Corporate Flex Campus with
For Sale
$3,700,000
4493 Walden Avenue, Lancaster, NY 14086
Multi-building flex campus includes a class A office building, light industrial space, storage pole barn, and an on-site restaurant.
Property Size37,616 SF
Price / SF$105.07
Days on Market52
Property Features for 4493 Walden Avenue
General Information
Standard status
Active
Size
37,616 SF
Class
A
Total Parking Spaces
100
Property subtype
Commercial
Zoning
LI, Light Industrial
Additional Details
Furnished
Yes
Office Units
26
Taxes and HOA fees
Annual Taxes
$61,177
Amenities
conference rooms
open work area
Wi-Fi connectivity
modern kitchen
landscaping
pond
on-site restaurant
Building Details
Building Size
37,616 SF
Year Built
1994
Buildings
3
Stories
1
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 913-7107
Listed By:
RonaldGunner Tronolone · License ##30TR0558114
(716) 913-7107
Source:
Homeprocny
Added: Jul 4
Changed: Aug 23
Last Checked: Aug 17 at 9:15AM
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 HUNT Commercial Real Estate Corp. of Buffalo New York
Investment Insights
Based on property information with market context.
This corporate flex campus features a class A office building totaling 24,416 SF, a secondary light industrial building totaling 10,800 SF, and a 2,960 SF pole barn for storage. The secondary building includes space that was converted to a 3,300 SF restaurant, and the overall complex is designed for a flexible mix of office and light industrial use.
The office configuration includes 2 large conference rooms, 26 offices, and a large open work area measuring 48 x 54, with power and Wi-Fi connectivity wired throughout. A fully equipped modern kitchen is situated adjacent to the open work area. The property also includes 100+ car parking.
Built in 1994 and upgraded since a 2009 sale, the campus includes major renovations and improvements documented across multiple years, including new metal roofs, landscaping and pond installation, driveway and parking lot work, and buildout of the cidery and tap room with new HVAC. A pole barn was constructed in 2023. The campus can be used as one tenant, or offered in sections for individual office or workspace rentals by the next owner.
The office configuration includes 2 large conference rooms, 26 offices, and a large open work area measuring 48 x 54, with power and Wi-Fi connectivity wired throughout. A fully equipped modern kitchen is situated adjacent to the open work area. The property also includes 100+ car parking.
Built in 1994 and upgraded since a 2009 sale, the campus includes major renovations and improvements documented across multiple years, including new metal roofs, landscaping and pond installation, driveway and parking lot work, and buildout of the cidery and tap room with new HVAC. A pole barn was constructed in 2023. The campus can be used as one tenant, or offered in sections for individual office or workspace rentals by the next owner.
Key Highlights
- 35,216 SF multi‑building flex campus built in 1994, including a class A office building plus light industrial, storage, and an on‑site restaurant.
- Main office building offers 24,416 SF with 2 large conference rooms, 26 offices, and a large open work area.
- 48 x 54 wired for power and Wi‑Fi connectivity, plus a fully equipped modern kitchen adjacent to the open work area.
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
$202,462
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
5.47%
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%
$4,049,240
$4.0M
Cap Rate 7%
$2,892,314
$2.9M
Cap Rate 9%
$2,249,578
$2.2M
Market Conditions
NOI Build-Up for 35,216 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
$333.8K $9.48/SF
− Vacancy
−$22.4K −$0.64/SF
EGI
$311.5K $8.84/SF
− OpEx
−$109.0K −$3.10/SF
NOI
$202.5K $5.75/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$4,049,240
Cap Rate 7%
$2,892,314
Cap Rate 9%
$2,249,578
Alternative Uses
Best Use
Office B
$6.30M
$5.52M – $7.35M
NOI $441,281 @ 7.0% cap · market cap 11.93%
Second Best
Flex RnD
$2.89M
$2.53M – $3.37M
NOI $202,462 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$7.70M
$6.74M – $8.98M
NOI $538,889 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26
Office units
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
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 - Multi-building flex campus includes a class A office building, light industrial space, storage pole barn, and an on-site restaurant.
Where is this flex space located?
The property is located at 4493 Walden Avenue Lancaster, NY.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 35,216 SF multi‑building flex campus built in 1994, including a class A office building plus light industrial, storage, and an on‑site restaurant.; Main office building offers 24,416 SF with 2 large conference rooms, 26 offices, and a large open work area.; 48 x 54 wired for power and Wi‑Fi connectivity, plus a fully equipped modern kitchen adjacent to the open work area.
