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    10376 Bennett Rd Fredonia, NY 14063

    Sponsored
    For Lease
    $72 SF/Yr

    Prime Retail & Warehouse Space in NY

    Lot size:
    26,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional Fredonia, New York property presents a unique redevelopment opportunity encompassing 26,600 square feet of versatile space. Located at 10376 Bennett Rd, 14063, Chautauqua County, this single-story, 1960-built building offers a blend of retail and warehouse space ideal for multiple tenants. Currently undergoing revitalization, a new building facade is slated for completion in June 2024. The warehouse component totals 1,901 square feet, currently listed at $6 per square foot, while the retail space comprises 2,519 square feet, priced at $26 per square foot. This prime location boasts excellent visibility, ample parking, and pylon signage opportunities. The property benefits from a strategic position at the roundabout intersection of Bennett Road, East Main Street, and Route 60, ensuring high traffic flow and exposure. Existing co-tenants include O'Reilly Auto Parts, Firehouse Subs, a liquor store, and Ozone Smoke Shop, creating a vibrant commercial environment. Furthermore, its proximity to the SUNY Fredonia campus (2 miles away, with an enrollment of 3,236 students) presents a significant potential customer base. This property is classified as Retail, Industrial, and Special Purpose, with subtypes including Warehouse, Retail, Mixed Use, and Special Purpose.

    Property Features for 10376 Bennett Rd

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    26,600 SF
    Total Rate
    159600

    Building Details

    Year Built
    1960
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space A
    Size
    1,910 SF
    Rate per SF
    $72
    Space
    Available Space C
    Size
    2,519 SF
    Rate per SF
    $312

    We can help!

    Listing Contact
    Janell Vanegas
    Janell Vanegas

    Learn more

    HighLights

    • Strong co‑tenancy with O'Reilly Auto Parts, Firehouse Subs, Liquor Store, and Ozone Smoke Shop.
    • High visibility location at the Bennett Road, E. Main Street, and Route 60 roundabout.
    • Excellent visibility and ample parking with pylon signage.
    • Two miles from SUNY Fredonia, a 3,236‑student campus.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fredonia
    County
    Chautauqua
    State
    New York
    Longitude
    -79.3085906
    Latitude
    42.4517519

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      Retail Space Near SUNY Fredonia

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    FAQs

    What type of property is this?
    Distribution property - Prime Retail & Warehouse Space in NY
    Where is this distribution property located?
    The property is located at 10376 Bennett Rd Fredonia, NY.
    What is the lease rate?
    The lease rate is $72-$312 SF/Yr.
    What are key features of this property?
    This property features: Strong co-tenancy with O'Reilly Auto Parts, Firehouse Subs, Liquor Store, and Ozone Smoke Shop.; High visibility location at the Bennett Road, E. Main Street, and Route 60 roundabout.; Excellent visibility and ample parking with pylon signage.
    Request Owner's contact information
    10376 Bennett Rd Fredonia, NY 14063
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    Fredonia, NY 14063
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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
    10376 Bennett Rd Fredonia, NY 14063
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    We can help!
    Listing Contact
    Janell Vanegas
    Janell Vanegas
    Real Estate License ID: NY 10491205280
    Learn more
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