Auto Shop
New
For Sale
$399,900
3697 Delaware Ave, Tonawanda, NY 14217
Built in 1950 with documented bike, walking, driving, and transit access characteristics.
Property Size1,785 SF
Days on Market4
Property Features for 3697 Delaware Ave
General Information
Standard status
Active
Size
1,785 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,965
Building Details
Building Size
1,785 SF
Year Built
1950
Stories
1
Listing Agency:
Towne Housing Real Estate
(716) 308-3145
Listed By:
Kevin McMullen
(716) 308-3145
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 4:54AM
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.
This auto shop property at 3697 Delaware Ave in Tonawanda, NY was built in 1950. The available property record identifies the asset as an auto shop and provides multimodal access ratings for the surrounding area.
BikeScore is 53, classified as Bikeable. WalkScore is 43, classified as Car-Dependent, while TransitScore is 30, classified as Some Transit.
BikeScore is 53, classified as Bikeable. WalkScore is 43, classified as Car-Dependent, while TransitScore is 30, classified as Some Transit.
Key Highlights
- Auto shop property at 3697 Delaware Ave, Tonawanda, NY 14217
- Year built: 1950
- BikeScore: 53, Bikeable
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
$16,050
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
4.01%
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%
$321,000
$321.0K
Cap Rate 7%
$229,286
$229.3K
Cap Rate 9%
$178,333
$178.3K
Market Conditions
NOI Build-Up for 1,785 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
$25.7K $14.40/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$22.9K $12.84/SF
− OpEx
−$6.9K −$3.85/SF
NOI
$16.0K $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%
$321,000
Cap Rate 7%
$229,286
Cap Rate 9%
$178,333
Alternative Uses
Best Use
Retail
$229.3K
$200.6K – $267.5K
NOI $16,050 @ 7.0% cap · market cap 4.01%
Second Best
Industrial
$111.9K
$97.9K – $130.6K
NOI $7,834 @ 7.0% cap · market cap 1.96%
Theoretical Best
Office A
$390.2K
$341.4K – $455.3K
NOI $27,315 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Arby's
Dining
10,055 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,482 visits/mo
0.5 miles
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Built in 1950 with documented bike, walking, driving, and transit access characteristics.
Where is this auto shop located?
The property is located at 3697 Delaware Ave Tonawanda, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Auto shop property at 3697 Delaware Ave, Tonawanda, NY 14217; Year built: 1950; BikeScore: 53, Bikeable
