Auto Shop with Service
For Sale
$449,900
3233 Lake Shore Rd, Hamburg, NY 14219
Auto shop with three service bays, in need of renovation.
Property Size1,890 SF
Lot Size0.34 Acres
Days on Market262
Property Features for 3233 Lake Shore Rd
General Information
Standard status
Active
Size
1,890 SF
Lot size
0.34 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$5,326
Building Details
Building Size
1,890 SF
Year Built
1950
Stories
1
Listing Agency:
(716) 472-0776
Listed By:
Willard H Saperston
(716) 472-0776
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 10
Last Checked: Aug 22 at 10:27AM
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 Willard H Saperston
Investment Insights
Based on property information with market context.
This property is an auto shop constructed with block. It features three service bays, a waiting area, an office, and a bathroom. The interior requires renovation. According to the zoning map, the property is zoned M3 Industrial. The property is environmentally clean. It benefits from a high Annual Average Daily Traffic (AADT). The property can be paired with vacant lots across the street.
Key Highlights
- High Annual Average Daily Traffic (AADT)
- Zoning map shows property as M3 Industrial
- 3 Service Bays with waiting area, office, and bathroom**
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
$16,994
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
3.78%
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%
$339,880
$339.9K
Cap Rate 7%
$242,771
$242.8K
Cap Rate 9%
$188,822
$188.8K
Market Conditions
NOI Build-Up for 1,890 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
$27.2K $14.40/SF
− Vacancy
−$2.9K −$1.56/SF
EGI
$24.3K $12.84/SF
− OpEx
−$7.3K −$3.85/SF
NOI
$17.0K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /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%
$339,880
Cap Rate 7%
$242,771
Cap Rate 9%
$188,822
Alternative Uses
Best Use
Retail
$242.8K
$212.4K – $283.2K
NOI $16,994 @ 7.0% cap · market cap 3.78%
Second Best
Industrial
$118.5K
$103.7K – $138.3K
NOI $8,295 @ 7.0% cap · market cap 1.84%
Theoretical Best
Office A
$413.2K
$361.5K – $482.0K
NOI $28,922 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
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
- Paul's Frame Shop — 144 Lake Ave, Blasdell, NY 14219
- First Place Auto — 3233 Lake Shore Rd, Buffalo, NY 14219
- Southside Trailer Service, Inc. — 310 Lake Ave, Blasdell, NY 14219
- Lake Shore Truck — 310 Lake Ave, Buffalo, NY 14219
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop with three service bays, in need of renovation.
Where is this auto shop located?
The property is located at 3233 Lake Shore Rd Hamburg, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: High Annual Average Daily Traffic (AADT); Zoning map shows property as M3 Industrial; 3 Service Bays with waiting area, office, and bathroom**
