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

    505 Aero Dr Cheektowaga, NY 14225

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,900

    Well-maintained office building with 19 offices and ample parking.

    Building Details

    Year built
    1951

    We can help!

    Listing Contact
    Ronald Gunner Tronolone
    Ronald Gunner Tronolone
    Source: Huntcommercial

    Listing Agency: Hunt Commercial - Buffalo Listing Agent: Ronald Gunner Tronolone

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

    Learn more

    Property Insight Report

    Overview

    Single-Story Office Building for Sale

    This single-story office building, with an adjusted actual square footage of 3,051 square feet plus an attached 880-square-foot garage/storage area, totals 3,931 square feet. Constructed in 1951 with remodeling and additions in 2000, 2005, and 2015, the building features 19 offices, 4 bathrooms, and a kitchen. It includes 21 parking spaces on approximately half an acre of land. The property has a 6-year-old metal roof, 150 amp electrical service, central air, and heat. Both the interior and exterior of the building are well-maintained and functional. The property is located near the Buffalo Niagara Airport, between Aero and Holtz Road. It is suitable for office use. The owner is relocating to grow the business and will consider a lease at $12 per square foot triple net ($3931 per month + Taxes $608 + Utilities + Maintenance). Available August 1, 2023. Note that the square footage of the building is incorrect on the tax rolls at 6895 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7211192
    Latitude
    42.9427566

    Nearby Similar for Sale

    • New
      $669,000
      9,856 SF

      Lancaster Mixed-Use Investment Opportunity

      Mixed-use property in Lancaster Village with retail and residential units.
      5476 Broadway St, Lancaster, NY 14086
      View Details
    • New
      $224,900
      1,072 SF

      Renovated Two-Unit Building Near Village

      Completely renovated two-unit building near West Main Street.
      17 Saint Marys St, Lancaster, NY 14086
      View Details
    • $315,000
      Pending

      Updated Duplex Near Transit Road

      Well-maintained 2-unit property with updated apartments and convenient location.
      66 S Bellevue Ave, Depew, NY 14043
      View Details
    • $299,900
      Pending

      Renovated Two-Family Home with Garage

      Fully renovated two-family home on a spacious double lot.
      5963 Transit Rd, Depew, NY 14043
      View Details
    • $999,900

      Established Commercial Building with Parking

      Commercial building with large parking lot and patio.
      5055 Broadway, Lancaster, NY 14043
      View Details
    • $599,900

      Two Office Buildings For Sale

      Two professional office buildings with multiple suites and long-term tenants.
      932 French Rd, Cheektowaga, NY 14227
      View Details
    • $899,900

      Retail Investment Property For Sale

      Retail investment property with two tenants and ample parking.
      3941 Broadway, Cheektowaga, NY 14227
      View Details
    • $549,000

      Operating Car Wash on Transit

      Self-serve car wash with vacuum stalls on Transit Road.
      6283 Transit Rd, Depew, NY 14043
      View Details
    • $800,000

      Auto Garage on Corner Lot

      Auto garage with high visibility and additional vacant lot.
      2810 Harlem Rd, Cheektowaga, NY 14225
      View Details
    • $299,777
      Pending

      Converted Office Building For Sale

      All brick building converted to offices with parking.
      3517 Genesee St, Cheektowaga, NY 14225
      View Details
    • $300,000

      Versatile Commercial Building with Expansion Potential

      Adaptable commercial space with expansion options in prime retail area.
      2197 George Urban Blvd, Depew, NY 14043
      View Details
    • $449,000

      Transit Road Commercial Building For Sale

      Two-story retail/office building with high traffic exposure.
      6260 Transit Rd, Depew, NY 14043
      View Details

    FAQs

    What type of property is this?
    Office building - Well-maintained office building with 19 offices and ample parking.
    Where is this office building located?
    The property is located at 505 Aero Dr Cheektowaga, NY.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Single-story office building with approximately 3,931 sq ft of functional space.; - Includes 19 offices, 4 bathrooms, and a kitchen.; - Ample parking with 21 spaces on approximately 1/2 acre of land.
    (716) 913-7107
    Request Owner's contact information
    505 Aero Dr Cheektowaga, NY 14225
    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.
    505 Aero Dr
    Cheektowaga, NY 14225
    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
    505 Aero Dr Cheektowaga, NY 14225
    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

    We can help!
    Listing Contact
    Ronald Gunner Tronolone
    Ronald Gunner Tronolone
    Real Estate License ID: #30TR0558114
    (716) 913-7107 (716) 854-5943 (716) 880-1913
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!