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    2082 George Urban Blvd Depew, NY 14043

    Sponsored
    For Lease
    $10 SF/Yr

    230,000 SF Retail Plaza, High-Traffic Location

    Lot size:
    230,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 230,000 square foot retail plaza, situated at 2082 George Urban Blvd in Depew, NY (Erie County), 14043, presents a compelling investment opportunity. Located in a densely populated suburban area of Buffalo, NY, this thriving shopping center boasts a strong tenant mix including Wegmans, Gabe's, Home Outlet, Erie County Department of Motor Vehicles, Sherwin Williams, and several other established businesses. Key Bank and Citizens Bank are conveniently located on outparcels, further enhancing the property's visibility and accessibility. The plaza is zoned D-S (Strip Retail) and offers a variety of available spaces ranging from 600 square feet to 13,340 square feet, with several combined space options totaling up to 11,875 square feet. A newly constructed 1,740 square foot turn-key salon space is available, complete with shampoo stations and cabinetry. Additionally, a significant development area of approximately 24,000 square feet presents further expansion potential. The property's prime location, strong tenant occupancy, and diverse space options make it an ideal investment for both established businesses and new ventures. Cross street is Dick Road.

    Property Features for 2082 George Urban Blvd

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    230,000 SF
    Total Rate
    191666.67

    Unit(s) available at that property

    Space
    Space 13,340 sf
    Size
    13,340 SF
    Rate per SF
    $15
    Space
    Space 10,509 sf
    Size
    10,509 SF
    Rate per SF
    $15
    Space
    Space 7,500 sf
    Size
    7,500 SF
    Rate per SF
    $12
    Space
    Space 6,153 sf
    Size
    6,153 SF
    Rate per SF
    $15
    Space
    Space 4,374 sf
    Size
    4,375 SF
    Rate per SF
    $15
    Space
    Space 2,160 sf
    Size
    2,160 SF
    Rate per SF
    $15
    Space
    Space 1,740 sf
    Size
    1,740 SF
    Rate per SF
    $16
    Space
    Space 1,500 sf
    Size
    1,500 SF
    Rate per SF
    $12
    Space
    Space 1,500 sf
    Size
    1,500 SF
    Rate per SF
    $12
    Space
    Space 600 sf
    Size
    600 SF
    Rate per SF
    $15

    We can help!

    Listing Contact
    Penny Cipolla

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Sherwin-Williams Paint Store Painting

    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
    Depew
    County
    Erie
    State
    New York
    Longitude
    -78.73398843
    Latitude
    42.91895254

    Nearby Similar for Lease

    • Contact for pricing

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      Supermarket Anchored Shopping Center Space

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      Supermarket Anchored Shopping Center Space

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      Retail Space in Urbandale Plaza

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    FAQs

    What type of property is this?
    Lifestyle center - 230,000 SF Retail Plaza, High-Traffic Location
    Where is this lifestyle center located?
    The property is located at 2082 George Urban Blvd Depew, NY.
    What is the lease rate?
    The lease rate is $12-$16 SF/Yr.
    Request Owner's contact information
    2082 George Urban Blvd Depew, NY 14043
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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
    2082 George Urban Blvd Depew, NY 14043
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    We can help!
    Listing Contact
    Penny Cipolla
    Real Estate License ID: NY 10491206067
    Learn more
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