Freestanding Office
For Sale
Contact for pricing
5895 Goodrich Rd, Clarence Center, NY 14032
Historic freestanding office building with parking for 30+ cars and rear patio deck for staff and meetings.
Property Size2,702 SF
Price / SF$295.71
Days on Market124
Property Features for 5895 Goodrich Rd
General Information
Standard status
Active
Size
2,702 SF
Total Parking Spaces
30
Property subtype
OFFICE
Additional Details
Business Included
No
Amenities
conference room
kitchenette
patio deck
Listing Agency:
Recckio Real Estate & Development
(716) 834-7777
Listed By:
Rick Recckio · License #31RE0821429
(716) 998-4422
Source:
Moodyscre
Added: May 4
Changed: Aug 14
Last Checked: Sep 1 at 9:23PM
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 Recckio Real Estate & Development
Investment Insights
Based on property information with market context.
Historic freestanding office building offers space configured for four offices plus a conference room and kitchenette, along with an added rear patio deck. The property sits on a landscaped lot with parking for approximately 30+ vehicles.
Located in the Village of Clarence, the building is described as having high visibility with traffic count and favorable demographics in the surrounding area. Utilities and all CAM charges are included as part of the rent.
For professional firms seeking their own facility and a dedicated footprint in a centrally located setting, this property is presented as a turn-key option for viewing by appointment.
Located in the Village of Clarence, the building is described as having high visibility with traffic count and favorable demographics in the surrounding area. Utilities and all CAM charges are included as part of the rent.
For professional firms seeking their own facility and a dedicated footprint in a centrally located setting, this property is presented as a turn-key option for viewing by appointment.
Key Highlights
- Historic freestanding office building in the Village of Clarence
- Parking for 30+/- cars on a large landscaped lot
- Includes 4 offices plus a conference room and kitchenette
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
$33,858
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
4.24%
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%
$677,160
$677.2K
Cap Rate 7%
$483,686
$483.7K
Cap Rate 9%
$376,200
$376.2K
Market Conditions
NOI Build-Up for 2,702 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
$55.1K $20.40/SF
− Vacancy
−$10.0K −$3.69/SF
EGI
$45.1K $16.71/SF
− OpEx
−$11.3K −$4.18/SF
NOI
$33.9K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /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%
$677,160
Cap Rate 7%
$483,686
Cap Rate 9%
$376,200
Alternative Uses
Best Use
Office B
$483.7K
$423.2K – $564.3K
NOI $33,858 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$590.7K
$516.8K – $689.1K
NOI $41,347 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 14032, NY
9,368
Population
3,936
Households
2.4
Avg Household Size
43
Median Age
58%
College-Educated
96%
High-School Grad
23.9 sq mi
ZIP Area
392
Density / Sq Mi
$160,079
Median Household Income
$71,973
Median Earnings
$1,837
Median Rent
$483,500
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 building - Historic freestanding office building with parking for 30+ cars and rear patio deck for staff and meetings.
Where is this office building located?
The property is located at 5895 Goodrich Rd Clarence Center, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Historic freestanding office building in the Village of Clarence; Parking for 30+/- cars on a large landscaped lot; Includes 4 offices plus a conference room and kitchenette
