Main Street Commercial
For Sale
$649,900
305 Main Street, Aurora, NY 14052
Highly visible commercial property with flexible use options.
Property Size4,212 SF
Price / SF$154.30
Days on Market136
Property Features for 305 Main Street
General Information
Standard status
Active
Size
4,212 SF
Property subtype
CommercialSale
Listing Agency:
Century 21 North East
(716) 652-0232
Listed By:
Jerrold R Thompson II · License #10301222678
(716) 864-7863
Source:
Nicholcityrealty
Added: Apr 22
Changed: Sep 3
Last Checked: Sep 1 at 9:08PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This commercial property, situated in a highly visible Main Street location, presents a versatile opportunity for investment or business establishment. Previously utilized as a professional office, medical office, and residence, the property offers flexibility for various uses, including medical, dental, law office, accounting firm, spa, hair salon, retail, or residential purposes. The first floor features a reception and waiting area with 9 ft ceilings and a gas fireplace, along with an office, conference room, bathroom, kitchenette, and copy room. A staircase leads to the second floor, which includes multiple private offices, two full bathrooms, and a sauna. Additional storage space is available in the full walk-up attic and full basement, complemented by a two-car garage. Located in the heart of East Aurora, the property features a front porch. The location benefits from strong Main Street traffic, excellent visibility, and off-street parking. The property has a walk score of 73, indicating it is very walkable, and a bike score of 67, indicating it is bikeable.
Key Highlights
- Highly visible Main Street location with strong traffic and excellent visibility.
- Flexible zoning allows for commercial (office, retail, spa, salon) or residential use.
- Features a professional reception area, multiple private offices, conference room, and two full bathrooms.
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
$52,408
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
8.06%
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%
$1,048,160
$1.0M
Cap Rate 7%
$748,686
$748.7K
Cap Rate 9%
$582,311
$582.3K
Market Conditions
NOI Build-Up for 4,212 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
$88.5K $21.00/SF
− Vacancy
−$18.6K −$4.41/SF
EGI
$69.9K $16.59/SF
− OpEx
−$17.5K −$4.15/SF
NOI
$52.4K $12.44/SF
Area
Cayuga County, NY
Vacancy
21.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,048,160
Cap Rate 7%
$748,686
Cap Rate 9%
$582,311
Alternative Uses
Best Use
Healthcare Medical
$901.7K
$789.0K – $1.05M
NOI $63,117 @ 7.0% cap · market cap 9.71%
Second Best
Office B
$748.7K
$655.1K – $873.5K
NOI $52,408 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$933.5K
$816.8K – $1.09M
NOI $65,343 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14052, NY
17,679
Population
7,603
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
96%
High-School Grad
61.2 sq mi
ZIP Area
289
Density / Sq Mi
$103,474
Median Household Income
$57,093
Median Earnings
$992
Median Rent
$312,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- East Aurora Veterinary Hospital — 589 Main St, East Aurora, NY 14052
Frequently Asked Questions
What type of property is this?
Medical Office Space - Highly visible commercial property with flexible use options.
Where is this medical office space located?
The property is located at 305 Main Street Aurora, NY.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Highly visible Main Street location with strong traffic and excellent visibility.; Flexible zoning allows for commercial (office, retail, spa, salon) or residential use.; Features a professional reception area, multiple private offices, conference room, and two full bathrooms.
