Auto Shop with Service
For Sale
Contact for pricing
Pending
3233 Lake Shore Rd, Buffalo, NY 14219
Auto shop with service bays, office, and waiting area.
Property Size1,890 SF
Days on Market1329
Property Features for 3233 Lake Shore Rd
General Information
Standard status
Pending
Size
1,890 SF
Property subtype
Retail
Zoning
M2
Building Details
Buildings
1
Units
1
Listing Agency:
Saperston Real Estate Corporation
Listed By:
Will Saperston · License #NYS 10311207117
(716) 847-1100
Source:
Crexi
Added: Jan 12, 2023
Changed: Aug 14
Last Checked: Sep 1 at 11:48AM
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 Saperston Real Estate Corporation
Investment Insights
Based on property information with market context.
This property features all-block construction and includes three service bays, a waiting area, an office, and a bathroom. The interior requires renovation. According to the zoning map, the property is zoned M2 Light Industrial. The property is environmentally clean. It benefits from a high Annual Average Daily Traffic (AADT) count of over 53,000. The property could be paired with vacant lots across the street. The building has a size of 1890 square feet.
Key Highlights
- High Annual Average Daily Traffic (AADT) of 53,000 +
- Zoning: M2 Light Industrial
- 3 Service Bays with waiting area, office, and bathroom
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
$18,410
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
4.09%
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%
$368,200
$368.2K
Cap Rate 7%
$263,000
$263.0K
Cap Rate 9%
$204,556
$204.6K
Market Conditions
NOI Build-Up for 1,890 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
$29.5K $15.60/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$26.3K $13.92/SF
− OpEx
−$7.9K −$4.17/SF
NOI
$18.4K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /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%
$368,200
Cap Rate 7%
$263,000
Cap Rate 9%
$204,556
Alternative Uses
Best Use
Retail
$263.0K
$230.1K – $306.8K
NOI $18,410 @ 7.0% cap · market cap 4.09%
Second Best
Industrial
$189.1K
$165.5K – $220.6K
NOI $13,238 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$454.5K
$397.7K – $530.3K
NOI $31,816 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Similar Off Market Nearby
- Lake Shore Truck — 310 Lake Ave, Buffalo, NY 14219
- Southside Trailer Service, Inc. — 310 Lake Ave, Blasdell, NY 14219
- Paul's Frame Shop — 144 Lake Ave, Blasdell, NY 14219
- First Place Auto — 3233 Lake Shore Rd, Buffalo, NY 14219
Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop with service bays, office, and waiting area.
Where is this auto shop located?
The property is located at 3233 Lake Shore Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: High Annual Average Daily Traffic (AADT) of 53,000 +; Zoning: M2 Light Industrial; 3 Service Bays with waiting area, office, and bathroom
