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

    231 S Transit St Lockport, NY 14094

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $995 /Mo

    650 sqft office space for rent with three rooms.

    Lot size:
    0.20 Acres

    Property Features for 231 S Transit St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.20 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Kevin Mcmullen
    Source: Elliman

    Listing Agency: Towne Housing Real Estate Listing Agent: Kevin Mcmullen

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

    Learn more

    Overview

    Renovated Office Space Available

    This is a 650 square foot office space available for lease. The unit features three rooms or offices. The lease includes electric, heat, and air conditioning, as well as snow removal and common area maintenance. The office is located on the second floor and includes access to a parking lot. There is lit signage available on Transit Road.
    Location Intelligence

    Current Use by Public Records

    Pathfinder Healthcare Medical Clinic Body Secrets LLC Spa & Massage Center

    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
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.697118
    Latitude
    43.1611765

    Nearby Similar for Lease

    • $14 SF/Yr
      2,860 SF

      Visible Office Space For Lease

      Office space for lease in a high-traffic Lockport location.
      526 S Transit St, Lockport, NY 14094
      View Details
    • New
      $995 /Mo
      300 SF

      Modern Commercial Space in Lockport

      Sleek commercial space with vaulted ceilings, suitable for various businesses.
      45 Main St, Lockport, NY 14094
      View Details
    • $9 SF/Yr

      Lockport Office Park Suites Available

      Professional office suites for lease in Lockport, NY.
      125 Professional Pkwy, Lockport, NY 14094
      View Details
    • Contact for pricing

      Lockport Medical & Professional Office

      Medical and professional office space available for lease.
      42 Professional Pkwy, Lockport, NY 14094
      View Details
    • Contact for pricing

      Medical/Professional Office Park Suites

      Office suites available in a medical and professional park.
      57 Davison Ct, Lockport, NY 14094
      View Details
    • $8 SF/Yr

      Mixed-Use Industrial Building For Rent

      Well-maintained 9,900 SF mixed-use building with parking for rent.
      285 Market St, Lockport, NY 14094
      View Details
    • $995 /Mo

      Renovated Office Space Available

      650 sqft office space for lease with included utilities.
      231 S Transit St, Lockport, NY 14094
      View Details
    • $650,000

      Mixed-Use Building in Lockport, NY

      Commercial building with storefronts and office spaces in Lockport.
      150 Washburn St, Lockport, NY 14094
      View Details
    • $8 SF/Yr

      Lockport Warehouse Space Available

      2800 SF warehouse with 14' ceilings and parking.
      3454 Ewings Rd, Lockport, NY 14094
      View Details
    • $3,975 /Mo

      Lockport Prime Corner Showroom/Office

      Showroom and office space with vehicle display lot available for lease.
      5967 Robinson Rd, Lockport, NY 14094
      View Details
    • Contact for pricing

      Adaptable Commercial Units For Rent

      Spacious commercial units with adaptable layout in high-visibility location.
      6503-6515 Campbell Blvd, Lockport, NY 14094
      View Details
    • Contact for pricing

      Professional Parkway Office Suites

      Office suites available for lease in Lockport, NY.
      115 Professional Pkwy, Lockport, NY 14094
      View Details

    FAQs

    What type of property is this?
    Office units - 650 sqft office space for rent with three rooms.
    Where is this office units located?
    The property is located at 231 S Transit St Lockport, NY.
    What is the lease rate?
    The lease rate is $995 /Mo.
    What are key features of this property?
    This property features: - Rent includes electric, heat, and AC.; - Renovated 650 sqft office space with 3 rooms/offices.; - Includes snow removal and common area maintenance.
    (716) 308-3145
    Request Owner's contact information
    231 S Transit St Lockport, NY 14094
    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.
    231 S Transit St
    Lockport, NY 14094
    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
    231 S Transit St Lockport, NY 14094
    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
    Kevin Mcmullen
    (716) 308-3145 (716) 264-4135
    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!