Mixed-Use Office and
For Sale
$1,150,000
Pending
6455 Lake Avenue, Orchard Park, NY 14127
Stabilized property with a recently remodeled second-floor office suite and two fully renovated residential apartments.
Property Size14,943 SF
Days on Market107
Property Features for 6455 Lake Avenue
General Information
Standard status
Pending
Size
14,943 SF
Property subtype
COMMERCIAL
Units
Multifamily Units
2
Office Units
1
Taxes and HOA fees
Annual Taxes
$15,136
Building Details
Building Size
14,943 SF
Year Built
1978
Listing Agency:
Hanna Commercial
Listed By:
Richard Wadsworth · License #10401370901
(716) 239-5764
Source:
Highfallssir
Added: Jul 17
Changed: Oct 31
Last Checked: Oct 30 at 9:12PM
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
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Investment Insights
Based on property information with market context.
This cash-flowing mixed-use property includes a recently remodeled second-floor office space. The building also features two residential apartments that have been fully renovated within the past three years, providing in-place residential income. Additional upside potential is noted for the second-floor office suite.
Roof replacement was completed approximately three years ago, and rooftop HVAC units were replaced approximately four years ago. The property is described as having an excellent location in the Southtowns.
New leases are in place, supporting income stability for the office and residential components. The configuration is well suited for an owner-user looking to maintain in-place income while occupying personal office space.
Roof replacement was completed approximately three years ago, and rooftop HVAC units were replaced approximately four years ago. The property is described as having an excellent location in the Southtowns.
New leases are in place, supporting income stability for the office and residential components. The configuration is well suited for an owner-user looking to maintain in-place income while occupying personal office space.
Key Highlights
- Cash‑flowing investment property with stabilized income from new leases
- Recently remodeled 2nd floor office space
- Two fully renovated residential apartments, with renovations completed within the past 3 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,079
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,580
$1.9M
Cap Rate 7%
$1,372,557
$1.4M
Cap Rate 9%
$1,067,544
$1.1M
Market Conditions
NOI Build-Up for 14,943 SF
Gross rent
$206.2K $13.80/SF
− Vacancy
−$69.0K −$4.61/SF
EGI
$137.3K $9.19/SF
− OpEx
−$41.2K −$2.76/SF
NOI
$96.1K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,580
Cap Rate 7%
$1,372,557
Cap Rate 9%
$1,067,544
Alternative Uses
Best Use
Office B
$2.67M
$2.34M – $3.12M
NOI $187,246 @ 7.0% cap · market cap 16.28%
Second Best
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $96,079 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$3.27M
$2.86M – $3.81M
NOI $228,664 @ 7.0% cap · market cap 19.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
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Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Stabilized property with a recently remodeled second-floor office suite and two fully renovated residential apartments.
Where is this office unit located?
The property is located at 6455 Lake Avenue Orchard Park, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Cash‑flowing investment property with stabilized income from new leases; Recently remodeled 2nd floor office space; Two fully renovated residential apartments, with renovations completed within the past 3 years
