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

    1505-1517 Cleveland Dr Cheektowaga, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    One-story, 3,780 SF office building with parking near airport.

    Type:OFFICE
    Property size:
    3,780 SF
    Lot size:
    0.24 Acres
    Added:
    Jun 20, 2024
    Days on Market:
    682
    Last Refresh:
    Apr 5 at 11:18 pm

    Property Features for 1505-1517 Cleveland Dr

    General Information

    Standard status
    Active
    Size
    3,780 SF
    Lot size
    0.24 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 1505-1517 Cleveland Dr Contact us

    We can help!

    Listing Contact
    Amanda Hirsch

    Listing agent Amanda Hirsch

    Listing office Hunt Commercial - Buffalo

    Listing date Jun 20, 2024

    Source Moodyscre

    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 Hunt Commercial - Buffalo

    Overview

    Free-Standing Office Building Available

    This free-standing, one-story corner building offers 3,780 square feet of space and includes on-site paved parking for 16 cars. The property is located across Cayuga Road from the Buffalo-Niagara International Airport and approximately half a mile north of the Kensington Expressway (NY 33). It is also situated about a mile south of Main Street in Williamsville. The building was previously occupied by Computer SOS Inc. for 30 years. Recent improvements include plumbing updates, parking lot striping, and two rooftop HVAC units. A whole-building backup generator is also included. An exterior sign is available for business promotional messages.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7079
    Latitude
    42.9008

    Nearby Similar for Lease

    • Contact for pricing

      Class A Office Sublease

      Class A office space available for sublease in Cheektowaga.
      4455 Genesee St, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Class A Office Sublease

      Class A office space for sublease with showroom area.
      4455 Genesee St, Cheektowaga, NY 14225
      View Details
    • $12 SF/Yr

      Free-Standing Building Near Airport

      One-story, 3,780 SF building with parking near Buffalo Airport.
      1505-1517 Cleveland Drive, Cheektowaga, NY 14225
      View Details
    • $12 SF/Yr

      Retail Center Near Walden Galleria

      68,000 SF retail center near I-90 and Walden Galleria.
      2130 Walden Avenue, Cheektowaga, NY, 14225
      View Details
    • $12 SF/Yr

      Modern Office Spaces in Cheektowaga

      Premier office spaces with modern facilities and convenient location.
      301, 303, 305 Cayuga Road, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Former Convenience Store and Deli

      1,500 SF space ready for lease on Genesee Street.
      3035 Genesee Street, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Transit Road Retail/Office Space

      High-traffic retail/office space available on Transit Road.
      6348 Transit Road, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Retail Space on Genesee Street

      900+/- SF retail space with high visibility and accessibility.
      3035 Genesee Street, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Former Salon Space Available

      Former salon space available for lease with customization options.
      3035 Genesee Street, Cheektowaga, NY 14225
      View Details
    • $10 SF/Yr

      Two-Story Office Building Available

      Two-story, 1902 SF office building with parking.
      2375 Union Road, Cheektowaga, NY 14227
      View Details
    • Contact for pricing

      Transit Road Retail Sublease Opportunity

      Retail space available for sublease on Transit Road.
      6370 Transit Road , Cheektowaga, NY 14043
      View Details
    • Contact for pricing

      Community Shopping Center Retail Space

      Retail spaces for lease in Cheektowaga's Thruway Plaza.
      2195 Harlem Rd, Cheektowaga, NY 14225
      View Details

    FAQs

    What type of property is this?
    Office building - One-story, 3,780 SF office building with parking near airport.
    Where is this office building located?
    The property is located at 1505-1517 Cleveland Dr Cheektowaga, NY.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Freestanding, one‑story corner building with 3,780 sf.; On‑site paved parking for 16 cars.; Excellent location near Buffalo‑Niagara International Airport and Kensington Expressway (NY 33).
    (716) 854-5943 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Amanda Hirsch
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    1505-1517 Cleveland Dr, Cheektowaga, NY

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!