Flex Building with Office and
New
For Sale
$1,300,000
207 Lake St, Hamburg, NY 14075
Flexible commercial property combines extensive office, warehouse, and second-floor living areas in one building.
Property Size9,991 SF
Price / SF$130
Days on Market3
Property Features for 207 Lake St
General Information
Standard status
Active
Size
9,991 SF
Total Parking Spaces
30
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
2,500 SF
Office Build-Out
6,000 SF
Taxes and HOA fees
Annual Taxes
$25,241
Building Details
Building Size
9,991 SF
Year Built
1952
Buildings
1
Stories
2
Listing Agency:
(716) 481-4808
Listed By:
Mary Zulawski
(716) 481-4808
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 3:40AM
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 Mary Zulawski
Investment Insights
Based on property information with market context.
This flex property at 207 Lake St in Hamburg, NY, contains approximately 10,000 square feet arranged across office, warehouse, and residential-style living areas. The building includes approximately 6,000 square feet of office space, 2,500 square feet of warehouse space, and 1,500 square feet of living space on the second floor. The configuration supports a business operation with living quarters in the same location, and the living area may be rented separately.
A large blacktop parking surface accommodates 30 vehicles. The main building roof is approximately 6–7 years old, while the flat roof is approximately 10 years old. The property was built in 1952, and the building and land are offered together.
A large blacktop parking surface accommodates 30 vehicles. The main building roof is approximately 6–7 years old, while the flat roof is approximately 10 years old. The property was built in 1952, and the building and land are offered together.
Key Highlights
- Approximately 10,000 square feet of commercial building area
- Approximately 6,000 square feet of office space
- Approximately 2,500 square feet of warehouse space
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
$57,491
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
4.42%
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%
$1,149,820
$1.1M
Cap Rate 7%
$821,300
$821.3K
Cap Rate 9%
$638,789
$638.8K
Market Conditions
NOI Build-Up for 10,000 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
$94.8K $9.48/SF
− Vacancy
−$6.4K −$0.64/SF
EGI
$88.4K $8.84/SF
− OpEx
−$31.0K −$3.10/SF
NOI
$57.5K $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%
$1,149,820
Cap Rate 7%
$821,300
Cap Rate 9%
$638,789
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,307 @ 7.0% cap · market cap 9.64%
Second Best
Flex RnD
$821.3K
$718.6K – $958.2K
NOI $57,491 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,024 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
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?
Flex space - Flexible commercial property combines extensive office, warehouse, and second-floor living areas in one building.
Where is this flex space located?
The property is located at 207 Lake St Hamburg, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 10,000 square feet of commercial building area; Approximately 6,000 square feet of office space; Approximately 2,500 square feet of warehouse space
