Retail Storefront with Flexible
For Sale
Contact for pricing
723 Sheridan Drive, Tonawanda, NY 14150
Move-in-ready retail storefront with flexible interior layout and ample on-site parking built in 1950.
Property Size1,400 SF
Price / SF$214.29
Days on Market16
Property Features for 723 Sheridan Drive
General Information
Standard status
Active
Size
1,400 SF
Total Parking Spaces
15
Property subtype
Retail, Mixed Use
Building Details
Year Built
1950
Buildings
1
Listing Agency:
716 Realty Group
Listed By:
Michael Matyjasik · License #NY 10401295685
Source:
Crexi
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 10 at 11:09AM
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 716 Realty Group
Investment Insights
Based on property information with market context.
This retail storefront at 723 Sheridan Drive, Tonawanda, NY 14150 is currently operating as a flower shop and offers an ultra-clean, move-in-ready interior. With a functional, flexible layout and a professional appearance, the space can support retail, office, service, showroom, or specialty business uses. The exterior has been freshly painted, and the property is set up with strong curb appeal.
The property totals approximately 1,400 SF and was built in 1950. On-site parking is available for customers and staff.
For buyers seeking a versatile storefront space that can transition beyond its current flower shop use, the combination of clean interior condition, flexible design, freshly painted exterior, and ample on-site parking supports a range of potential business configurations.
The property totals approximately 1,400 SF and was built in 1950. On-site parking is available for customers and staff.
For buyers seeking a versatile storefront space that can transition beyond its current flower shop use, the combination of clean interior condition, flexible design, freshly painted exterior, and ample on-site parking supports a range of potential business configurations.
Key Highlights
- Approximately 1,400 SF retail storefront
- Currently operating as a flower shop
- Built in 1950
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
$12,588
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
4.20%
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%
$251,760
$251.8K
Cap Rate 7%
$179,829
$179.8K
Cap Rate 9%
$139,867
$139.9K
Market Conditions
NOI Build-Up for 1,400 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
$20.2K $14.40/SF
− Vacancy
−$2.2K −$1.56/SF
EGI
$18.0K $12.84/SF
− OpEx
−$5.4K −$3.85/SF
NOI
$12.6K $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%
$251,760
Cap Rate 7%
$179,829
Cap Rate 9%
$139,867
Alternative Uses
Best Use
Retail
$179.8K
$157.4K – $209.8K
NOI $12,588 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.0K
$267.8K – $357.1K
NOI $21,423 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Home Improvements & Furnishings 18%
7-Eleven
Shops & Services
4,489 visits/mo
0.1 miles
Johnstone Supply
Home Improvements & Furnishings
1,445 visits/mo
0.3 miles
U-Haul
Shops & Services
1,339 visits/mo
0.3 miles
Camp Bow Wow
Shops & Services
786 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Move-in-ready retail storefront with flexible interior layout and ample on-site parking built in 1950.
Where is this storefront property located?
The property is located at 723 Sheridan Drive Tonawanda, NY.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Approximately 1,400 SF retail storefront; Currently operating as a flower shop; Built in 1950
