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    355 Orchard Park Rd West Seneca, NY 14224

    Sponsored
    For Sale
    Contact for pricing

    32.5-56 acres, shovel-ready, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional commercial land parcel, spanning 32.5 to 56 acres, presents a significant development opportunity in West Seneca, NY. Located at 355 Orchard Park Road, this strategically positioned site boasts convenient access to the NYS Thruway (I-90, exit 55) and NFTA Bus Route 42, ensuring excellent connectivity. Zoned M1, the property is primed for a variety of uses, including retail, multifamily, hospitality, and medical/continuing care facilities. All utilities are readily available, making this a truly shovel-ready opportunity. Its location on the border of the USA and Canada, within a day's drive of 75% of North America's population, offers unparalleled access to a vast market. Further enhancing its appeal is the presence of a 93,100 square foot regional grocery store on the site, providing an additional investment opportunity. The property sits at the intersection of Ridge Road and Slade Avenue, south of Buffalo, within a region experiencing substantial economic growth fueled by state investments and regulatory reforms promoting mixed-use developments. This area benefits from a diverse industrial base, including advanced manufacturing, health and life sciences, and a thriving tourism sector. This makes it an attractive location for new ventures and promises significant long-term potential. The large contiguous parcel offers developers the flexibility to create a truly impactful project.

    Property Features for 355 Orchard Park Rd

    General Information

    Property type
    Land
    Lot Size
    1,415,700 SF

    HighLights

    • 32.5‑56 acre commercial land parcel in West Seneca, NY, zoned M1.
    • Prime location for retail, multifamily, hospitality, and medical development, near the US‑Canada border.
    • Shovel‑ready site with all utilities available.
    • Convenient access to I‑90 (exit 55) and NFTA Bus Route 42.
    • Adjacent to a 93,100 SF regional grocery store.
    • Situated at Ridge Road and Slade Avenue intersection in West Seneca, south of Buffalo.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tops Pharmacy Pharmacy Parking Lot near ... Supermarket CDReload - Online Bitcoin ... Crypto Atm Western Union Money Transfer Service Redbox Movie Rental Kiosk

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Seneca
    County
    Erie
    State
    New York
    Longitude
    -78.7839792
    Latitude
    42.8328272

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    FAQs

    What type of property is this?
    Land - 32.5-56 acres, shovel-ready, ideal for development.
    Where is this land located?
    The property is located at 355 Orchard Park Rd West Seneca, NY.
    What are key features of this property?
    This property features: 32.5-56 acre commercial land parcel in West Seneca, NY, zoned M1.; Prime location for retail, multifamily, hospitality, and medical development, near the US-Canada border.; Shovel-ready site with all utilities available.
    Request Owner's contact information
    355 Orchard Park Rd West Seneca, NY 14224
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    West Seneca, NY 14224
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    355 Orchard Park Rd West Seneca, NY 14224
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