Flex Space with
For Sale
$975,000
Pending
9120 Main St, Clarence, NY 14031
Clear-span construction combines warehouse capacity with dedicated office accommodations and loading access.
Property Size12,404 SF
Days on Market43
Property Features for 9120 Main St
General Information
Standard status
Pending
Size
12,404 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Clear Span
Yes
Warehouse Space
11,000 SF
Office Build-Out
1,000 SF
Mezzanine
1,000 SF
Dock-High Doors
1
Taxes and HOA fees
Annual Taxes
$12,465
Building Details
Building Size
12,404 SF
Year Built
1988
Buildings
2
Stories
1
Listing Agency:
(716) 523-7323
Listed By:
Timothy P Boyle
(716) 523-7323
Source:
Elliman
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 31 at 7:30PM
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 Timothy P Boyle
Investment Insights
Based on property information with market context.
Located at 9120 Main St in Clarence, NY, this flex property combines an 11,000 SF warehouse with office components. The warehouse measures 80’ x 160’ and features clear-span construction, a 20’ ceiling height, one loading dock, and two 12’ x 12’ overhead doors. Approximately 1,000 SF of mezzanine office space is incorporated into the building, which was constructed in 1988.
A separate 2,000 SF office building, converted from residential use, provides additional administrative space or the possibility of separate occupancy. The property also includes excess land that can support parking expansion or future development. The separate office building dates to 1948. Traffic at the location is reported at 13,000 AADT.
A separate 2,000 SF office building, converted from residential use, provides additional administrative space or the possibility of separate occupancy. The property also includes excess land that can support parking expansion or future development. The separate office building dates to 1948. Traffic at the location is reported at 13,000 AADT.
Key Highlights
- 11,000 SF warehouse with 80’ x 160’ footprint
- 20’ ceiling height and clear‑span construction
- One loading dock and two 12’ x 12’ overhead doors
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
$71,312
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
7.31%
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%
$1,426,240
$1.4M
Cap Rate 7%
$1,018,743
$1.0M
Cap Rate 9%
$792,356
$792.4K
Market Conditions
NOI Build-Up for 12,404 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
$117.6K $9.48/SF
− Vacancy
−$7.9K −$0.64/SF
EGI
$109.7K $8.84/SF
− OpEx
−$38.4K −$3.10/SF
NOI
$71.3K $5.75/SF
Area
Erie County, NY
Vacancy
6.70%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,426,240
Cap Rate 7%
$1,018,743
Cap Rate 9%
$792,356
Alternative Uses
Best Use
Office B
$2.22M
$1.94M – $2.59M
NOI $155,431 @ 7.0% cap · market cap 15.94%
Second Best
Flex RnD
$1.02M
$891.4K – $1.19M
NOI $71,312 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,811 @ 7.0% cap · market cap 19.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14031, NY
9,983
Population
4,539
Households
2.2
Avg Household Size
51
Median Age
51%
College-Educated
98%
High-School Grad
19.4 sq mi
ZIP Area
515
Density / Sq Mi
$99,639
Median Household Income
$59,366
Median Earnings
$930
Median Rent
$324,700
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?
Flex space - Clear-span construction combines warehouse capacity with dedicated office accommodations and loading access.
Where is this flex space located?
The property is located at 9120 Main St Clarence, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 11,000 SF warehouse with 80’ x 160’ footprint; 20’ ceiling height and clear‑span construction; One loading dock and two 12’ x 12’ overhead doors
