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

    45 Crane St Lancaster, NY 14043

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Pending
    $219,000

    Fully occupied triplex in Depew, NY, offering steady income.

    Lot size:
    0.11 Acres

    Property Features for 45 Crane St

    General Information

    Property type
    Multi Family
    Standard status
    Pending
    Lot size
    0.11 Acres

    Building Details

    Year built
    1935

    We can help!

    Listing Contact
    Timothy Mulhern
    Source: Elliman

    Listing Agent: Timothy Mulhern

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

    Learn more

    Overview

    Depew Triplex Investment Opportunity

    Located at 45 Crane St in Depew, NY, this fully occupied triplex represents an investment opportunity with potential for growth. The property features three units: a 2-bedroom, 1-bathroom upper unit; a 1-bedroom, 1-bathroom lower unit; and a 2-bedroom, 1.5-bathroom rear unit. The location provides convenient access to Transit Rd, placing shopping, dining, and major job centers within a short distance. The property is positioned as a multi-family asset suitable for building long-term wealth.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.6809542
    Latitude
    42.9156834

    Nearby Similar for Sale

    • 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
    • $999,900

      Established Commercial Building with Parking

      Commercial building with large parking lot and patio.
      5055 Broadway, Lancaster, NY 14043
      View Details
    • $299,999
      2,337 SF

      Broadway Street Auto Shop Opportunity

      Auto shop with detached home and high-visibility frontage.
      6526 Broadway St, Lancaster, NY 14086
      View Details
    • $500,000

      Renovated Office Building in Lancaster

      Extensively renovated office building with parking in historic village downtown.
      5400 Broadway, Lancaster, NY 14086
      View Details
    • $500,000
      2,994 SF

      Retail Property in Lancaster, NY

      Retail property available for sale in Lancaster, New York.
      5383 Broadway, Lancaster, NY 14043
      View Details
    • $287,500

      Lancaster Office or Retail Opportunity

      1,600+/- SF office/retail space with high visibility and ample parking.
      5300 Broadway St, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Prime Corner Redevelopment Opportunity

      High-visibility corner location suitable for redevelopment or continued use.
      5346 Broadway St, Lancaster, NY 14086
      View Details
    • $4,950,000

      Lancaster Office Property on Acres

      Two-story, 59,804 SF LEED Certified office on 119 acres.
      368 Pleasant View Dr, Lancaster, NY 14086
      View Details
    • $364,999

      Lancaster Triplex Investment Opportunity

      Well-maintained 3-unit property near Lancaster Village.
      51 Laverack Ave, Lancaster, NY 14043
      View Details
    • $429,000

      Updated Duplex with Leases

      Two updated apartments with leases, shared parking, and yard.
      169 Warner Rd, Lancaster, NY 14043
      View Details
    • $429,000

      Updated Duplex with Shared Yard

      Three-bedroom duplex featuring updated interiors and shared outdoor space.
      169 Warner Rd, Lancaster, NY 14043
      View Details
    • $899,000

      Lancaster Multifamily Property for Sale

      Multifamily property in Lancaster, NY, available for purchase.
      1 Wendel St, Lancaster, NY 14043
      View Details

    FAQs

    What type of property is this?
    Triplex - Fully occupied triplex in Depew, NY, offering steady income.
    Where is this triplex located?
    The property is located at 45 Crane St Lancaster, NY.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: - Fully occupied triplex providing immediate rental income.; - Desirable Depew location with high tenant demand.; - Convenient access to Transit Rd, shopping, dining, and job centers.
    (716) 714-0343
    Request Owner's contact information
    45 Crane St Lancaster, NY 14043
    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.
    45 Crane St
    Lancaster, NY 14043
    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
    45 Crane St Lancaster, NY 14043
    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
    Timothy Mulhern
    (716) 714-0343 (716) 883-2200 (716) 697-9025
    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!