Medical Office/Retail
For Sale
Contact for pricing
6140 Transit Rd, Depew, NY 14043
Medical office/retail building in C-2 Shopping Center District on a high-traffic corridor near a new O’Reilly Auto Parts.
Property Size5,520 SF
Price / SF$230.98
Days on Market118
Property Features for 6140 Transit Rd
General Information
Standard status
Active
Size
5,520 SF
Property subtype
RETAIL
Zoning
C-2
Site & Location
Traffic Count
22,646 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
5,520 SF
Listing Agency:
CBRE | Buffalo
(716) 855-3700
Listed By:
Shana Stegner
(716) 574-9728
Source:
Moodyscre
Added: May 11
Changed: Aug 23
Last Checked: Sep 4 at 10:50AM
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 CBRE | Buffalo
Investment Insights
Based on property information with market context.
This medical office/retail building offers 5,520 sq. ft. of space on a high-traffic corridor. The property is positioned to serve both medical and retail-oriented uses, supported by its C-2 Shopping Center District zoning (Village of Depew).
The site benefits from strong roadway exposure with 22,646 AADT (NYSDOT, 2024). It also sits adjacent to a new O’Reilly Auto Parts location, creating convenient retail draw in the immediate area. For regional access, the property is approximately 1.7 mi. to I-90 / NYS Thruway (Exit 49 - Depew / Rt. 78).
Overall, the combination of flexible building use, C-2 zoning, and established traffic patterns makes this a practical option for an operator seeking a storefront-ready presence along Transit Rd.
The site benefits from strong roadway exposure with 22,646 AADT (NYSDOT, 2024). It also sits adjacent to a new O’Reilly Auto Parts location, creating convenient retail draw in the immediate area. For regional access, the property is approximately 1.7 mi. to I-90 / NYS Thruway (Exit 49 - Depew / Rt. 78).
Overall, the combination of flexible building use, C-2 zoning, and established traffic patterns makes this a practical option for an operator seeking a storefront-ready presence along Transit Rd.
Key Highlights
- 5,520 sq. ft. medical office/retail building
- C‑2 Shopping Center District zoning (Village of Depew)
- Adjacent to a new O’Reilly Auto Parts location
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
$69,169
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
5.43%
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%
$1,383,380
$1.4M
Cap Rate 7%
$988,129
$988.1K
Cap Rate 9%
$768,544
$768.5K
Market Conditions
NOI Build-Up for 5,520 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
$112.6K $20.40/SF
− Vacancy
−$20.4K −$3.69/SF
EGI
$92.2K $16.71/SF
− OpEx
−$23.1K −$4.18/SF
NOI
$69.2K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /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%
$1,383,380
Cap Rate 7%
$988,129
Cap Rate 9%
$768,544
Alternative Uses
Best Use
Office B
$988.1K
$864.6K – $1.15M
NOI $69,169 @ 7.0% cap · market cap 5.43%
Second Best
Healthcare Medical
$759.7K
$664.7K – $886.3K
NOI $53,177 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,469 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,646 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
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?
Medical Office Space - Medical office/retail building in C-2 Shopping Center District on a high-traffic corridor near a new O’Reilly Auto Parts.
Where is this medical office space located?
The property is located at 6140 Transit Rd Depew, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 5,520 sq. ft. medical office/retail building; C‑2 Shopping Center District zoning (Village of Depew); Adjacent to a new O’Reilly Auto Parts location
