Renovated Flex Space with
New
For Sale
$549,000
6640 Lincoln Ave South, Lockport, NY 14094
Showroom, private offices, kitchen, and warehouse space support a range of commercial layouts.
Property Size5,520 SF
Days on Market2
Property Features for 6640 Lincoln Ave South
General Information
Standard status
Active
Size
5,520 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,995
Building Details
Building Size
5,520 SF
Year Built
1989
Buildings
1
Stories
1
Units
3
Listing Agency:
HUNT Real Estate ERA
(716) 864-2732
Listed By:
Kathryn Barrett
(716) 864-2732
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 6:56AM
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.
This renovated flex property combines a customer-facing showroom with multiple private offices, a kitchen area, and dedicated warehouse space. The building can be arranged into three separate units, with individual front entrances, rear access, separate electric service, and independent HVAC systems. These features support flexible occupancy and operational separation within one building.
Located at 6640 Lincoln Ave in South Lockport, the property offers 150 feet of frontage. The building was constructed in 1989 and includes separate utilities, providing distinct service arrangements for the interior areas. The site is rated car-dependent with a Walk Score of 8 and somewhat bikeable with a Bike Score of 27.
Located at 6640 Lincoln Ave in South Lockport, the property offers 150 feet of frontage. The building was constructed in 1989 and includes separate utilities, providing distinct service arrangements for the interior areas. The site is rated car-dependent with a Walk Score of 8 and somewhat bikeable with a Bike Score of 27.
Key Highlights
- 150 feet of frontage along Lincoln Ave
- Renovated flex building with showroom, offices, kitchen, and warehouse area
- Can be configured as three separate units
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
Paved road access
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 - Showroom, private offices, kitchen, and warehouse space support a range of commercial layouts.
Where is this flex space located?
The property is located at 6640 Lincoln Ave South 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: 150 feet of frontage along Lincoln Ave; Renovated flex building with showroom, offices, kitchen, and warehouse area; Can be configured as three separate units
