Two-Tenant Strip
For Sale
$1,450,000
8670 Main Street, Clarence, NY 14221
Two-tenant retail center with vacant commercial space featuring offices, a lobby, and flexible open area.
Property Size11,193 SF
Lot Size2.61 Acres
Days on Market192
Property Features for 8670 Main Street
General Information
Standard status
Active
Size
11,193 SF
Class
C
Lot size
2.61 Acres
Property subtype
Strip Center
Building Details
Building Size
11,193 SF
Year Built
1972
Buildings
1
Tenancy
Multi
Properties For Sale
at 8670 Main Street Contact us- Size
- 5,575 SF
- Lease Type
- NNN
Available Space
Listing Agency:
Donovan RES
(716) 998-2943
Listed By:
Brian Donovan · License ##10491202934
(716) 998-2943
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 2:19PM
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 Donovan RES
Investment Insights
Based on property information with market context.
This two-tenant retail center sits on a 2.61-acre parcel and includes vacant commercial space configured with a lobby, administrative office, private offices, and a sizable open multi-use area. The 1972 building has been maintained by its current owner, a commercial general contractor. The property can accommodate an owner-user or an additional occupant within the available area.
The center is positioned along Main Street, also designated NY-5, between Harris Hill Road and Thompson Road in Clarence. It is east of the Transit Road retail corridor, where surrounding commercial activity includes Eastern Hills Mall, Walmart Supercenter, Kohl’s, Target, restaurants, Stonegate Office Park, Epic Sports and Fun Center, Regal Cinemas & IMAX, hotels, and office complexes.
The rear of the parcel previously received approval for three additional buildings measuring 4,000 SF, 5,000 SF, and 6,000 SF.
The center is positioned along Main Street, also designated NY-5, between Harris Hill Road and Thompson Road in Clarence. It is east of the Transit Road retail corridor, where surrounding commercial activity includes Eastern Hills Mall, Walmart Supercenter, Kohl’s, Target, restaurants, Stonegate Office Park, Epic Sports and Fun Center, Regal Cinemas & IMAX, hotels, and office complexes.
The rear of the parcel previously received approval for three additional buildings measuring 4,000 SF, 5,000 SF, and 6,000 SF.
Key Highlights
- 2.61‑acre retail parcel in Clarence, NY
- Two‑tenant building with vacant commercial space
- Interior includes lobby, administrative office, private offices, and open multi‑use area
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
$100,640
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
6.94%
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%
$2,012,800
$2.0M
Cap Rate 7%
$1,437,714
$1.4M
Cap Rate 9%
$1,118,222
$1.1M
Market Conditions
NOI Build-Up for 11,193 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
$161.2K $14.40/SF
− Vacancy
−$17.4K −$1.56/SF
EGI
$143.8K $12.84/SF
− OpEx
−$43.1K −$3.85/SF
NOI
$100.6K $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%
$2,012,800
Cap Rate 7%
$1,437,714
Cap Rate 9%
$1,118,222
Alternative Uses
Best Use
Retail
$1.44M
$1.26M – $1.68M
NOI $100,640 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.45M
$2.14M – $2.85M
NOI $171,280 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
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?
Strip mall - Two-tenant retail center with vacant commercial space featuring offices, a lobby, and flexible open area.
Where is this strip mall located?
The property is located at 8670 Main Street Clarence, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 2.61‑acre retail parcel in Clarence, NY; Two‑tenant building with vacant commercial space; Interior includes lobby, administrative office, private offices, and open multi‑use area
