Renovated Flex Property with
For Sale
$1,499,900
3691 Southwestern Boulevard, Orchard Park, NY 14127
Integrated warehouse and office configuration with loading access, private work areas, and updated building systems.
Property Size3,960 SF
Price / SF$378.76
Days on Market53
Property Features for 3691 Southwestern Boulevard
General Information
Standard status
Active
Size
3,960 SF
Property subtype
CommercialLease
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
2,003 SF
Office Build-Out
1,957 SF
Drive-In Doors
1
Amenities
break room
conference room
Building Details
Year Renovated
2023
Buildings
1
Building Size
3,960 SF
Listing Agency:
Towne Housing Real Estate
(716) 308-3145
Listed By:
Kevin McMullen · License #10401304532
(716) 308-3145
Source:
Nicholcityrealty
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 30 at 5:43PM
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 Towne Housing Real Estate
Investment Insights
Based on property information with market context.
Renovated in 2023, this flex property combines warehouse and office functions within a 3,960-square-foot building at 3691 Southwestern Boulevard in Orchard Park, NY. The 2,003-square-foot warehouse includes 14-foot ceilings, heating, a 10’ x 12’ grade-level overhead door, and a private 10’ x 11’ office. The 1,957-square-foot office area provides two private offices, a conference room, and an open area suitable for bullpen or call center layouts, along with a break room, men’s and women’s restrooms, and two large storage closets.
Recent improvements include a new roof, siding, and updated mechanical systems. A large on-site parking lot supports the property, which is located minutes from the New York State Thruway. The building is available for sale or lease and is configured for users requiring both office space and warehouse capability.
Recent improvements include a new roof, siding, and updated mechanical systems. A large on-site parking lot supports the property, which is located minutes from the New York State Thruway. The building is available for sale or lease and is configured for users requiring both office space and warehouse capability.
Key Highlights
- 3,960‑square‑foot flex building renovated in 2023
- 2,003‑square‑foot heated warehouse with 14‑foot ceilings
- 10’ x 12’ grade‑level overhead door and private 10’ x 11’ warehouse office
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
$49,622
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
3.31%
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%
$992,440
$992.4K
Cap Rate 7%
$708,886
$708.9K
Cap Rate 9%
$551,356
$551.4K
Market Conditions
NOI Build-Up for 3,960 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
$80.8K $20.40/SF
− Vacancy
−$14.6K −$3.69/SF
EGI
$66.2K $16.71/SF
− OpEx
−$16.5K −$4.18/SF
NOI
$49.6K $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 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%
$992,440
Cap Rate 7%
$708,886
Cap Rate 9%
$551,356
Alternative Uses
Best Use
Office B
$708.9K
$620.3K – $827.0K
NOI $49,622 @ 7.0% cap · market cap 3.31%
Second Best
Flex RnD
$325.2K
$284.6K – $379.5K
NOI $22,767 @ 7.0% cap · market cap 1.52%
Theoretical Best
Office A
$865.7K
$757.5K – $1.01M
NOI $60,598 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Integrated warehouse and office configuration with loading access, private work areas, and updated building systems.
Where is this flex space located?
The property is located at 3691 Southwestern Boulevard Orchard Park, NY.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: 3,960‑square‑foot flex building renovated in 2023; 2,003‑square‑foot heated warehouse with 14‑foot ceilings; 10’ x 12’ grade‑level overhead door and private 10’ x 11’ warehouse office
