Signalized Corner Auto
For Sale
Contact for pricing
502-508 Ellicott St, Batavia, NY
Car repair shop with warehouse and high visibility.
Property Size2,088 SF
Lot Size0.28 Acres
Price / SF$203.50
Days on Market911
Property Features for 502-508 Ellicott St
General Information
Standard status
Active
Size
2,088 SF
Lot size
0.28 Acres
Property subtype
RETAIL
Listing Agency:
Hunt Commercial - Buffalo
(716) 854-5943
Listed By:
Nicholas Corto · License #10401306847
(716) 864-1929
Source:
Moodyscre
Added: Mar 14, 2024
Changed: Aug 13
Last Checked: Sep 9 at 11:34AM
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 - Buffalo
Investment Insights
Based on property information with market context.
This property features a car repair shop and warehouse suitable for additional storage. It includes lifts and is considered a suitable investment property. The current tenant is operating and wishes to stay. The property has high visibility with 4 bays, a reception area, and ample parking spaces, making it suitable for used cars or other retail uses. The site is a prime signalized corner location with dimensions of 145x260, and includes 3 parcels: 5 Clifton and 5-7-9 Clifton. The property size is 2088 square feet.
Key Highlights
- Prime signalized corner location with high visibility.
- Includes car repair bays and warehouse space for storage.
- Four bay garage with reception area and ample parking.
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
$21,003
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
4.94%
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%
$420,060
$420.1K
Cap Rate 7%
$300,043
$300.0K
Cap Rate 9%
$233,367
$233.4K
Market Conditions
NOI Build-Up for 2,088 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
$31.3K $15.00/SF
− Vacancy
−$1.3K −$0.63/SF
EGI
$30.0K $14.37/SF
− OpEx
−$9.0K −$4.31/SF
NOI
$21.0K $10.06/SF
Area
Genesee County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$420,060
Cap Rate 7%
$300,043
Cap Rate 9%
$233,367
Alternative Uses
Best Use
Industrial
$1.60M
$1.40M – $1.86M
NOI $111,725 @ 7.0% cap · market cap 26.29%
Second Best
Retail
$300.0K
$262.5K – $350.1K
NOI $21,003 @ 7.0% cap · market cap 4.94%
Theoretical Best
Warehouse
$1.94M
$1.70M – $2.26M
NOI $135,666 @ 7.0% cap · market cap 31.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Genesee Auto Body — 659 Ellicott St, Batavia, NY 14020
- Jays Automotive and Detailing — 667 Ellicott St #4a, Batavia, NY 14020
- AM Performance — 103 Lehigh Ave, Batavia, NY 14020
- Mogavero’s Automotive — 149 Hutchins St, Batavia, NY 14020
- Zirbel's Automotive — 149 hutchins st, batavia, ny 14020
Frequently Asked Questions
What type of property is this?
Auto shop - Car repair shop with warehouse and high visibility.
Where is this auto shop located?
The property is located at 502-508 Ellicott St Batavia, NY.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Prime signalized corner location with high visibility.; Includes car repair bays and warehouse space for storage.; Four bay garage with reception area and ample parking.
