Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Aurora Multifamily Opportunity Title is generated by Realmo AI

    47 Elm St St, Aurora, NY 14052

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,275,000

    Unique opportunity to revitalize a historic East Aurora property.

    Type:Commercial
    Lot size:
    0.50 Acres
    Added:
    Nov 27, 2025
    Days on Market:
    175
    Last Refresh:
    May 10 at 9:22 pm

    Property Features for 47 Elm St St

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    J. Gerard Green
    J. Gerard Green

    Listing agent J. Gerard Green License #10491210016

    Listing office RE/MAX Precision

    Listing date Nov 27, 2025

    Source Elliman

    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 RE/MAX Precision

    HighLights

    • Half‑acre lot in the heart of The Village of East Aurora.
    • Includes two buildings: The Caboose and The 4 Story Grain Elevator.
    • Over 386 feet of road frontage.
    • Parking for approximately 23 cars.
    • Variances granted to build 12 apartments.
    • Located on the vibrant Elm St. corridor.

    Overview

    This property, located in the heart of The Village of East Aurora, presents an opportunity to bring new life into a historic building. Situated on a half-acre lot, the property features over 386 feet of road frontage and parking for approximately 23 cars. The site includes two buildings: The Caboose and The 4 Story Grain Elevator. The primary building has been granted three variances by The Village of East Aurora to build 12 apartments, and these variances remain with the property for a new owner interested in pursuing this use. The property is located on the vibrant Elm St. corridor.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Map

    City
    Aurora
    County
    Cayuga
    State
    New York
    Longitude
    -78.5853
    Latitude
    42.7704

    Nearby Similar for Sale

    • $764,900

      Main Street Commercial Property

      Highly visible commercial property with flexible use options.
      305 Main St, Aurora, NY 14052
      View Details
    • $899,900

      25.3 Acres with Artisan Barn

      Spacious land with barn, gas well, and fenced pasture.
      976 Davis Road, Aurora, NY 14052
      View Details
    • $625,000
      6,096 SF

      Historic Lakeside Four-Unit Apartment House

      Charming four-unit apartment house in Aurora, NY, near Cayuga Lake.
      245 Main Street, Aurora, NY 13026
      View Details
    • $425,000
      4,760 SF

      Four-Unit Property Near Cayuga Lake

      Investment opportunity: 4 units near Cayuga Lake and Aurora Village.
      10 Woods End, Aurora, NY 13026
      View Details
    • $425,000
      4,760 SF

      Four-Unit Property Near Cayuga Lake

      Investment opportunity: four units, garages, near Cayuga Lake.
      10 Woods End, Aurora, NY 13026
      View Details

    FAQs

    What type of property is this?
    Apartment building - Unique opportunity to revitalize a historic East Aurora property.
    Where is this apartment building located?
    The property is located at 47 Elm St St Aurora, NY.
    What is the asking price?
    The asking price for this property is $1,275,000.
    What are key features of this property?
    This property features: Half‑acre lot in the heart of The Village of East Aurora.; Includes two buildings: The Caboose and The 4 Story Grain Elevator.; Over 386 feet of road frontage.
    (716) 866-8307
    We can help!
    Listing Contact
    J. Gerard Green
    J. Gerard Green
    Real Estate License ID: 10491210016
    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
    47 Elm St St, Aurora, NY 14052
    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!