Industrial Building on 3
For Sale
Contact for pricing
592 Aero Dr, Buffalo, NY 14225
5,840 SF industrial building on a 3-acre lot.
Property Size5,840 SF
Lot Size3.00 Acres
Price / SF$162.67
Days on Market1901
Property Features for 592 Aero Dr
General Information
Standard status
Active
Size
5,840 SF
Lot size
3.00 Acres
Property subtype
Industrial
Building Details
Buildings
1
Listing Agency:
Saperston Real Estate Corporation
Listed By:
Howard Saperston · License #NY 31SA0006629
(800) 879-7541
Source:
Crexi
Added: Jul 1, 2021
Changed: Sep 7
Last Checked: Sep 13 at 6:30AM
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 Saperston Real Estate Corporation
Investment Insights
Based on property information with market context.
The property at 592 Aero Drive in Cheektowaga is available for sale. This industrial building offers 5,840 square feet of space on a 3-acre lot. The building features 18' clearance and a clear span design. It includes two 14' doors and 220 3-phase power. The property also contains 2,000 square feet of office space, an oil and water separator, and 6" floors with drains. The zoning is Industrial.
Key Highlights
- 5,840 sf building on 3 acres of land zoned Industrial
- Clear span construction with 18' clearance
- Two 14' ft. doors** for easy access
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
$49,671
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
5.23%
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%
$993,420
$993.4K
Cap Rate 7%
$709,586
$709.6K
Cap Rate 9%
$551,900
$551.9K
Market Conditions
NOI Build-Up for 5,840 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
$59.6K $10.20/SF
− Vacancy
−$1.1K −$0.19/SF
EGI
$58.4K $10.01/SF
− OpEx
−$8.8K −$1.50/SF
NOI
$49.7K $8.51/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$993,420
Cap Rate 7%
$709,586
Cap Rate 9%
$551,900
Alternative Uses
Best Use
Warehouse
$709.6K
$620.9K – $827.9K
NOI $49,671 @ 7.0% cap · market cap 5.23%
Second Best
Industrial
$584.4K
$511.3K – $681.8K
NOI $40,905 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,308 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Buffalo, NY
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Similar Off Market Nearby
- Eaton Office Supply Co., Inc. — 55 amherst villa rd, buffalo, ny 14225
- Mr. Bill's Storage — 385 Lawrence Bell Dr, Williamsville, NY 14221
Frequently Asked Questions
What type of property is this?
Warehouse - 5,840 SF industrial building on a 3-acre lot.
Where is this warehouse located?
The property is located at 592 Aero Dr Buffalo, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5,840 sf building on 3 acres of land zoned Industrial; Clear span construction with **18' clearance**; Two 14' ft. doors** for easy access
