Renovated Two-Storefront Retail
For Sale
$865,000
33 Elm Street, East Aurora, NY 14052
CommercialSale, East Aurora, NY
Property Size7,653 SF
Lot Size0.23 Acres
Price / SF$113.03
Days on Market94
Property Features for 33 Elm Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
NC
Zoning description
Commercial
Rooms
Basement
Parking
6
Parking features
Paved or Surfaced
Accessibility
Accessible Approach with Ramp
Subdivision
Village/East Aurora
Lot features
Rectangular, Rectangular Lot
Elementary school district
East Aurora
Middle school district
East Aurora
High school district
East Aurora
Standard status
Active
APN
142401-176-050-0001-004-000
Size
7,653 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
13159
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Separate Meters, Central Air
Water source
Public
Amenities
outdoor patio area
second floor office and storage space
exterior walk in cooler and freezer storage
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Concrete
Building materials
AtticCrawlHatchwaysInsulated, Masonry
Roof type
Metal
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Added: Jun 11
Changed: Sep 11
Last Checked: Sep 12 at 11:06PM
MLS# B1689909
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 33 Elm Street in East Aurora, this 7,653-square-foot storefront property contains two occupied retail suites within a 1920-built masonry building. The approximately 2,800-square-foot left unit includes a front counter, workstation, dining area, full kitchen, second-floor office and storage, plus an outdoor patio. The approximately 1,800-square-foot right unit offers a quick-service counter, dining space, commercial kitchen with an oversized hood, and exterior walk-in cooler and freezer storage.
Recent capital work includes exterior painting and updates to plumbing, electrical, and mechanical systems. The property has approximately six dedicated paved parking spaces, public water, natural-gas forced-air heat, central air with separate meters, a metal roof, concrete flooring, and ramped accessible entry. Both suites are occupied under long-term leases, and the property is zoned NC.
Recent capital work includes exterior painting and updates to plumbing, electrical, and mechanical systems. The property has approximately six dedicated paved parking spaces, public water, natural-gas forced-air heat, central air with separate meters, a metal roof, concrete flooring, and ramped accessible entry. Both suites are occupied under long-term leases, and the property is zoned NC.
Key Highlights
- 7,653‑square‑foot storefront property on a 0.2298‑acre lot
- Two occupied retail suites measuring approximately 2,800 and 1,800 square feet
- Recent updates to exterior paint, plumbing, electrical, and mechanical systems
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
$68,811
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
7.96%
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%
$1,376,220
$1.4M
Cap Rate 7%
$983,014
$983.0K
Cap Rate 9%
$764,567
$764.6K
Market Conditions
NOI Build-Up for 7,653 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
$110.2K $14.40/SF
− Vacancy
−$11.9K −$1.56/SF
EGI
$98.3K $12.84/SF
− OpEx
−$29.5K −$3.85/SF
NOI
$68.8K $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%
$1,376,220
Cap Rate 7%
$983,014
Cap Rate 9%
$764,567
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,157 @ 7.0% cap · market cap 10.65%
Second Best
Retail
$983.0K
$860.1K – $1.15M
NOI $68,811 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,109 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
712
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
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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Frequently Asked Questions
What type of property is this?
Storefront property - Two occupied retail suites combine restaurant improvements, customer parking, and updated building systems in East Aurora’s village business district.
Where is this storefront property located?
The property is located at 33 Elm Street East Aurora, NY.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: 7,653‑square‑foot storefront property on a 0.2298‑acre lot; Two occupied retail suites measuring approximately 2,800 and 1,800 square feet; Recent updates to exterior paint, plumbing, electrical, and mechanical systems
