Live-Work Property With Heated
New
For Sale
$229,900
8855 State Rd, Colden, NY 14033
Attached residence and substantial heated workspace support combined living and commercial use.
Property Size2,736 SF
Days on Market4
Property Features for 8855 State Rd
General Information
Standard status
Active
Size
2,736 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,599
Building Details
Building Size
2,736 SF
Year Built
1986
Stories
2
Listing Agency:
Gurney Becker & Bourne
(716) 698-4320
Listed By:
Daneen M Vincent · License #30VI0843028
(716) 698-4320
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:05AM
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 live-work property combines an attached residence with a substantial heated garage and shop. The home includes three bedrooms, one bathroom, a wood-burning stove, an efficient kitchen, and a dining area that also serves as office space. A spiral staircase connects to the second-floor bedrooms, each with access to an exterior staircase and a private deck.
The attached 24×60 garage/shop provides approximately 1,440 sq. ft. of heated workspace with electric service. The property also includes a patio, fenced backyard, and storage shed. It backs directly to Colden Town Park, with access to green space, trails, and seasonal activities. The address is 8855 State Rd, Colden, NY 14033.
The attached 24×60 garage/shop provides approximately 1,440 sq. ft. of heated workspace with electric service. The property also includes a patio, fenced backyard, and storage shed. It backs directly to Colden Town Park, with access to green space, trails, and seasonal activities. The address is 8855 State Rd, Colden, NY 14033.
Key Highlights
- 24×60 heated garage/shop with electric service and approximately 1,440 sq. ft. of workspace
- Attached 3‑bedroom, 1‑bath residence
- Second‑floor bedrooms include exterior staircase access and private decks
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
$15,730
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
6.84%
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%
$314,600
$314.6K
Cap Rate 7%
$224,714
$224.7K
Cap Rate 9%
$174,778
$174.8K
Market Conditions
NOI Build-Up for 2,736 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
$25.9K $9.48/SF
− Vacancy
−$1.7K −$0.64/SF
EGI
$24.2K $8.84/SF
− OpEx
−$8.5K −$3.10/SF
NOI
$15.7K $5.75/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$9.48 /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%
$314,600
Cap Rate 7%
$224,714
Cap Rate 9%
$174,778
Alternative Uses
Best Use
Office B
$489.8K
$428.6K – $571.4K
NOI $34,284 @ 7.0% cap · market cap 14.91%
Second Best
Specialty Retail
$470.7K
$411.8K – $549.1K
NOI $32,947 @ 7.0% cap · market cap 14.33%
Theoretical Best
Office A
$598.1K
$523.3K – $697.8K
NOI $41,867 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 14033, NY
2,173
Population
727
Households
3
Avg Household Size
52
Median Age
42%
College-Educated
98%
High-School Grad
17.4 sq mi
ZIP Area
125
Density / Sq Mi
$84,167
Median Household Income
$45,852
Median Earnings
$1,077
Median Rent
$293,400
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?
Live-work space - Attached residence and substantial heated workspace support combined living and commercial use.
Where is this live-work space located?
The property is located at 8855 State Rd Colden, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 24×60 heated garage/shop with electric service and approximately 1,440 sq. ft. of workspace; Attached 3‑bedroom, 1‑bath residence; Second‑floor bedrooms include exterior staircase access and private decks
