Listing Agency: Howard Hanna WNY Inc. l***@howardhanna.com Show Phone

Listed By: Laura Rupp Show Phone

Source: Exprealty

Added: Aug 28, 2025 Changed: Aug 20 Last Checked: Aug 21 at 1:05PM

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Investment Insights

Based on property information with market context.

This brand-new light industrial building offers approximately 4,000 SF of versatile workspace, supported by a small office and bathroom for day-to-day operations. The property includes a newly installed septic system and paved parking surrounding the building.

Set on 5.2 acres, the site provides room for growth and future development. The location offers easy access to major highways and transportation routes.

With its recently completed improvements and functional buildout for light industrial use, the property presents a straightforward acquisition for an owner-operator or business seeking a new facility with on-site support space.

Key Highlights

• Brand‑new light industrial building offering 4,000 SF of versatile space
• Set on 5.2 acres with room for expansion and future development
• Includes a small office and bathroom for added convenience

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

$22,997

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

2.97%

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%

$459,940 $459.9K

Cap Rate 7%

$328,529 $328.5K

Cap Rate 9%

$255,522 $255.5K

Market Conditions

NOI Build-Up for 4,000 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

$37.9K $9.48/SF

− Vacancy

−$2.5K −$0.64/SF

EGI

$35.4K $8.84/SF

− OpEx

−$12.4K −$3.10/SF

NOI

$23.0K $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%

$459,940

Cap Rate 7%

$328,529

Cap Rate 9%

$255,522

Alternative Uses

Best Use

Flex RnD

$328.5K

$287.5K – $383.3K (±1% cap)

NOI $22,997 @ 7.0% cap · market cap 2.97%

Second Best

Industrial

$250.8K

$219.4K – $292.6K (±1% cap)

NOI $17,555 @ 7.0% cap · market cap 2.27%

Theoretical Best

Office A

$874.4K

$765.1K – $1.02M (±1% cap)

NOI $61,210 @ 7.0% cap · market cap 7.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Law Firm Parking Lot & Garage Pharmacy Electrical Service Storage Facility Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

36

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 14032, NY

9,368

Population

3,936

Households

2.4

Avg Household Size

43

Median Age

58%

College-Educated

96%

High-School Grad

23.9 sq mi

ZIP Area

392

Density / Sq Mi

$160,079

Median Household Income

$71,973

Median Earnings

$1,837

Median Rent

$483,500

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Brand-new light industrial building with small office, bathroom, paved parking, and a new septic system on 5.2 acres.

Where is this flex space located?

The property is located at 9367 County Rd Clarence Ctr, NY.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: Brand‑new light industrial building offering 4,000 SF of versatile space; Set on 5.2 acres with room for expansion and future development; Includes a small office and bathroom for added convenience