a sump pump. The property size is 3,960 square feet, with 2,440 square feet on the first floor and 1,520 square feet in the partially finished basement, according to tax records. The lot size is 0.2121 acres. The zoning is R-B-2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Princeton Equity, LLC Financial Advisor Joann Parisi, Hunt ... Real Estate Agency Anne Smith, Hunt ... Real Estate Agency HUNT Real Estate ... Real Estate Agency Debbie West, Hunt ... Real Estate Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewiston
    County
    Niagara
    State
    New York
    Longitude
    -79.038207
    Latitude
    43.173009

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    FAQs

    What type of property is this?
    Office building - Updated commercial building in Lewiston's business district with income potential.
    Where is this office building located?
    The property is located at 716 Center St Lewiston, NY.
    What is the asking price?
    The asking price for this property is $674,900.
    What are key features of this property?
    This property features: - Prime location on Center Street in the heart of Lewiston's business district, offering high visibility and foot traffic.; - Two-unit commercial building with income potential from existing tenant in Unit One, allowing for owner occupancy and rental income.; - Fully updated and move-in ready condition, minimizing immediate renovation costs.
    (716) 940-0548
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    Lewiston, NY 14092
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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
    716 Center St Lewiston, NY 14092
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    We can help!
    Listing Contact
    Cheryl Deal
    Cheryl Deal
    Real Estate License ID: 10311205717
    (716) 940-0548 (716) 754-3301
    Learn more
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