Office Units with Private
For Sale
Contact for pricing
2901-3 Bowen Road, Elma, NY 14059
Adjoining suites can form a multi-office layout with reception, conference, and support areas.
Property Size2,860 SF
Price / SF$1.05
Days on Market86
Property Features for 2901-3 Bowen Road
General Information
Standard status
Active
Size
2,860 SF
Additional Details
Office Units
2
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Steven Simme · License #10301217723
(716) 863-1675
Source:
Nicholcityrealty
Added: Jul 24
Changed: Oct 11
Last Checked: Oct 16 at 8:59AM
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.
Suites 1 and 2 can be connected through adjoining doors to create approximately 2,860 square feet of office space. The combined layout includes six individual offices, a workstation, conference rooms, two private bathrooms, two kitchenettes, and a reception area. Separate front and rear entrances support flexible circulation within the space.
The units feature updated mechanical systems and cosmetic improvements. Four office suites are currently offered for lease under separate ML numbers, while the property is also available for sale.
The units feature updated mechanical systems and cosmetic improvements. Four office suites are currently offered for lease under separate ML numbers, while the property is also available for sale.
Key Highlights
- Approximately 2860 sq ft when Suites 1 and 2 are combined
- Six individual offices plus a workstation and conference rooms
- Two private bathrooms and two kitchenettes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,838
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,760
$716.8K
Cap Rate 7%
$511,971
$512.0K
Cap Rate 9%
$398,200
$398.2K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$58.3K $20.40/SF
− Vacancy
−$10.6K −$3.69/SF
EGI
$47.8K $16.71/SF
− OpEx
−$11.9K −$4.18/SF
NOI
$35.8K $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%
$716,760
Cap Rate 7%
$511,971
Cap Rate 9%
$398,200
Alternative Uses
Best Use
Office B
$512.0K
$448.0K – $597.3K
NOI $35,838 @ 7.0% cap · market cap 1,194.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.2K
$547.1K – $729.4K
NOI $43,765 @ 7.0% cap · market cap 1,458.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Adjoining suites can form a multi-office layout with reception, conference, and support areas.
Where is this office units located?
The property is located at 2901-3 Bowen Road Elma, NY.
What are key features of this property?
This property features: Approximately 2860 sq ft when Suites 1 and 2 are combined; Six individual offices plus a workstation and conference rooms; Two private bathrooms and two kitchenettes
