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    Commercial Land with Public Utilities Title is generated by Realmo AI

    12 W Fairmount Avenue, Lakewood, NY 14750

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    Claim this Listing
    New
    For Sale
    $159,000

    SINGLE_FAMILY - Lakewood, NY

    Type:Office
    Lot size:
    1.08 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 12 W Fairmount Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Property condition
    Under Construction
    Zoning
    B2
    Parking
    20
    Standard status
    Active
    APN
    062201-385-007-0005-046-000
    Lot size
    1.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4041

    Utilities

    Heating system
    Natural Gas

    We can help!

    Listing Contact
    James Johnson
    James Johnson

    Listing agent James Johnson License #40JO1146194

    Listing office Real Estate Advantage 800 Fairmount Ave. W.E., Jamestown, NY

    Listing date Jun 2, 2026

    MLS# R1664673

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Just over 1‑acre commercially zoned lot in Lakewood, NY on a high‑traveled highway in Chautauqua County
    • 20‑car parking included, with easy access near a traffic light
    • Cleared site after demolition and cleanup; former structure inspected prior to demolition with a clean bill of health
    • Public water and public sewer available
    • Adjacent to the Lakewood Post Office and across from Community Bank
    • Heating: natural gas; property condition: under construction

    Overview

    This B2-zoned commercial land parcel in Lakewood has been prepared for redevelopment, with a former structure cleared. The site previously received an inspection before demolition and cleanup, providing a true blank canvas for an owner-operator or investor to build to their specific needs. Public water and public sewer are available, supporting a wide range of commercial concepts.

    The property is positioned on one of Chautauqua County’s higher-traveled highways, benefiting from strong visibility and convenient access near a traffic light. The site also features ample on-site parking for up to 20 cars, helping prospective customers reach your business without friction. Location-wise, it sits next door to the Lakewood Post Office and across from Community Bank, in an established retail and service-oriented area.

    With the combination of highway visibility, practical parking capacity, and utility access, this parcel is well-suited for retail, professional office use, a car lot, or an automobile service and repair concept. If you’re looking for a commercially zoned site in Lakewood with room to develop and room for future flexibility, this lot offers a straightforward foundation to move quickly from planning to construction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Chautauqua
    State
    New York
    Longitude
    -79.327112
    Latitude
    42.09833

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    FAQs

    What type of property is this?
    Commercial land - B2-zoned commercial lot in Lakewood offering strong visibility and public water and sewer for flexible business development.
    Where is this commercial land located?
    The property is located at 12 W Fairmount Avenue Lakewood, NY.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: Just over 1‑acre commercially zoned lot in Lakewood, NY on a high‑traveled highway in Chautauqua County; 20‑car parking included, with easy access near a traffic light; Cleared site after demolition and cleanup; former structure inspected prior to demolition with a clean bill of health
    (716) 664-1762
    We can help!
    Listing Contact
    James Johnson
    James Johnson
    Real Estate License ID: 40JO1146194
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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
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