Warehouse with Overhead
For Sale
Contact for pricing
609 Indian Church Road, West Seneca, NY 14224
Industrial-zoned warehouse with crane equipment, office areas, an apartment, and a separate cold storage building.
Property Size25,300 SF
Price / SF$94.82
Days on Market123
Property Features for 609 Indian Church Road
General Information
Standard status
Active
Size
25,300 SF
Property subtype
Office, Industrial
Zoning
Industrial
Additional Details
Cold Storage
Yes
Building Details
Year Built
1970
Year Renovated
2019
Buildings
3
Units
20
Listing Agency:
Prime Real Property Services
Listed By:
Michael Kaderabeck · License #NY 10491212389
Source:
Crexi
Added: May 1
Changed: Aug 30
Last Checked: Aug 30 at 6:30AM
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 Prime Real Property Services
Investment Insights
Based on property information with market context.
This 25,300-square-foot warehouse was built in 1970 and is situated on an Industrial-zoned property. The building offers 18'+ of clear ceiling height, along with included overhead and jib cranes. Office space and an apartment are incorporated into the facility, supporting a combination of operational and administrative functions.
A separate cold storage building adds refrigerated storage capability to the property. Ample power is available on site for manufacturing operations. The facility is located at 609 Indian Church Road in West Seneca, NY 14224.
A separate cold storage building adds refrigerated storage capability to the property. Ample power is available on site for manufacturing operations. The facility is located at 609 Indian Church Road in West Seneca, NY 14224.
Key Highlights
- 25,300 SF warehouse built in 1970
- 18'+ of clear ceiling height
- Included overhead and jib cranes
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
$215,183
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
8.97%
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%
$4,303,660
$4.3M
Cap Rate 7%
$3,074,043
$3.1M
Cap Rate 9%
$2,390,922
$2.4M
Market Conditions
NOI Build-Up for 25,300 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
$258.1K $10.20/SF
− Vacancy
−$4.9K −$0.19/SF
EGI
$253.2K $10.01/SF
− OpEx
−$38.0K −$1.50/SF
NOI
$215.2K $8.51/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$4,303,660
Cap Rate 7%
$3,074,043
Cap Rate 9%
$2,390,922
Alternative Uses
Best Use
Warehouse
$3.07M
$2.69M – $3.59M
NOI $215,183 @ 7.0% cap · market cap 8.97%
Second Best
Flex RnD
$2.62M
$2.29M – $3.06M
NOI $183,526 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$6.08M
$5.32M – $7.10M
NOI $425,890 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Industrial-zoned warehouse with crane equipment, office areas, an apartment, and a separate cold storage building.
Where is this warehouse located?
The property is located at 609 Indian Church Road West Seneca, NY.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 25,300 SF warehouse built in 1970; 18'+ of clear ceiling height; Included overhead and jib cranes
