Listing Agency: Recckio Real Estate & Development r***@recckio.com Show Phone

Listed By: Rick Recckio · License #31RE0821429 Show Phone

Source: Moodyscre

Added: Sep 10, 2025 Changed: Aug 11 Last Checked: Aug 12 at 5:52AM

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Investment Insights

Based on property information with market context.

This property features 4,278+/- SF of retail space within a former restaurant building that was later converted to office and daycare use. The building includes a full basement for storage, central air, and 3-phase electric with solid mechanicals. It also offers semi-private backyard space suitable for outdoor patios and events.

The site includes a large on-site lot accommodating 30+ vehicles and sits on over 2.5 acres, providing room for expansion or additional structures. The seller states there are plans and municipal approvals secured for a brewery.

The property presents flexibility for continued use or redevelopment, with potential for retail, professional and medical offices, restaurant or café concepts, or reimagining the site for multi-use commercial development.

Key Highlights

• 4,278+/- SF former restaurant building with central air and 3‑phase electric
• Over 2.5 acres with room for expansion or additional structures
• Large on‑site lot with parking for 30+ vehicles

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

$38,465

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

7.01%

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%

$769,300 $769.3K

Cap Rate 7%

$549,500 $549.5K

Cap Rate 9%

$427,389 $427.4K

Market Conditions

NOI Build-Up for 4,278 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

$61.6K $14.40/SF

− Vacancy

−$6.7K −$1.56/SF

EGI

$55.0K $12.84/SF

− OpEx

−$16.5K −$3.85/SF

NOI

$38.5K $8.99/SF

Area

Erie County, NY

Vacancy

10.80%

Lease Rate

$14.40 /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%

$769,300

Cap Rate 7%

$549,500

Cap Rate 9%

$427,389

Alternative Uses

Best Use

Retail

$549.5K

$480.8K – $641.1K (±1% cap)

NOI $38,465 @ 7.0% cap · market cap 7.01%

Second Best

Industrial

$268.2K

$234.7K – $312.9K (±1% cap)

NOI $18,775 @ 7.0% cap · market cap 3.42%

Theoretical Best

Office A

$935.2K

$818.3K – $1.09M (±1% cap)

NOI $65,464 @ 7.0% cap · market cap 11.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Law Firm Dental Office Auto Repair Shop Hair Salon Parking Lot & Garage Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

103

Businesses Nearby

Explore this area Business Placement

Demographics for 14032, NY

9,368

Population

3,936

Households

2.4

Avg Household Size

43

Median Age

58%

College-Educated

96%

High-School Grad

23.9 sq mi

ZIP Area

392

Density / Sq Mi

$160,079

Median Household Income

$71,973

Median Earnings

$1,837

Median Rent

$483,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Former restaurant building offering 4,278+/- SF with central air, 3-phase electric, and extensive on-site parking.

Where is this retail space located?

The property is located at 6260 Goodrich Rd Clarence Center, NY.

What is the asking price?

The asking price for this property is $549,000.

What are key features of this property?

This property features: 4,278+/- SF former restaurant building with central air and 3‑phase electric; Over 2.5 acres with room for expansion or additional structures; Large on‑site lot with parking for 30+ vehicles