Building Details

Year Built 1960

Listing Agency: Century 21 Turner Brokers t**@c21turnerbrokers.com Show Phone

Listed By: Thomas Turner · License #10311200036 Show Phone

Source: Xome

Added: Dec 17, 2025 Changed: Jul 22 Last Checked: Aug 31 at 2:16PM

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Investment Insights

Based on property information with market context.

This turnkey automotive dealership property includes a bright showroom with multiple private sales offices and a waiting room. The service center features multiple bays with high-clearance overhead doors and commercial-grade lifts, along with a dedicated parts department.

A back building has been used as a drive-in detail bay for prepping multiple vehicles at once. The offering also includes the transfer of a New York State motor vehicle inspector certification and GM specialty tools, including a front end alignment machine, inspection machine, battery tester, wheel balancing machines, tire machines, and more.

Property improvements noted include a metal roof installed in 2010 and a new boiler system in 2024. The property provides a large, paved display area and significant road frontage, with quick access described as minutes off I-86.

Key Highlights

• Turnkey automotive dealership with showroom, multiple private sales offices, and a waiting room
• Multi‑bay service center with high‑clearance overhead doors and commercial‑grade lifts
• Parts department with secure storage for inventory

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

$76,150

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

8.02%

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%

$1,523,000 $1.5M

Cap Rate 7%

$1,087,857 $1.1M

Cap Rate 9%

$846,111 $846.1K

Market Conditions

NOI Build-Up for 8,394 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

$120.9K $14.40/SF

− Vacancy

−$12.1K −$1.44/SF

EGI

$108.8K $12.96/SF

− OpEx

−$32.6K −$3.89/SF

NOI

$76.2K $9.07/SF

Area

Cattaraugus County, NY

Vacancy

10.00%

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%

$1,523,000

Cap Rate 7%

$1,087,857

Cap Rate 9%

$846,111

Alternative Uses

Best Use

Retail

$1.09M

$951.9K – $1.27M (±1% cap)

NOI $76,150 @ 7.0% cap · market cap 8.02%

Second Best

Industrial

$741.6K

$648.9K – $865.3K (±1% cap)

NOI $51,915 @ 7.0% cap · market cap 5.46%

Theoretical Best

Healthcare Medical

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,129 @ 7.0% cap · market cap 12.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

First Baptist Church Church Brady & Swenson, P.C. Law Firm Dior Productions Nightclub Brady & Swenson, P.C Law Firm

Suggested Use

Top Pick Auto Repair Shop Law Firm HVAC Service Building Supply Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

260

Businesses Nearby

15k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 54% Shops & Services 29% Home Improvements & Furnishings 9% Dining 9%

Save-A-Lot Groceries

7,910 visits/mo 0.3 miles

Family Dollar Shops & Services

2,373 visits/mo 0.2 miles

Five Star Bank Shops & Services

1,891 visits/mo 0.2 miles

Ferguson Home Improvements & Furnishings

1,271 visits/mo 0.2 miles

The Great Wall Dining

1,265 visits/mo 0.2 miles

Demographics for 14772, NY

4,141

Population

1,936

Households

2.1

Avg Household Size

41

Median Age

24%

College-Educated

87%

High-School Grad

76.6 sq mi

ZIP Area

54

Density / Sq Mi

$78,393

Median Household Income

$43,156

Median Earnings

$682

Median Rent

$112,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - Turnkey dealership includes showroom offices, multi-bay service center, parts department, and a drive-in detail bay.

Where is this auto shop located?

The property is located at 41 MAIN ST Salamanca, NY.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Turnkey automotive dealership with showroom, multiple private sales offices, and a waiting room; Multi‑bay service center with high‑clearance overhead doors and commercial‑grade lifts; Parts department with secure storage for inventory