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    561 Ridge Rd Lackawanna, NY 14218

    Sponsored
    For Sale
    $245,000

    Nine-office building, high-income potential. Renovated, great location.

    Property size:
    5,721 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a 5,721 square foot office building situated on a 0.21-acre lot at 561 Ridge Rd, Lackawanna, NY. The property boasts nine professional offices on the first floor, conveniently equipped with three bathrooms and a kitchenette. Currently generating income, this building offers immediate return on investment. The second floor presents a significant value-add opportunity for expansion or further development. The basement has been recently renovated, adding to the overall functionality and appeal. A new HVAC system ensures efficient climate control throughout the building. Ample parking is available with 10+ spaces, plus additional garage space. The property's location within the Central Business District zoning area provides excellent access to amenities and services. Its proximity to downtown Buffalo, less than 10 minutes away, further enhances its desirability and accessibility. This is a rare chance to acquire a well-maintained, income-producing office building with significant upside potential in a thriving location. The combination of existing income, renovation updates, and strategic location makes this an attractive investment for discerning buyers.

    Property Features for 561 Ridge Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    5,721 SF
    Lot Size
    9,148 SF

    Building Details

    Year Built
    1938
    Property Profile Location Intelligence

    Current Use by Public Records

    Frank Bybel Law ... Attorney Jason Shear Law Consultant Dr. Leo Michalek General Practitioner Law Offices Attorney

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lackawanna
    County
    Erie
    State
    New York
    Longitude
    -78.83083
    Latitude
    42.8255

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    FAQs

    What type of property is this?
    Office Property / Space - Nine-office building, high-income potential. Renovated, great location.
    Where is this office property / space located?
    The property is located at 561 Ridge Rd Lackawanna, NY.
    What is the asking price?
    The asking price for this property is $245,000.
    (716) 856-7107
    Request Owner's contact information
    561 Ridge Rd Lackawanna, NY 14218
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    Lackawanna, NY 14218
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    Realmo Value Estimation

    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.

    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.

    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
    561 Ridge Rd Lackawanna, NY 14218
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