Building Details

Building Size 1,464 SF

Year Built 1970

Stories 1

Listing Agency: Century 21 North East g***@aol.com Show Phone

Listed By: Michael P Kaney Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 10 Last Checked: Aug 19 at 10:40AM

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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 Century 21 North East

Investment Insights

Based on property information with market context.

This corner property is currently used for personal use by the seller and has been used as an auto repair shop in the past. The property offers many options for adaptive reuse.

Key Highlights

• Highly sought after corner location.
• Adaptive reuse potential with many options.
• Previously used as auto repair shop.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$6,425

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.59%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$128,500 $128.5K

Cap Rate 7%

$91,786 $91.8K

Cap Rate 9%

$71,389 $71.4K

Market Conditions

NOI Build-Up for 1,464 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$9.8K $6.72/SF

− Vacancy

−$659 −$0.45/SF

EGI

$9.2K $6.27/SF

− OpEx

−$2.8K −$1.88/SF

NOI

$6.4K $4.39/SF

Area

Erie County, NY

Vacancy

6.70%

Lease Rate

$6.72 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$128,500

Cap Rate 7%

$91,786

Cap Rate 9%

$71,389

Alternative Uses

Best Use

Retail

$188.0K

$164.5K – $219.4K (±1% cap)

NOI $13,163 @ 7.0% cap · market cap 9.40%

Second Best

Industrial

$91.8K

$80.3K – $107.1K (±1% cap)

NOI $6,425 @ 7.0% cap · market cap 4.59%

Theoretical Best

Office A

$320.0K

$280.0K – $373.4K (±1% cap)

NOI $22,403 @ 7.0% cap · market cap 16.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Auto shops

Suggested Use

Top Pick Hair Salon Parking Lot & Garage Electrical Service Plumbing Service Spa & Massage Center Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

13k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

6,693 visits/mo 0.4 miles

7-Eleven Shops & Services

4,651 visits/mo 0.5 miles

Sunoco Shops & Services

1,830 visits/mo 0.5 miles

Demographics for 14075, NY

44,053

Population

20,164

Households

2.2

Avg Household Size

46

Median Age

38%

College-Educated

96%

High-School Grad

39.4 sq mi

ZIP Area

1,118

Density / Sq Mi

$82,083

Median Household Income

$50,934

Median Earnings

$1,129

Median Rent

$246,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Expressway Automotive — 7080 Boston State Rd, Hamburg, NY 14075
• North Boston Garage — 7440 Boston State Rd, Hamburg, NY 14075
• Hannah Arms Company — 7223 Boston State Rd, Hamburg, NY 14075
• Hannon Fabrication — 7040 S Abbott Rd Unit 400, Hamburg, NY 14075

Frequently Asked Questions

What type of property is this?

Auto shop - Corner property suitable for auto repair or adaptive reuse.

Where is this auto shop located?

The property is located at 5807 Herman Hill Rd Boston, NY.

What is the asking price?

The asking price for this property is $140,000.

What are key features of this property?

This property features: Highly sought after corner location.; Adaptive reuse potential with many options.; Previously used as auto repair shop.