Mixed-Use Property with
New
For Sale
$525,000
414 West Ave, Lockport, NY 14094
Convenience retail and coin-operated laundry share the building, with a detached garage and on-site parking.
Property Size3,936 SF
Days on Market3
Property Features for 414 West Ave
General Information
Standard status
Active
Size
3,936 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$7,080
Building Details
Building Size
3,936 SF
Year Built
1900
Stories
1
Listed By:
Joseph D Sciandra
(716) 578-0939
Source:
Elliman
Added: Sep 24
Last Checked: Sep 26 at 11:03AM
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 Joseph D Sciandra
Investment Insights
Based on property information with market context.
At 414 West Ave in Lockport, this mixed-use property combines a convenience store with an attached laundromat. Store equipment includes freestanding and walk-in coolers, freezers, display cases, and storage areas. The laundry is fitted with Speed Queen washers and dryers and uses coin-operated payment. A detached two-car garage adds separate storage space, and the site has more than 20 parking spaces.
A gas station may be added, subject to applicable approvals and installation of new underground fuel tanks. The building dates to 1900.
A gas station may be added, subject to applicable approvals and installation of new underground fuel tanks. The building dates to 1900.
Key Highlights
- Convenience store includes freestanding coolers, a walk‑in cooler, freezers, display cases, and storage areas
- Attached laundromat with Speed Queen washers and dryers and coin‑operated payment
- Detached two‑car garage
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
$43,295
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
8.25%
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%
$865,900
$865.9K
Cap Rate 7%
$618,500
$618.5K
Cap Rate 9%
$481,056
$481.1K
Market Conditions
NOI Build-Up for 3,936 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
$70.8K $18.00/SF
− Vacancy
−$9.0K −$2.29/SF
EGI
$61.9K $15.71/SF
− OpEx
−$18.6K −$4.71/SF
NOI
$43.3K $11.00/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$865,900
Cap Rate 7%
$618,500
Cap Rate 9%
$481,056
Alternative Uses
Best Use
Mixed Use
$759.1K
$664.2K – $885.6K
NOI $53,136 @ 7.0% cap · market cap 10.12%
Second Best
Retail
$618.5K
$541.2K – $721.6K
NOI $43,295 @ 7.0% cap · market cap 8.25%
Theoretical Best
Warehouse
$3.34M
$2.93M – $3.90M
NOI $234,108 @ 7.0% cap · market cap 44.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
1,482 visits/mo
0.3 miles
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Convenience retail and coin-operated laundry share the building, with a detached garage and on-site parking.
Where is this mixed-use property located?
The property is located at 414 West Ave Lockport, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Convenience store includes freestanding coolers, a walk‑in cooler, freezers, display cases, and storage areas; Attached laundromat with Speed Queen washers and dryers and coin‑operated payment; Detached two‑car garage
