Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    43 Central Ave Lancaster, NY 14086

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    Restored mixed-use building featuring apartments and office units.

    Type:Office
    Property size:
    12,313 SF
    Price / SF:
    $97/SF
    Added:
    Nov 21, 2025
    Days on Market:
    161
    Last Refresh:
    Apr 5 at 8:58 pm

    Property Features for 43 Central Ave

    General Information

    Standard status
    Active
    Size
    12,313 SF
    Property subtype
    Office

    Building Details

    Year Built
    1896

    We can help!

    Listing Contact
    Ronald Gunner Tronolone

    Listing agent Ronald Gunner Tronolone License #NY #30TR0558114

    Listing office

    Listing date Nov 21, 2025

    Source Huntcommercial

    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 Ronald Gunner Tronolone

    Overview

    Historic Mixed-Use Building, Lancaster

    This historic three-story building, located in the new development district of the Village of Lancaster, was fully restored in 2015. The property features three residential apartments and two office units. The building has new windows throughout. Exterior work includes brick pointing and painting. The property also features roof repairs and new mechanics, including five new electrical panels, five furnaces, five air conditioning units, and five hot water tanks. The units include stainless steel appliances such as refrigerators, microwaves, and gas stoves. All appliances are included. The property is located on Central Avenue near Broadway. Windows, brick work and exterior paint were approved by SHPO. The property size is 12313 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tiveron Law PLLC Law Firm J. Michael Kelleher ... Law Firm Offer Advantage Real Estate Agency Construction Advantage LLc Construction Company Severyn Development Construction Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.67
    Latitude
    42.9021

    Nearby Similar for Sale

    • $669,000
      9,856 SF

      Lancaster Mixed-Use Investment Opportunity

      Mixed-use property in Lancaster Village with retail and residential units.
      5476 Broadway Street, Lancaster, NY 14086
      View Details
    • $460,000
      6,103 SF

      Versatile Lancaster Commercial Building

      6,103 sq ft building with showroom, office, and basement.
      3568 Walden Ave, Lancaster, NY 14086
      View Details
    • $439,900

      Mixed-Use Property in High-Traffic Area

      Mixed-use property with commercial space and residential apartments for sale.
      3284 Walden Ave, Lancaster, NY 14043
      View Details
    • $224,899
      1,072 SF

      Renovated Two-Unit Building

      Completely renovated two-unit building near West Main Street.
      17 Saint Marys Street, Lancaster, NY 14086
      View Details
    • $500,000
      12,188 SF

      Renovated Office Building in Lancaster

      Extensively renovated office building with parking in historic village downtown.
      5400 Broadway, Lancaster, NY 14086
      View Details
    • $2,100,000
      31,500 SF

      Flex Space Investment Opportunity

      Flex space investment property with long-term tenants and zero vacancies.
      491 Erie St, Lancaster, NY 14086
      View Details
    • $359,900

      Renovated Lancaster Multi-Family Property

      Completely renovated 2-unit property with strong income potential.
      5869 Broadway St, Lancaster, NY 14086
      View Details
    • $669,000
      1,000 SF

      Mixed-Use Investment Opportunity in Lancaster

      Mixed-use property with retail and residential units in Lancaster Village.
      5476 Broadway St, Lancaster, NY 14086
      View Details
    • $330,000

      Lancaster Village Two-Unit Home

      Two-unit property in Lancaster Village with investment potential.
      74 Vandenberg Ave, Lancaster, NY 14086
      View Details
    • $287,500

      Lancaster Office or Retail Opportunity

      1,600+/- SF office/retail space with high visibility and ample parking.
      5300 Broadway Street, Lancaster, NY 14086
      View Details
    • $415,000

      Updated Duplex with Tenant Leases

      Well-maintained duplex with updated mechanics and tenant leases.
      169 Warner Rd 167, Lancaster, NY 14043
      View Details
    • $4,950,000
      60,000 SF

      Lancaster Office Property on Acres

      Two-story, 59,804 SF LEED Certified office on 119 acres.
      368 Pleasant View, Lancaster, NY 14086
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Restored mixed-use building featuring apartments and office units.
    Where is this mixed-use property located?
    The property is located at 43 Central Ave Lancaster, NY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Fully restored in 2015 with historically sensitive renovations approved by SHPO.; Includes 3 residential apartments and 2 office units, offering diverse income potential.; All new mechanics installed in 2015: 5 electrical panels, 5 furnaces, 5 ACs, and 5 HWTs.
    (716) 880-1913
    We can help!
    Listing Contact
    Ronald Gunner Tronolone
    Real Estate License ID: NY #30TR0558114
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    43 Central Ave, Lancaster, NY 14086

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!