Renovated Flex Space with
For Sale
$549,000
6640 LINCOLN AVE, Lockport, NY 14094
Adaptable commercial building with showroom, offices, warehouse area, and potential for three separately accessed units.
Property Size5,520 SF
Price / SF$99.46
Days on Market15
Property Features for 6640 LINCOLN AVE
General Information
Standard status
Active
Size
5,520 SF
Property subtype
General Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,995
Amenities
Gas, A/C - Zone
3
Vinyl, Linoleum
Flat
22 Parking Spaces. Shared Driveway.
Rectangular
150X277
Rectangular.
Building Details
Year Built
1989
Buildings
1
Stories
1
Listing Agency:
HUNT Real Estate ERA
(716) 864-2732
Listed By:
Kathryn Barrett
(716) 864-2732
Source:
Xome
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 2:32PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
Renovated flex space at 6640 Lincoln Ave in Lockport, NY, combining a showroom, multiple private offices, kitchen area, and warehouse space within 5,520 square feet. The building was constructed in 1989 and offers a configuration suited to a range of commercial operations.
The property can be separated into three units, with each unit having its own front entrance, rear access, electric service, and HVAC system. Additional site features include 150 feet of frontage, 22 parking spaces, and a shared driveway. The rectangular parcel measures 150X277.
The property can be separated into three units, with each unit having its own front entrance, rear access, electric service, and HVAC system. Additional site features include 150 feet of frontage, 22 parking spaces, and a shared driveway. The rectangular parcel measures 150X277.
Key Highlights
- 5,520‑square‑foot renovated flex space at 6640 Lincoln Ave, Lockport, NY 14094
- Showroom, multiple private offices, kitchen area, and warehouse space
- Can be divided into three units with separate front entrances and rear access
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
$48,205
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
8.78%
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%
$964,100
$964.1K
Cap Rate 7%
$688,643
$688.6K
Cap Rate 9%
$535,611
$535.6K
Market Conditions
NOI Build-Up for 5,520 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
$79.5K $14.40/SF
− Vacancy
−$5.3K −$0.96/SF
EGI
$74.2K $13.44/SF
− OpEx
−$26.0K −$4.70/SF
NOI
$48.2K $8.73/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$964,100
Cap Rate 7%
$688,643
Cap Rate 9%
$535,611
Alternative Uses
Best Use
Warehouse
$4.69M
$4.10M – $5.47M
NOI $328,323 @ 7.0% cap · market cap 59.80%
Second Best
Industrial
$3.86M
$3.38M – $4.51M
NOI $270,383 @ 7.0% cap · market cap 49.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with showroom, offices, warehouse area, and potential for three separately accessed units.
Where is this flex space located?
The property is located at 6640 LINCOLN AVE Lockport, 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: 5,520‑square‑foot renovated flex space at 6640 Lincoln Ave, Lockport, NY 14094; Showroom, multiple private offices, kitchen area, and warehouse space; Can be divided into three units with separate front entrances and rear access
