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    6558 Thomas Corners Rd West Valley, NY 14171

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    For Sale
    Pending
    $449,900

    94-acre farm with tillable land and outbuildings.

    Lot size:
    94.10 Acres

    Property Features for 6558 Thomas Corners Rd

    General Information

    Property type
    Farm and Ranch Properties
    Standard status
    Pending
    Lot size
    94.10 Acres

    We can help!

    Listing Contact
    Travis Thurston
    Source: Elliman

    Listing Agency: NY Land Quest, LLC Listing Agent: Travis Thurston

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

    Learn more

    Overview

    West Valley Farm with Creek

    Located in West Valley, Cattaraugus County, NY, this 94-acre farm offers multiple opportunities. Approximately 50 acres consist of tillable land farmed annually, while around 40 acres feature scattered woods, brush, overgrowth, and a pond. About 5 acres of lawn surround the house and outbuildings. The outbuildings include a 40 x 50 barn suitable for cattle or storage, complete with a loft previously used for hay storage. A 36 x 26 milking parlor and workshop connect to a 50 x 100 arched steel building, which can be used for cattle stalls or storage. The house, with approximately 1,440 sq. ft., requires work to be livable. A fenced area behind the barns can serve as pastureland. The tillable land is currently leased without a contract for approximately $5,000 a year. The property is also suitable for hunting. One-third of the property borders the Cattaraugus Creek, offering recreational opportunities and fishing. This property is suitable for a new farmer or someone seeking a hobby farm. Annual taxes are $5,718.22. The property is located 6 minutes from Springville NY, 23 minutes from Arcade NY and Ellicottville NY, 39 minutes from Buffalo NY, 1 hour 30 minutes from Rochester NY, and 1 hour 40 minutes from Erie PA.
    Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Auto Repair Shop Bar & Pub Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    West Valley
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.662926
    Latitude
    42.48052

    Nearby Similar for Sale

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      Secluded Farm with Creek Frontage

      94-acre farm with tillable land, outbuildings, and creek access.
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      Expansive 132-Acre Country Estate

      132-acre country property with farmhouse, second residence, outbuildings.
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      Expansive Country Property with Potential

      132-acre country property with farmhouse, residence, and outbuildings.
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    FAQs

    What type of property is this?
    Farm - 94-acre farm with tillable land and outbuildings.
    Where is this farm located?
    The property is located at 6558 Thomas Corners Rd West Valley, NY.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: - 94-acre farm featuring approximately 50 acres of tillable land and 40 acres of woods/brush.; - Income potential from leased tillable land (approximately $5,000 annually).; - Multiple outbuildings including a **40 x 50 barn, 36 x 26 milking parlor/workshop, and a 50 x 100 arched steel building.**
    (585) 386-9413
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    6558 Thomas Corners Rd West Valley, NY 14171
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    West Valley, NY 14171
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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
    6558 Thomas Corners Rd West Valley, NY 14171
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    We can help!
    Listing Contact
    Travis Thurston
    Real Estate License ID: 10301222583
    (585) 386-9413 (607) 844-9690
    Learn more
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