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    6071 Robinson Rd Lockport, NY 14094

    Sponsored
    For Sale
    $249,900

    2.6-Acre Commercial/Residential Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 2.6-acre development site in Lockport, NY, presents a unique investment opportunity. Located on Robinson Road, between Transit Road and Bypass Road, this property boasts excellent visibility and convenient access to major thoroughfares. The site is zoned for both commercial and residential uses, offering considerable flexibility for a variety of projects. Permitted uses include auto sales and service, retail establishments, offices, restaurants, banks, and more. The flat, 2.6-acre parcel features approximately 324 feet of frontage and 363 feet of depth, providing ample space for development. Its prime location offers proximity to numerous amenities, including Walmart, Tops Supermarket, Aldi, and various restaurants and retail stores. The property's strategic position, approximately four miles north of Amherst and the Erie County border, ensures high traffic volume and strong potential for return on investment. This is an exceptional opportunity to acquire a sizable, versatile development site in a thriving area of Lockport. The asking price is $249,900. The property's address is 6071 Robinson Rd, Lockport, NY 14094.

    Property Features for 6071 Robinson Rd

    General Information

    Property type
    Land
    Lot Size
    113,256 SF

    HighLights

    • 2.6‑acre development site available in Lockport, NY.
    • Zoned for commercial and residential use.
    • Excellent visibility and convenient access to major thoroughfares.
    • Large, flat lot with approximately 324' x 363' dimensions.
    • $249,900 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage 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
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.7035007
    Latitude
    43.1332994

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    FAQs

    What type of property is this?
    Land - 2.6-Acre Commercial/Residential Land
    Where is this land located?
    The property is located at 6071 Robinson Rd Lockport, NY.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: 2.6-acre development site available in Lockport, NY.; Zoned for commercial and residential use.; Excellent visibility and convenient access to major thoroughfares.
    (716) 834-7777
    Request Owner's contact information
    6071 Robinson Rd Lockport, NY 14094
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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.

    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
    6071 Robinson Rd Lockport, NY 14094
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