Auto Shop Complex with Paint
For Sale
$1,299,000
5621 Lockport Road, Niagara Falls, NY 14305
Three buildings accommodate collision repair, mechanical service, storage, detailing, and light industrial operations.
Property Size9,670 SF
Lot Size2.60 Acres
Price / SF$134.33
Days on Market15
Property Features for 5621 Lockport Road
General Information
Standard status
Active
Size
9,670 SF
Lot size
2.60 Acres
Property subtype
CommercialLease
Site & Location
Traffic Count
20,000 vehicles/day
Road Access
Yes
Building Details
Buildings
3
Abandoned
No
Listing Agency:
Century 21 North East
(716) 545-9743
Listed By:
David M Pascucci · License #10301223803
(716) 545-9743
Source:
Nicholcityrealty
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 30 at 1:06AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This automotive property at 5621 Lockport Road includes three commercial buildings on a 2.6-acre corner site spanning three tax parcels. The primary repair facility measures approximately 5,000 square feet and includes multiple lifts, a professional paint booth, and related equipment. A second building of roughly 2,000 square feet provides three bays and three lifts. The approximately 900-square-foot third structure offers additional space for storage, detailing, or light industrial work.
The property sits at a prominent intersection with nearly 20,000 vehicles passing daily, providing substantial exposure and convenient access. A new Amazon distribution center is under construction nearby, adding a notable development factor to the surrounding area. The buildings and site configuration support automotive repair and related commercial operations.
The property sits at a prominent intersection with nearly 20,000 vehicles passing daily, providing substantial exposure and convenient access. A new Amazon distribution center is under construction nearby, adding a notable development factor to the surrounding area. The buildings and site configuration support automotive repair and related commercial operations.
Key Highlights
- 2.6‑acre corner property distributed across three separate tax parcels
- Three commercial buildings with approximately 5,000, 2,000, and 900 square feet
- Main repair facility includes multiple lifts, a professional paint booth, and equipment
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
$106,368
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
8.19%
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%
$2,127,360
$2.1M
Cap Rate 7%
$1,519,543
$1.5M
Cap Rate 9%
$1,181,867
$1.2M
Market Conditions
NOI Build-Up for 9,670 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
$174.1K $18.00/SF
− Vacancy
−$22.1K −$2.29/SF
EGI
$152.0K $15.71/SF
− OpEx
−$45.6K −$4.71/SF
NOI
$106.4K $11.00/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$18.00 /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%
$2,127,360
Cap Rate 7%
$1,519,543
Cap Rate 9%
$1,181,867
Alternative Uses
Best Use
Industrial
$6.77M
$5.92M – $7.89M
NOI $473,661 @ 7.0% cap · market cap 36.46%
Second Best
Retail
$1.52M
$1.33M – $1.77M
NOI $106,368 @ 7.0% cap · market cap 8.19%
Theoretical Best
Warehouse
$8.22M
$7.19M – $9.59M
NOI $575,160 @ 7.0% cap · market cap 44.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 99%
Shops & Services 1%
Tops Friendly Markets
Groceries
19,660 visits/mo
0.5 miles
Avis Budget Car Rental
Shops & Services
277 visits/mo
0.3 miles
Demographics for 14305, NY
16,427
Population
8,348
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,106
Density / Sq Mi
$49,588
Median Household Income
$30,314
Median Earnings
$798
Median Rent
$109,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Three buildings accommodate collision repair, mechanical service, storage, detailing, and light industrial operations.
Where is this auto shop located?
The property is located at 5621 Lockport Road Niagara Falls, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2.6‑acre corner property distributed across three separate tax parcels; Three commercial buildings with approximately 5,000, 2,000, and 900 square feet; Main repair facility includes multiple lifts, a professional paint booth, and equipment
