Office/Commercial Space in Tops
For Sale
Contact for pricing
5833 S Transit Rd, Lockport, NY 14094
1,050 SF office/commercial space in prime location for sale.
Property Size1,050 SF
Price / SF$237.14
Days on Market117
Property Features for 5833 S Transit Rd
General Information
Standard status
Active
Size
1,050 SF
Total Parking Spaces
8
Property subtype
Office
Zoning
General Business B-2
Building Details
Year Built
1995
Buildings
1
Listing Agency:
Hanna Commercial Real Estate Buffalo
Listed By:
William Heussler · License #NY 10301210026
(716) 818-3186
Source:
Crexi
Added: May 11
Changed: Aug 8
Last Checked: Sep 1 at 11:45PM
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 Hanna Commercial Real Estate Buffalo
Investment Insights
Based on property information with market context.
This 1,050 square foot office/commercial space is available for sale. It is located inside of Tops Plaza, which brings in thousands of people daily. The property includes eight private parking spots. Additionally, there is a fully functional 1,008 square foot basement. The zoning is General Business B-2.
Key Highlights
- Prime location inside Tops Plaza with high daily traffic
- Enjoy the convenience of 8 private parking spots
- 1,050 SF of Office/Commercial Space
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
$14,850
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
5.96%
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%
$297,000
$297.0K
Cap Rate 7%
$212,143
$212.1K
Cap Rate 9%
$165,000
$165.0K
Market Conditions
NOI Build-Up for 1,050 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
$22.7K $21.60/SF
− Vacancy
−$2.9K −$2.74/SF
EGI
$19.8K $18.86/SF
− OpEx
−$4.9K −$4.71/SF
NOI
$14.8K $14.14/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$297,000
Cap Rate 7%
$212,143
Cap Rate 9%
$165,000
Alternative Uses
Best Use
Office B
$212.1K
$185.6K – $247.5K
NOI $14,850 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$892.2K
$780.7K – $1.04M
NOI $62,453 @ 7.0% cap · market cap 25.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - 1,050 SF office/commercial space in prime location for sale.
Where is this office units located?
The property is located at 5833 S Transit Rd Lockport, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Prime location inside Tops Plaza with high daily traffic; Enjoy the convenience of 8 private parking spots; 1,050 SF of Office/Commercial Space
