Historic Mixed-Use
For Sale
$475,000
1091 Jamison Road, Elma, NY 14059
C-2 commercial zoning supports possible office, retail, restaurant, child care, and art studio uses.
Property Size3,956 SF
Days on Market48
Property Features for 1091 Jamison Road
General Information
Standard status
Active
Size
3,956 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
C-2, Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,086
Amenities
hardwood and tile floors
12-foot ceilings
hand-carved wooden bar
2-zone security system
VPN lines
backup generator
Building Details
Building Size
3,956 SF
Year Built
1887
Buildings
1
Stories
1
Listing Agency:
Howard Hanna WNY Inc.
(716) 984-3040
Listed By:
Renee Day
(716) 984-3040
Source:
Homeprocny
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 8 at 11:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
Built in 1887, this mixed-use commercial building combines historic construction with features suited to several business formats. The interior includes hardwood and tile flooring, 12-foot ceilings, and a hand-carved wooden bar. Modern infrastructure includes a two-zone security system, VPN lines, and a backup generator.
The property is located at 1091 Jamison Road in Elma, on a county-maintained road with access to NY Route 400. Its prior uses have included a tavern, local post office, bar and restaurant, office building, and field office. C-2, Commercial zoning identifies possible applications including office, retail, restaurant, child care, and art studio space.
The property is located at 1091 Jamison Road in Elma, on a county-maintained road with access to NY Route 400. Its prior uses have included a tavern, local post office, bar and restaurant, office building, and field office. C-2, Commercial zoning identifies possible applications including office, retail, restaurant, child care, and art studio space.
Key Highlights
- 1887 construction with prior tavern, post office, restaurant, office, and field office uses
- C‑2, Commercial zoning
- Located on Jamison Road with access to NY Route 400
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,162
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$743,240
$743.2K
Cap Rate 7%
$530,886
$530.9K
Cap Rate 9%
$412,911
$412.9K
Market Conditions
NOI Build-Up for 3,956 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.2K $18.00/SF
− Vacancy
−$11.7K −$2.97/SF
EGI
$59.5K $15.03/SF
− OpEx
−$22.3K −$5.64/SF
NOI
$37.2K $9.39/SF
Area
Erie County, NY
Vacancy
16.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$743,240
Cap Rate 7%
$530,886
Cap Rate 9%
$412,911
Alternative Uses
Best Use
Office B
$708.2K
$619.6K – $826.2K
NOI $49,571 @ 7.0% cap · market cap 10.44%
Second Best
Specialty Retail
$680.5K
$595.5K – $794.0K
NOI $47,638 @ 7.0% cap · market cap 10.03%
Theoretical Best
Office A
$864.8K
$756.7K – $1.01M
NOI $60,536 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 14059, NY
9,280
Population
3,803
Households
2.4
Avg Household Size
51
Median Age
42%
College-Educated
97%
High-School Grad
26.9 sq mi
ZIP Area
345
Density / Sq Mi
$101,698
Median Household Income
$60,569
Median Earnings
$1,316
Median Rent
$323,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-2 commercial zoning supports possible office, retail, restaurant, child care, and art studio uses.
Where is this mixed-use property located?
The property is located at 1091 Jamison Road Elma, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1887 construction with prior tavern, post office, restaurant, office, and field office uses; C‑2, Commercial zoning; Located on Jamison Road with access to NY Route 400
