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    27 Franklin St Springville, NY 14141

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    For Lease
    Contact for pricing

    8,000 SF Available in Springville, NY

    Lot size:
    18,589 SF

    Property Features for 27 Franklin St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,589 SF
    Class
    C
    Total Rate
    22461.71

    Building Details

    Year Built
    1964

    Spaces For Lease

    at 27 Franklin St, Springville, NY 14141 Contact us
    Unit Available

    $14 /Mo

    Size
    8,000 SF
    Contact us

    We can help!

    Listing Contact
    Heidi Nuessle
    Heidi Nuessle

    Listing Agency: HUNT Commercial Listing Agent: Heidi Nuessle

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional medical office opportunity is located in the Spring Creek Professional Mall at 27 Franklin Street, Springville, NY, within Erie County. The property, a Class C building constructed in 1964, offers a total of 18,589 square feet, with 8,000 square feet currently vacant and available for lease. The space is ideal for a single tenant seeking a significant footprint in a well-established medical center. Suite sizes range from 1,000 to 5,000 square feet, with the potential for expansion up to the full 8,000 square feet of vacant space. This presents a unique chance to customize the space to meet specific operational needs. The property boasts abundant on-site parking, a significant advantage for both staff and patients. Its convenient location offers easy access to a variety of nearby retail and restaurant options, enhancing the overall convenience and appeal for employees and clients alike. This is a single-tenant occupancy building, providing a private and controlled environment. The property's existing infrastructure provides a solid foundation for a thriving medical practice. The opportunity to secure a substantial space in a well-situated medical center makes this a highly attractive proposition for medical professionals seeking to establish or expand their practice.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nicholas Lloyd Cromwell Physician Spectrum Human Services ... Medical Clinic Spring Creek Professional ... Medical Clinic Therapy Sports Rehab ... Physician Monica Balon Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springville
    County
    Erie
    State
    New York
    Longitude
    -78.6640054
    Latitude
    42.509681

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    FAQs

    What type of property is this?
    Medical office - 8,000 SF Available in Springville, NY
    Where is this medical office located?
    The property is located at 27 Franklin St Springville, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 18,589 SF medical office building in Erie County.; Single-tenant occupancy with 8,000 SF currently vacant.; Class C building constructed in 1964.
    (716) 880-1917 Call to check price and availability
    Request Owner's contact information
    27 Franklin St Springville, NY 14141
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    Springville, NY 14141
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    27 Franklin St Springville, NY 14141
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Heidi Nuessle
    Heidi Nuessle
    Real Estate License ID: 10301212311
    (716) 880-1917 (716) 983-3202 (716) 854-5943
    Learn more
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