Live-Work Property With Heated
For Sale
$219,900
8855 State Road, Colden, NY 14033
CommercialSale, Colden, NY
Property Size2,736 SF
Lot Size0.20 Acres
Price / SF$80.37
Days on Market20
Property Features for 8855 State Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MULTI
Parking
5
Lot features
Rectangular, Rectangular Lot
Elementary school district
Springville-Griffith Institute
Middle school district
Springville-Griffith Institute
High school district
Springville-Griffith Institute
Subdivision
Colden-143400
Standard status
Active
APN
143400-243-030-0003-003-000
Size
2,736 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
3599
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
wood-burning stove
patio
storage shed
private deck
Building Details
Year built
1986
Floors in Building
2
Roof type
Metal
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Daneen M Vincent · License #30VI0843028
(716) 698-4320
Added: Aug 5
Changed: Aug 19
Last Checked: Aug 24 at 4:06AM
MLS# B1701293
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work property combines an attached residence with substantial shop space on a 0.2-acre parcel. The residence includes 3 bedrooms, 1 bathroom, a wood-burning stove, kitchen, dining area used as office space, and exterior access from each second-floor bedroom to a small private deck. The home was built in 1985 according to the property description, while the record separately identifies the structure as built in 1986; neither year is included here due to that conflict.
The 24-by-60-foot heated garage and shop provides approximately 1,440 square feet of workspace with electric service. Additional site features include a patio, fencing, storage shed, public water, septic service, and a metal roof. The property is zoned MULTI and backs to Colden Town Park. It previously housed Maybach Small Engine Repair Shop for 40 years, and that business has relocated.
The 24-by-60-foot heated garage and shop provides approximately 1,440 square feet of workspace with electric service. Additional site features include a patio, fencing, storage shed, public water, septic service, and a metal roof. The property is zoned MULTI and backs to Colden Town Park. It previously housed Maybach Small Engine Repair Shop for 40 years, and that business has relocated.
Key Highlights
- 24‑by‑60‑foot heated garage/shop with electric service
- Approximately 1,440 square feet of workspace
- Attached 3‑bedroom, 1‑bath residence
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
$12,008
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
5.46%
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%
$240,160
$240.2K
Cap Rate 7%
$171,543
$171.5K
Cap Rate 9%
$133,422
$133.4K
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
$18.4K $6.72/SF
− Vacancy
−$1.2K −$0.45/SF
EGI
$17.2K $6.27/SF
− OpEx
−$5.1K −$1.88/SF
NOI
$12.0K $4.39/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$6.72 /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%
$240,160
Cap Rate 7%
$171,543
Cap Rate 9%
$133,422
Alternative Uses
Best Use
Office B
$489.8K
$428.6K – $571.4K
NOI $34,284 @ 7.0% cap · market cap 15.59%
Second Best
Mixed Use
$367.2K
$321.3K – $428.4K
NOI $25,701 @ 7.0% cap · market cap 11.69%
Theoretical Best
Office A
$598.1K
$523.3K – $697.8K
NOI $41,867 @ 7.0% cap · market cap 19.04%
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 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 heated workspace support flexible commercial and personal use.
Where is this live-work space 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‑by‑60‑foot heated garage/shop with electric service; Approximately 1,440 square feet of workspace; Attached 3‑bedroom, 1‑bath residence
