Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Elma Plaza Retail/Office Space Title is generated by Realmo AI

    2317 Bowen Rd, Elma, NY 14059

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    1560 sq ft retail or office space in Elma.

    Type:Retail
    Property size:
    1,560 SF
    Added:
    Mar 15, 2022
    Days on Market:
    1543
    Last Refresh:
    May 12 at 11:17 pm

    Property Features for 2317 Bowen Rd

    General Information

    Standard status
    Active
    Size
    1,560 SF
    Property subtype
    Retail

    Spaces For Lease

    at 2317 Bowen Rd Contact us

    $14/Mo

    Size
    1,250 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Gary DeCarlo CIPS

    Listing agent Gary DeCarlo CIPS License #NY 10491209946

    Listing office CRE Global LLC

    Listing date Mar 15, 2022

    Source Crexi

    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 CRE Global LLC

    HighLights

    • 1560 Sq. Ft. space suitable for various business needs.
    • Located in Elma Plaza, offering potential visibility and accessibility.
    • Ideal for retail location, catering to businesses seeking customer traffic.
    • Suitable for office use, providing a professional workspace.
    • Versatile space adaptable to different business layouts.
    • Strategic location for attracting customers or clients.

    Overview

    Located in Elma Plaza, this 1560 square foot space is suitable for either a retail location or an office.
    Location Intelligence

    Current Use by Public Records

    Elma Village Shopping ... Business Service Center FedEx Drop Box Postal Service Jennifer Cole Pharmacy Deanna Macie Pharmacy Cy's Elma Pharmacy Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elma
    County
    Erie
    State
    New York
    Longitude
    -78.6367814
    Latitude
    42.8340907

    Nearby Similar for Lease

    • $2,500/Mo
      2,860 SF

      Elma Office Suites For Lease

      Exceptional office suites available for lease in Elma, New York.
      2901-3 Bowen Road, Elma, NY 14059
      View Details
    • $1,100/Mo
      1,200 SF

      Elma Office Space For Rent

      Office suite for lease featuring updated mechanics and cosmetics.
      2901-4 Bowen Road, Elma, NY 14059
      View Details
    • $1,550/Mo
      1,780 SF

      Elma, NY Commercial Office

      Office unit with multiple rooms, private entrances, and updated features.
      2901-1 Bowen Road, Elma, NY 14059
      View Details
    • $1,200/Mo
      1,080 SF

      Elma, NY Commercial Space

      Office suite for lease in Elma, NY with updated features.
      2901-2 Bowen Road, Elma, NY 14059
      View Details
    • $3,500/Mo

      High-Visibility Corner Retail/Automotive Space

      Prime location with high ceilings and easy highway access.
      5710 Seneca St, Elma, NY 14059
      View Details
    • $3,500/Mo

      Updated Office Space For Rent

      Newly updated office space in Elma, turn-key ready.
      5763 Seneca Street, Elma, NY 14059
      View Details
    • $2,000/Mo

      New Flex Space Available

      Newly constructed flex space with overhead doors and ample parking.
      11500 Clinton St, Elma, NY 14059
      View Details
    • Contact for pricing
      1,280 SF

      Professional Office Space Available

      Turnkey office spaces available for rent with build-to-suit options.
      2701 Transit Rd, Elma, NY
      View Details

    FAQs

    What type of property is this?
    Retail space - 1560 sq ft retail or office space in Elma.
    Where is this retail space located?
    The property is located at 2317 Bowen Rd Elma, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 1560 Sq. Ft. space suitable for various business needs.; Located in Elma Plaza, offering potential visibility and accessibility.; Ideal for retail location, catering to businesses seeking customer traffic.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gary DeCarlo CIPS
    Real Estate License ID: NY 10491209946
    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
    2317 Bowen Rd, Elma Center, NY 14059
    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!