Updated Office Suite with
For Sale
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2901-2 Bowen Road, Elma, NY 14059
Well-maintained office unit with flexible room arrangement, private entrances, and dedicated support areas.
Property Size1,080 SF
Price / SF$1.39
Days on Market85
Property Features for 2901-2 Bowen Road
General Information
Standard status
Active
Size
1,080 SF
Amenities
individual offices
conference room
main area/reception room
private bathroom
kitchenette
private front and rear entrance
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Steven Simme · License #10301217723
(716) 863-1675
Source:
Nicholcityrealty
Added: Jul 25
Changed: Oct 11
Last Checked: Oct 16 at 8:19AM
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 Keller Williams Realty Lancaster
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Investment Insights
Based on property information with market context.
Suite 2 provides 1080 square feet of office space in a condition described as exceptional, with updated mechanical systems and interior finishes. The layout includes individual offices, a conference room, a central reception or common area, a private bathroom, and a kitchenette.
Separate front and rear entrances provide direct access to the unit. The property includes 4 office suites currently offered for lease under separate ML numbers, while this suite is also identified as available for sale. The property is located at 2901-2 Bowen Road in Elma, NY 14059.
Separate front and rear entrances provide direct access to the unit. The property includes 4 office suites currently offered for lease under separate ML numbers, while this suite is also identified as available for sale. The property is located at 2901-2 Bowen Road in Elma, NY 14059.
Key Highlights
- 1080 Sq Ft office suite
- Individual offices plus conference room and reception area
- Private bathroom and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,533
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,660
$270.7K
Cap Rate 7%
$193,329
$193.3K
Cap Rate 9%
$150,367
$150.4K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$22.0K $20.40/SF
− Vacancy
−$4.0K −$3.69/SF
EGI
$18.0K $16.71/SF
− OpEx
−$4.5K −$4.18/SF
NOI
$13.5K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,660
Cap Rate 7%
$193,329
Cap Rate 9%
$150,367
Alternative Uses
Best Use
Office B
$193.3K
$169.2K – $225.6K
NOI $13,533 @ 7.0% cap · market cap 902.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.1K
$206.6K – $275.5K
NOI $16,527 @ 7.0% cap · market cap 1,101.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
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 units - Well-maintained office unit with flexible room arrangement, private entrances, and dedicated support areas.
Where is this office units located?
The property is located at 2901-2 Bowen Road Elma, NY.
What are key features of this property?
This property features: 1080 Sq Ft office suite; Individual offices plus conference room and reception area; Private bathroom and kitchenette
