Building Details

Building Size 13,252 SF

Year Built 1900

Stories 5

Units 1

Listing Agency: RE/MAX Precision

Listed By: J. Gerard Green · License #10491210016 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 25 Last Checked: Oct 26 at 6:21PM

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Investment Insights

Based on property information with market context.

This property, located in the heart of The Village of East Aurora, presents an opportunity to bring new life into a historic building. Situated on a half-acre lot, the property features over 386 feet of road frontage and parking for approximately 23 cars. The site includes two buildings: The Caboose and The 4 Story Grain Elevator. The primary building has been granted three variances by The Village of East Aurora to build 12 apartments, and these variances remain with the property for a new owner interested in pursuing this use. The property is located on the vibrant Elm St. corridor.

Key Highlights

• Half‑acre lot in the heart of The Village of East Aurora.
• Includes two buildings: The Caboose and The 4 Story Grain Elevator.
• Over 386 feet of road frontage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$76,513

Cap Rate

6.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,530,260 $1.5M

Cap Rate 7%

$1,093,043 $1.1M

Cap Rate 9%

$850,144 $850.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,252 SF

Gross rent

$214.7K $16.20/SF

− Vacancy

−$75.6K −$5.70/SF

EGI

$139.1K $10.50/SF

− OpEx

−$62.6K −$4.72/SF

NOI

$76.5K $5.77/SF

Area

Erie County, NY

Vacancy

35.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,530,260

Cap Rate 7%

$1,093,043

Cap Rate 9%

$850,144

Alternative Uses

Best Use

Retail

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,154 @ 7.0% cap · market cap 9.35%

Second Best

Apartment 5plus

$1.09M

$956.4K – $1.28M (±1% cap)

NOI $76,513 @ 7.0% cap · market cap 6.00%

Theoretical Best

Office A

$2.90M

$2.53M – $3.38M (±1% cap)

NOI $202,787 @ 7.0% cap · market cap 15.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Unique opportunity to revitalize a historic East Aurora property.

Where is this apartment building located?

The property is located at 47 Elm St St Ledyard, NY.

What is the asking price?

The asking price for this property is $1,275,000.

What are key features of this property?

This property features: Half‑acre lot in the heart of The Village of East Aurora.; Includes two buildings: The Caboose and The 4 Story Grain Elevator.; Over 386 feet of road frontage.