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    5294 Broadway Lancaster, NY 14086

    Sponsored
    For Sale
    $309,900

    Prime Lancaster location, 1600 sq ft, vacant.

    Property size:
    1,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This 1,600 square-foot vacant commercial property, located at 5294 Broadway in Lancaster, NY 14086, presents a fantastic opportunity. The building, constructed in 1985 and renovated in 2020, is classified as Class C and sits on a 0.16-acre lot. Currently configured as office space, it features four private offices/treatment rooms, a reception area, a waiting room with a half bath, storage space, and a private office with a full bath and rear access. The flexible layout allows for easy reconfiguration to suit various needs, as all interior walls are non-load bearing. The property boasts 15 parking spaces, offering ample convenience for clients and staff. Its prime location between Transit Road and downtown Lancaster ensures excellent visibility and accessibility. The building benefits from a 2003 roof replacement and regularly scheduled mechanical maintenance. Phase 1 and Phase 2 environmental assessments have been completed, confirming a clean site. Its proximity to major roadways, including Transit Road, the Buffalo Niagara International Airport, and the New York State Thruway (I-90), makes it highly accessible. The motivated sellers are seeking $309,900 for this property, representing a price per square foot of $193.69. This is a turnkey opportunity for businesses seeking a well-maintained, conveniently located space in a thriving area.

    Property Features for 5294 Broadway

    General Information

    Property type
    Medical offices
    Square Feet
    1,600 SF
    Class
    C
    Lot Size
    6,970 SF

    Building Details

    Year Built/Renovated
    1985/2020
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 1,600 SF vacant commercial building on a 0.16‑acre lot in Lancaster, NY.
    • Class C building, renovated in 2020, with four offices/treatment rooms, reception area, waiting room, and ample storage.
    • 15 parking spaces and excellent visibility due to location between Transit Road and downtown Lancaster.
    • $309,900 asking price ($193.69/SF). Phase I & II environmental reports completed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    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
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.6341996
    Latitude
    42.8982361

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    FAQs

    What type of property is this?
    Medical office - Prime Lancaster location, 1600 sq ft, vacant.
    Where is this medical office located?
    The property is located at 5294 Broadway Lancaster, NY.
    What is the asking price?
    The asking price for this property is $309,900.
    What are key features of this property?
    This property features: 1,600 SF vacant commercial building on a 0.16-acre lot in Lancaster, NY.; Class C building, renovated in 2020, with four offices/treatment rooms, reception area, waiting room, and ample storage.; 15 parking spaces and excellent visibility due to location between Transit Road and downtown Lancaster.
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    Realmo Value Estimation

    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.

    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.

    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
    5294 Broadway Lancaster, NY 14086
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