Mixed-Use Property with Heated
For Sale
$219,900
8855 State Road, Colden, NY 14033
Attached residence pairs with an electrically serviced, climate-controlled garage and shop.
Property Size2,736 SF
Price / SF$152.71
Days on Market16
Property Features for 8855 State Road
General Information
Standard status
Active
Size
2,736 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
MULTI
Site & Location
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$3,599
Amenities
wood-burning stove
efficient kitchen
spiral staircase
exterior staircase
private decks
heated garage/shop
patio
fencing
storage shed
park access
Building Details
Building Size
2,736 SF
Year Built
1986
Buildings
1
Stories
2
Listing Agency:
Gurney Becker & Bourne
(716) 698-4320
Listed By:
Daneen M Vincent · License #30VI0843028
(716) 698-4320
Source:
Homeprocny
Added: Aug 5
Changed: Aug 15
Last Checked: Aug 19 at 3:43PM
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 mixed-use property combines an attached three-bedroom, one-bath residence with a substantial heated garage and shop. The home includes a wood-burning stove, efficient kitchen, dining area that can serve as office space, and three second-floor bedrooms. Each bedroom connects to an exterior stairway and a small private deck. The 24-by-60-foot shop provides approximately 1,440 square feet of heated workspace with electric service.
The property is located at 8855 State Road in Colden and is zoned MULTI. Its outdoor improvements include a fenced backyard, patio, and storage shed. The site also adjoins Colden Town Park, providing direct access to its green space, trails, and seasonal activities. For 40 years, the property operated as the Maybach Small Engine Repair Shop before that business relocated to Maltby Road.
The property is located at 8855 State Road in Colden and is zoned MULTI. Its outdoor improvements include a fenced backyard, patio, and storage shed. The site also adjoins Colden Town Park, providing direct access to its green space, trails, and seasonal activities. For 40 years, the property operated as the Maybach Small Engine Repair Shop before that business relocated to Maltby Road.
Key Highlights
- 24×60 heated garage/shop with approximately 1,440 sq. ft. of workspace and electric service
- Attached 3‑bedroom, 1‑bath residence with wood‑burning stove and flexible dining/office area
- Three second‑floor bedrooms feature exterior stair access and small 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
$17,340
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
7.89%
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%
$346,800
$346.8K
Cap Rate 7%
$247,714
$247.7K
Cap Rate 9%
$192,667
$192.7K
Market Conditions
NOI Build-Up for 1,440 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 $18.00/SF
− Vacancy
−$2.8K −$1.94/SF
EGI
$23.1K $16.06/SF
− OpEx
−$5.8K −$4.01/SF
NOI
$17.3K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$346,800
Cap Rate 7%
$247,714
Cap Rate 9%
$192,667
Alternative Uses
Best Use
Specialty Retail
$247.7K
$216.8K – $289.0K
NOI $17,340 @ 7.0% cap · market cap 7.89%
Second Best
Mixed Use
$193.2K
$169.1K – $225.5K
NOI $13,527 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$314.8K
$275.4K – $367.3K
NOI $22,035 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Attached residence pairs with an electrically serviced, climate-controlled garage and shop.
Where is this mixed-use property located?
The property is located at 8855 State Road Colden, NY.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 24×60 heated garage/shop with approximately 1,440 sq. ft. of workspace and electric service; Attached 3‑bedroom, 1‑bath residence with wood‑burning stove and flexible dining/office area; Three second‑floor bedrooms feature exterior stair access and small private decks
