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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Showrooms
901 Main St, Niagara Falls, NY 14301-1109
Individually Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-0578491
Property summary
AI-generated overview
This exceptional investment opportunity presents a unique chance to acquire a piece of Niagara Falls history. The 52,203 square foot Armory, constructed in 1895, stands as a prominent landmark, instantly recognizable for its fortress-like design, including a striking three-story corner tower. This impressive structure is a well-known and cherished part of the city's landscape. The sale includes not only the Armory building itself but also four additional parcels of land, significantly expanding the potential for development and redevelopment. The property's substantial size and unique character offer a wide range of possibilities for adaptive reuse, creating exciting opportunities for innovative entrepreneurs and investors. Located at 901 Main Street, Niagara Falls, NY 14301, this property is situated in Niagara County, offering excellent visibility and accessibility. The asking price for this remarkable property is $2,000,000. This is a rare chance to own a piece of Niagara Falls' rich heritage and shape its future. The property's historical significance combined with its considerable size and multiple parcels presents a truly exceptional investment opportunity.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1885
Total area
38,293 SF
Lot
0.82 ac (35,550 SF)
Zoning code
C2-A
APN
291100 144.70-2-52
UPID
US63-0578491
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Niagara Falls Armory Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$980k
Owner & transaction history
Emery Simon · 17 yrs held
Emery Simon
since 2009
1 recorded transaction
Zoning & alternative use
C2-A · Niagara Falls, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.6M
+2.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niagara Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niagara Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,575,000
Current use
WAREHOUSE, STORAGE
$1,615,000
Change: +3% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,570,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$26 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$100,000
Assessed 2023
Previous assessed
$100,000
+0.0% YoY
Assessed land
$44,400
Assessed improvement
$55,600
Land market value
$82,229
Improvement market value
$102,971
Total market value
$185,200
Applied tax rate
291,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1885
Heating
NONE
Buildings
1
Stories
1
Total area
38,293 SF
Lot
0.82 ac (35,550 SF)
Zoning code
C2-A
APN
291100 144.70-2-52
UPID
US63-0578491
Jurisdiction
NIAGARA
Zoning & alternative use
C2-A · Niagara Falls, NY
Zoning C2-A · permitted uses
C2-A · Niagara Falls, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Niagara Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1885
Heating
NONE
Stories
1
Buildings
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Emery Simon
Individual
Free & Clear · 17 yrs held
Mailing address
755 CTR ST, LEWISTON, NY 14092-1756
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2009
$60,000
Emery Simon
State Of New York
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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