Automotive Shop With Garage
New
For Sale
$250,000
297 TRANSIT ST, Lockport, NY 14094
Corner-site facility includes office, staff amenities, vehicle display area, and on-site parking.
Property Size1,408 SF
Price / SF$177.56
Days on Market7
Property Features for 297 TRANSIT ST
General Information
Standard status
Active
Size
1,408 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Service Bays
1
Taxes and HOA fees
Annual Taxes
$3,691
Amenities
office
employee break room
bathroom
Gas
Flat, Membrane, Rubber
30 Parking Spaces.
123X135
Building Details
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
REMAX North
(716) 633-1111
Listed By:
Mustafa Aljassar · License #10401305164
(716) 541-8350
Source:
Xome
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 9 at 3:22PM
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 REMAX North
Investment Insights
Based on property information with market context.
This 1,408-square-foot automotive facility, built in 1960, includes a customer-facing office, employee break room, bathroom, and a garage bay for mechanical work. Gas service is listed among the interior features, and the property has 30 parking spaces for vehicle storage or display. The site measures 123X135.
Located at 297 Transit St in Lockport, the property occupies a corner position with space to showcase multiple vehicles. Its existing combination of office, staff support areas, mechanical workspace, and parking provides a functional setup for an automotive operation.
Located at 297 Transit St in Lockport, the property occupies a corner position with space to showcase multiple vehicles. Its existing combination of office, staff support areas, mechanical workspace, and parking provides a functional setup for an automotive operation.
Key Highlights
- 1,408‑square‑foot automotive facility built in 1960
- Garage bay supports mechanical work
- Office, employee break room, and bathroom included
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
$15,488
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
6.20%
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%
$309,760
$309.8K
Cap Rate 7%
$221,257
$221.3K
Cap Rate 9%
$172,089
$172.1K
Market Conditions
NOI Build-Up for 1,408 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
$25.3K $18.00/SF
− Vacancy
−$3.2K −$2.29/SF
EGI
$22.1K $15.71/SF
− OpEx
−$6.6K −$4.71/SF
NOI
$15.5K $11.00/SF
Area
Niagara County, NY
Vacancy
12.70%
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%
$309,760
Cap Rate 7%
$221,257
Cap Rate 9%
$172,089
Alternative Uses
Best Use
Industrial
$985.2K
$862.1K – $1.15M
NOI $68,967 @ 7.0% cap · market cap 27.59%
Second Best
Retail
$221.3K
$193.6K – $258.1K
NOI $15,488 @ 7.0% cap · market cap 6.20%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,746 @ 7.0% cap · market cap 33.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
69k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Groceries 37%
Dining 15%
Hotels & Casinos 1%
Aldi
Groceries
25,744 visits/mo
0.5 miles
Kwik Fill
Shops & Services
12,215 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,288 visits/mo
AutoZone
Shops & Services
5,327 visits/mo
0.1 miles
7-Eleven
Shops & Services
4,515 visits/mo
0.5 miles
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Monro Auto Service And Tire Centers — 5710 S Transit Rd, Lockport, NY 14094
- Pep Boys — 5658 S Transit Rd, Lockport, NY 14094
- Express Lube — 5675 S Transit Rd, Lockport, NY 14094
- TRANSIT CAR WASH — 5673 S Transit Rd, Lockport, NY 14094
- LAKE COUNTRY TRUCK & EQUIPMENT INC — 36 Weld St, Lockport, NY 14094
Frequently Asked Questions
What type of property is this?
Auto shop - Corner-site facility includes office, staff amenities, vehicle display area, and on-site parking.
Where is this auto shop located?
The property is located at 297 TRANSIT ST Lockport, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,408‑square‑foot automotive facility built in 1960; Garage bay supports mechanical work; Office, employee break room, and bathroom included
