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    V/L 6721 Aiken Road Lockport, NY 14094

    View on Map
    For Sale
    $2,000,000

    LAND - Ranch - Lockport, NY

    Type:Single Family Residence
    Property size:
    1,976 SF
    Lot size:
    22.80 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    149
    Last Refresh:
    Apr 1 at 8:06 am

    Property Features for V/L 6721 Aiken Road

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Property condition
    Under Construction
    Rooms
    Basement
    Parking features
    Open, Garage, Driveway
    Vegetation
    Wooded
    Patio and Porch features
    Porch
    Interior features
    EntranceFoyer, EatInKitchen, KitchenFamilyRoomCombo, Pantry, SlidingGlassDoors, BedroomOnMainLevel, MainLevelPrimary
    Exterior features
    BlacktopDriveway, FullyFenced, Pool
    Fencing
    Fenced
    Appliances
    AppliancesNegotiable, GasWaterHeater
    Standard status
    Active
    APN
    293200-149-004-0001-016-001
    Size
    1,976 SF
    Lot size
    22.80 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    8890

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Carpet, Varies, Tile, Hardwood
    Building materials
    Brick, Frame, PexPlumbing
    Roof type
    Asphalt
    Architectural style
    Ranch
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Jill Richards

    Listing agent Jill Richards License #10301224262

    Listing office WNY Metro Town Center Realty Inc. 1980 Whitehaven Road Ste 1, GRAND ISLAND, NY

    Listing date Nov 3, 2025

    MLS# B1648648 Listing URL

    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.

    Overview

    22.8 Acres Development Opportunity

    This 22.8-acre property in Lockport, NY, presents a development opportunity. It consists of two parcels, one of which includes a single-family home. The property has the potential to build 24 or more single-family homes, subject to Town of Pendleton approval and other governmental agencies. The property will not be divided and includes two tax identifications. A sewer line is available but has not been tapped, as the existing house currently uses a septic system. A small area of wetland is located near Bull Creek on the north side of the property. The location is within the Starpoint School District. Access is available from Aiken Road. The existing house and several outbuildings may need to be removed to create a new access road. The property is a combination of two parcels: 15 acres and 7.8 acres. Taxes and lot measurements represent the combined lots.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dispenza Farms Food Processing Plant

    Suggested Use

    Building Supply Big Box & Wholesale Store HVAC Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.679584
    Latitude
    43.171395

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    FAQs

    What type of property is this?
    Land - 22.8 acres suitable for residential development in Lockport, NY.
    Where is this land located?
    The property is located at V/L 6721 Aiken Road Lockport, NY.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Development Opportunity: 22.8 acres suitable for building 24+ single‑family homes (subject to approvals).; Two Parcels Included: Combination of 15‑acre and 7.8‑acre lots being sold together.; Untapped sewer line present on the property.
    (716) 998-7383
    We can help!
    Listing Contact
    Jill Richards
    Real Estate License ID: 10301224262
    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.

    More about this property
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