Office-Warehouse Flex
For Sale
$675,000
Pending
1783 Kenmore Ave, Tonawanda, NY 14150
Mixed-use office, warehouse, and workshop space with drive-in access and outdoor storage for service, storage, or light distribution.
Property Size6,542 SF
Lot Size0.36 Acres
Days on Market97
Property Features for 1783 Kenmore Ave
General Information
Standard status
Pending
Size
6,542 SF
Lot size
0.36 Acres
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$31,352
Listing Agency:
WNY Metro Roberts Realty
(716) 559-9972
Listed By:
Ryan Burke · License #10301222154
(716) 572-2848
Source:
Exprealty
Added: Jun 9
Changed: Aug 20
Last Checked: Sep 12 at 3:23PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This for-sale flex building combines office, warehouse, and workshop space in a single facility. The office portion is approximately 1,500 SF and includes a reception area, two private offices, a conference room, and two restrooms. The warehouse area features approximately 16-foot ceilings, professionally refinished concrete floors, heat throughout, and three 12-foot drive-in overhead doors. Three private workshop spaces add further flexibility for operational needs. The building also includes outdoor storage space located behind the structure.
The property sits on a 15,768 SF lot at 1783 Kenmore Ave in Tonawanda, NY, with ample on-site parking and a newly installed double-wide concrete driveway. Recent capital improvements include a new furnace, a new hot water tank, and a new flat roof over the office portion of the building scheduled to be installed prior to closing.
For contractors, service businesses, and operators who need both workspace and warehousing in one location, the combination of drive-in doors, heated warehouse space, and dedicated workshop rooms can support a variety of day-to-day workflows. Owner-occupants and buyers looking for a functional mixed-use setup with outdoor storage may find the existing layout practical for managing staff areas and operational space together.
The property sits on a 15,768 SF lot at 1783 Kenmore Ave in Tonawanda, NY, with ample on-site parking and a newly installed double-wide concrete driveway. Recent capital improvements include a new furnace, a new hot water tank, and a new flat roof over the office portion of the building scheduled to be installed prior to closing.
For contractors, service businesses, and operators who need both workspace and warehousing in one location, the combination of drive-in doors, heated warehouse space, and dedicated workshop rooms can support a variety of day-to-day workflows. Owner-occupants and buyers looking for a functional mixed-use setup with outdoor storage may find the existing layout practical for managing staff areas and operational space together.
Key Highlights
- 6,542 SF commercial building on a 15,768 SF lot in Kenmore, NY with office, warehouse, and workshop space.
- Office area is about 1,500 SF with reception, two private offices, a conference room, and two restrooms.
- Warehouse includes ~16‑foot ceilings, professionally refinished concrete floors, and heat throughout the warehouse area.
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
$37,611
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
5.57%
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%
$752,220
$752.2K
Cap Rate 7%
$537,300
$537.3K
Cap Rate 9%
$417,900
$417.9K
Market Conditions
NOI Build-Up for 6,542 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
$62.0K $9.48/SF
− Vacancy
−$4.2K −$0.64/SF
EGI
$57.9K $8.84/SF
− OpEx
−$20.3K −$3.10/SF
NOI
$37.6K $5.75/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$752,220
Cap Rate 7%
$537,300
Cap Rate 9%
$417,900
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.37M
NOI $81,976 @ 7.0% cap · market cap 12.14%
Second Best
Flex RnD
$537.3K
$470.1K – $626.9K
NOI $37,611 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,108 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use office, warehouse, and workshop space with drive-in access and outdoor storage for service, storage, or light distribution.
Where is this flex space located?
The property is located at 1783 Kenmore Ave Tonawanda, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 6,542 SF commercial building on a 15,768 SF lot in Kenmore, NY with office, warehouse, and workshop space.; Office area is about 1,500 SF with reception, two private offices, a conference room, and two restrooms.; Warehouse includes ~16‑foot ceilings, professionally refinished concrete floors, and heat throughout the warehouse area.
