Retail Property with Corporate
For Sale
Contact for pricing
25 Gardenville Pkwy, West Seneca, NY
Retail property with a corporate-guaranteed lease and expansion options.
Property Size15,059 SF
Lot Size0.67 Acres
Price / SF$158
Days on Market438
Property Features for 25 Gardenville Pkwy
General Information
Standard status
Active
Size
15,059 SF
Lot size
0.67 Acres
Property subtype
RETAIL
Listing Agency:
Donovan Real Estate Services
(716) 998-2943
Listed By:
Brian P Donovan · License #10491202934
Source:
Moodyscre
Added: May 29, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:09AM
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 Donovan Real Estate Services
Investment Insights
Based on property information with market context.
This retail property features a 10-year initial lease term, along with two 5-year options that include 10% increases. The lease is supported by a corporate guaranty. The building is situated on a corner lot and includes a pylon sign. The property has a size of 15,059 square feet and is located in West Seneca, NY.
Key Highlights
- Corporate guaranty on lease
- 10‑year initial term
- Two 5‑year options with 10% bumps
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
$146,684
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
6.13%
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%
$2,933,680
$2.9M
Cap Rate 7%
$2,095,486
$2.1M
Cap Rate 9%
$1,629,822
$1.6M
Market Conditions
NOI Build-Up for 15,059 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
$234.9K $15.60/SF
− Vacancy
−$25.4K −$1.68/SF
EGI
$209.5K $13.92/SF
− OpEx
−$62.9K −$4.17/SF
NOI
$146.7K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,933,680
Cap Rate 7%
$2,095,486
Cap Rate 9%
$1,629,822
Alternative Uses
Best Use
Retail
$2.10M
$1.83M – $2.44M
NOI $146,684 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,497 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property with a corporate-guaranteed lease and expansion options.
Where is this retail space located?
The property is located at 25 Gardenville Pkwy West Seneca, NY.
What is the asking price?
The asking price for this property is $2,394,370.
What are key features of this property?
This property features: Corporate guaranty on lease; 10‑year initial term; Two 5‑year options with 10% bumps
