Prime Lewiston Commercial
For Sale
$674,900
716 Center St, Lewiston, NY 14092
Updated commercial building in Lewiston's business district.
Property Size3,960 SF
Price / SF$170.43
Days on Market111
Property Features for 716 Center St
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Commercial
Building Details
Year Built
1960
Listing Agency:
Deal Realty, Inc
(716) 940-0548
Listed By:
Cheryl Deal · License #10311205717
(716) 940-0548
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 11 at 11:37AM
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 Deal Realty, Inc
Investment Insights
Based on property information with market context.
This commercial building is located in the heart of the Village of Lewiston business district on Center Street, surrounded by small businesses, boutiques, shops, and restaurants. The property is configured as a two-unit commercial building, but can function as one larger unit. Both units are updated and move-in ready, featuring private entrances and exits. Unit One is currently occupied, presenting an investment opportunity. It features a foyer entry with large windows, a built-in reception desk, wood floors, recessed lighting, crown molding, and custom built-in cabinetry. The front office offers ample built-ins, while the hallway leads to an updated half bath and an additional versatile space that can serve as a kitchenette or expanded workspace. The rear office includes built-in cabinetry and a private door leading directly to the back parking lot. The second unit also showcases large exterior windows overlooking Center Street, built-in cabinetry, recessed lighting, and a combination of private and open office areas. Additional features include an updated half bath and a kitchen equipped with a sink, microwave, refrigerator and dishwasher. Dual front and rear entrances enhance accessibility and visibility. The partially finished basement accessible from this unit offers additional office space, a half bath, storage, glass block windows, two furnaces, updated mechanics & a sump pump. The square footage per tax records reflects 3,960, with 2,440 on the 1st floor & 1,520 in the partially finished basement.
Key Highlights
- Prime location on Center Street in the heart of the Village of Lewiston business district.
- Two‑unit commercial building with income potential from existing tenant in Unit One.
- Fully updated and move‑in ready condition.**
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
$56,005
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
8.30%
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%
$1,120,100
$1.1M
Cap Rate 7%
$800,071
$800.1K
Cap Rate 9%
$622,278
$622.3K
Market Conditions
NOI Build-Up for 3,960 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
$85.5K $21.60/SF
− Vacancy
−$10.9K −$2.74/SF
EGI
$74.7K $18.86/SF
− OpEx
−$18.7K −$4.71/SF
NOI
$56.0K $14.14/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,120,100
Cap Rate 7%
$800,071
Cap Rate 9%
$622,278
Alternative Uses
Best Use
Office B
$800.1K
$700.1K – $933.4K
NOI $56,005 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.36M
$2.94M – $3.93M
NOI $235,536 @ 7.0% cap · market cap 34.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 14092, NY
11,030
Population
5,241
Households
2.1
Avg Household Size
51
Median Age
40%
College-Educated
95%
High-School Grad
21.2 sq mi
ZIP Area
520
Density / Sq Mi
$67,835
Median Household Income
$48,315
Median Earnings
$979
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Updated commercial building in Lewiston's business district.
Where is this office units located?
The property is located at 716 Center St Lewiston, NY.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Prime location on Center Street in the heart of the Village of Lewiston business district.; Two‑unit commercial building with income potential from existing tenant in Unit One.; Fully updated and move‑in ready condition.**
