Automotive Shop with Vehicle
New
For Sale
$249,900
278 W Main St, Fredonia, NY 14063
Automotive facility with office space, service access, paved parking, and an included automobile lift.
Property Size1,344 SF
Lot Size0.26 Acres
Price / SF$185.94
Days on Market2
Property Features for 278 W Main St
General Information
Standard status
Active
Size
1,344 SF
Lot size
0.26 Acres
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,832
Amenities
finished office space
restroom
overhead door
circuit breakers
propane heat
Building Details
Building Size
1,344 SF
Buildings
1
Stories
1
Abandoned
No
Listing Agency:
Howard Hanna Holt - Fredonia
Listed By:
Anne LaPaglia · License #30LA0737178
(716) 673-5186
Source:
Elliman
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 7:22AM
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 Howard Hanna Holt - Fredonia
Investment Insights
Based on property information with market context.
This automotive shop occupies a 28' x 48' commercial building with finished office space, a restroom, an overhead door, circuit breakers, and propane heat. An automobile lift is included with the property; additional tools and the frame machine are negotiable. The building has a metal-sided exterior and a roof approximately 10 years old.
The improvements sit on a 68' x 167' corner lot with plenty of paved parking for customer and vehicle access. The property is currently operating as an automobile collision and paint shop, with building features suited to automotive service and related commercial uses.
The improvements sit on a 68' x 167' corner lot with plenty of paved parking for customer and vehicle access. The property is currently operating as an automobile collision and paint shop, with building features suited to automotive service and related commercial uses.
Key Highlights
- 28' x 48' commercial building on a 68' x 167' corner lot
- Automobile lift included with the property
- Finished office space and restroom
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
$16,494
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
6.60%
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%
$329,880
$329.9K
Cap Rate 7%
$235,629
$235.6K
Cap Rate 9%
$183,267
$183.3K
Market Conditions
NOI Build-Up for 1,344 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
$24.2K $18.00/SF
− Vacancy
−$629 −$0.47/SF
EGI
$23.6K $17.53/SF
− OpEx
−$7.1K −$5.26/SF
NOI
$16.5K $12.27/SF
Area
Chautauqua County, NY
Vacancy
2.60%
Lease Rate
$18.00 /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%
$329,880
Cap Rate 7%
$235,629
Cap Rate 9%
$183,267
Alternative Uses
Best Use
Retail
$235.6K
$206.2K – $274.9K
NOI $16,494 @ 7.0% cap · market cap 6.60%
Second Best
Industrial
$118.7K
$103.9K – $138.5K
NOI $8,312 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Nyce & Clean Auto Detailing — 276 W Main St Unit #4, Fredonia, NY 14063
- R D Fisk Precision Collision — 276 W Main St, Fredonia, NY 14063
- Slate's Fredonia Services — 124 W Main St, Fredonia, NY 14063
- Madenford Spring & Auto — 80 Water St, Fredonia, NY 14063
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with office space, service access, paved parking, and an included automobile lift.
Where is this auto shop located?
The property is located at 278 W Main St Fredonia, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 28' x 48' commercial building on a 68' x 167' corner lot; Automobile lift included with the property; Finished office space and restroom
