Office Units with Retail
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2351 Bowen Road, Elma, NY 14059
Two commercial suites support office or retail use, including a compact option for a single-office setting.
Property Size38,070 SF
Price / SF$0.00
Days on Market50
Property Features for 2351 Bowen Road
General Information
Standard status
Active
Size
38,070 SF
Listing Agency:
CRE Global LLC
Listed By:
Gary J DeCarlo
(716) 892-5100
Source:
Nicholcityrealty
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 26 at 3:47PM
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
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Investment Insights
Based on property information with market context.
The property includes two separate commercial spaces configured for office or retail use. The larger space measures approx. 1500 sq.ft., while the second measures approx. 500 sq ft and is suited to a single-office user. Located at 2351 Bowen Road in Elma, NY 14059, the property offers a choice between a larger commercial footprint and a more compact office setting.
Key Highlights
- Two office or retail spaces within the property
- Approx. 1500 sq.ft. first space
- Approx. 500 sq ft second space suited to single‑office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$342,301
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,846,020
$6.8M
Cap Rate 7%
$4,890,014
$4.9M
Cap Rate 9%
$3,803,344
$3.8M
Market Conditions
NOI Build-Up for 38,070 SF
Gross rent
$548.2K $14.40/SF
− Vacancy
−$59.2K −$1.56/SF
EGI
$489.0K $12.84/SF
− OpEx
−$146.7K −$3.85/SF
NOI
$342.3K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,846,020
Cap Rate 7%
$4,890,014
Cap Rate 9%
$3,803,344
Alternative Uses
Best Use
Office B
$6.81M
$5.96M – $7.95M
NOI $477,044 @ 7.0% cap · market cap 3,407,457.14%
Second Best
Retail
$4.89M
$4.28M – $5.71M
NOI $342,301 @ 7.0% cap · market cap 2,445,007.14%
Theoretical Best
Office A
$8.32M
$7.28M – $9.71M
NOI $582,562 @ 7.0% cap · market cap 4,161,157.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
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Business Placement
Demographics for 14059, NY
9,280
Population
3,803
Households
2.4
Avg Household Size
51
Median Age
42%
College-Educated
97%
High-School Grad
26.9 sq mi
ZIP Area
345
Density / Sq Mi
$101,698
Median Household Income
$60,569
Median Earnings
$1,316
Median Rent
$323,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Two commercial suites support office or retail use, including a compact option for a single-office setting.
Where is this office unit located?
The property is located at 2351 Bowen Road Elma, NY.
What are key features of this property?
This property features: Two office or retail spaces within the property; Approx. 1500 sq.ft. first space; Approx. 500 sq ft second space suited to single‑office use
