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

    3333 Lockport Olcott Rd Newfane, NY 14108

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    For Sale
    $599,000

    Profitable restaurant, retail units, and land for sale.

    Property size:
    11,402 SF

    Property Features for 3333 Lockport Olcott Rd

    General Information

    Size
    11,402 SF

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Sean Oliver
    Source: Huntcommercial

    Listing Agent: Sean Oliver

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Established Restaurant and Retail Opportunity

    This property features a restaurant with over 25 years of operation, including the land (over 10 acres), name and recipes, equipment, inventory, building with its contents and fixtures. The sale includes the owner's willingness to train the new owner for a year. The restaurant includes two banquet rooms that hold about 175 people, currently open for lunch and dinner. There are two large kitchen areas, a walk-in fridge, a walk-in freezer, an inventory storage room, a bakery, a large office, and plenty of storage. The property also includes over 40 retail units that generate over $80,000 a year in rental income. An indoor/outdoor bar features big screen TVs and two outdoor patios. The large parking lot has over 100 parking spaces. Over 10 acres of agricultural land offers possibilities with fruit trees. The owner may be willing to separate the land. The property has a newer roof and mechanics.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gordie Harper Bazaar Restaurant Hearts for the Homeless Donations Center Chestnut Ridge Premium ... Flag Store

    Suggested Use

    Realty agency Dental Office Wholesale Shop Hair Salon Hotel & Motel Gym & Fitness Department Store Food Market Garden Center Discount Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Newfane
    County
    Niagara
    State
    New York
    Longitude
    -78.6938854
    Latitude
    43.2538345

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    FAQs

    What type of property is this?
    Restaurant - Profitable restaurant, retail units, and land for sale.
    Where is this restaurant located?
    The property is located at 3333 Lockport Olcott Rd Newfane, NY.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Includes land (over 10 acres), building, equipment, inventory, name, and recipes; - Existing restaurant business with established rental income from 40+ retail units (Harpers Bizaar) generating over $80,000 annually; - Owner willing to train new owner for one year
    (716) 344-5472
    Request Owner's contact information
    3333 Lockport Olcott Rd Newfane, NY 14108
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    Newfane, NY 14108
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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
    3333 Lockport Olcott Rd Newfane, NY 14108
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    We can help!
    Listing Contact
    Sean Oliver
    (716) 344-5472
    Learn more
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