Crane-Equipped Manufacturing
For Sale
$3,600,000
7 HACKETT DR, Tonawanda, NY 14150
Light industrial facility with extensive crane coverage, high-bay production space, and a compacted gravel yard.
Property Size55,828 SF
Price / SF$64.48
Days on Market51
Property Features for 7 HACKETT DR
General Information
Standard status
Active
Size
55,828 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$30,634
Amenities
Gas
3
Composition, Membrane, Rubber
80 Parking Spaces.
605X318
Building Details
Year Built
1986
Stories
1
Listing Agency:
Gurney Becker & Bourne
(716) 930-7741
Listed By:
Charles Bo Gurney · License #10401243887
(716) 930-7741
Source:
Xome
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 23 at 2:20AM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This 55,828± SF light industrial manufacturing facility occupies 5.70± acres at 7 Hackett Drive in Tonawanda, New York. Approximately 49,000 SF is configured for manufacturing, with 100% crane coverage across the production area. Eleven overhead bridge cranes range from 5 to 25 tons and provide up to 23 feet under the hook. The high-bay section reaches approximately 28-foot clear heights.
The property includes a 2,000-amp, 208/220V, 3-phase electrical service with extensive bus duct distribution throughout the plant. A large compacted gravel yard supports equipment storage, trailer parking, outdoor inventory, and fleet operations. Built in 1986, the facility is zoned Lt Ind, Light Industrial, and is positioned within the Spaulding Business Park redevelopment corridor and Tonawanda’s established manufacturing corridor, with access to regional transportation routes.
The property includes a 2,000-amp, 208/220V, 3-phase electrical service with extensive bus duct distribution throughout the plant. A large compacted gravel yard supports equipment storage, trailer parking, outdoor inventory, and fleet operations. Built in 1986, the facility is zoned Lt Ind, Light Industrial, and is positioned within the Spaulding Business Park redevelopment corridor and Tonawanda’s established manufacturing corridor, with access to regional transportation routes.
Key Highlights
- 55,828± SF manufacturing facility on 5.70± acres
- Approximately 49,000 SF of manufacturing space with 100% crane coverage
- Eleven overhead bridge cranes ranging from 5 to 25 tons
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
$297,524
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
8.26%
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%
$5,950,480
$6.0M
Cap Rate 7%
$4,250,343
$4.3M
Cap Rate 9%
$3,305,822
$3.3M
Market Conditions
NOI Build-Up for 55,828 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
$375.2K $6.72/SF
− Vacancy
−$25.1K −$0.45/SF
EGI
$350.0K $6.27/SF
− OpEx
−$52.5K −$0.94/SF
NOI
$297.5K $5.33/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$6.72 /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%
$5,950,480
Cap Rate 7%
$4,250,343
Cap Rate 9%
$3,305,822
Alternative Uses
Best Use
Warehouse
$4.25M
$3.72M – $4.96M
NOI $297,524 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$3.50M
$3.06M – $4.08M
NOI $245,020 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$12.20M
$10.68M – $14.24M
NOI $854,302 @ 7.0% cap · market cap 23.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Light industrial facility with extensive crane coverage, high-bay production space, and a compacted gravel yard.
Where is this manufacturing property located?
The property is located at 7 HACKETT DR Tonawanda, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 55,828± SF manufacturing facility on 5.70± acres; Approximately 49,000 SF of manufacturing space with 100% crane coverage; Eleven overhead bridge cranes ranging from 5 to 25 tons
