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    Retail/Office Space on Heavily Trafficked Intersection Title is generated by Realmo AI

    5102 Genesee St, Cheektowaga, NY 14225

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    Retail and office spaces available for lease with high visibility.

    Type:Retail, Office
    Property size:
    2,000 SF
    Added:
    May 3, 2023
    Days on Market:
    1129
    Last Refresh:
    May 12 at 8:02 pm

    Property Features for 5102 Genesee St

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    2007

    Spaces For Lease

    at 5102 Genesee St Contact us

    Available Space $18/Mo

    Size
    Type
    Retail, Office
    18.00
    Contact us

    We can help!

    Listing Contact
    Rick Recckio

    Listing agent Rick Recckio License #NY 31RE0821429

    Listing office Recckio Real Estate and Development Williamsville

    Listing date May 3, 2023

    Source Crexi

    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 Recckio Real Estate and Development Williamsville

    HighLights

    • High‑traffic location at the intersection of Transit Road (32,900+\/- cars daily) and Genesee Street (28,200+\/- cars daily).
    • Two spaces available: a 1,200 +\/- SF turn‑key ready space and a 2,000 +\/- SF gutted end‑cap space ready for build‑out.
    • Excellent visibility with 135'+\/- frontage on Transit Road and 220'+\/- frontage on Genesee Street.
    • Easy access with curb cuts on both Transit Road and Genesee Street.
    • Ample parking available.
    • Owner‑provided contractors available to design the 2,000 +\/- SF space to specific business requirements; bathrooms will be installed to code by the owner.

    Overview

    Available for lease are spaces of approximately 1,200 square feet and 2,000 square feet, situated at a heavily trafficked intersection in Erie County, NY. The end cap space, measuring approximately 2,000 square feet, is completely gutted and ready for build-out, with pre-chosen contractors available to design the space according to business or floorplan requirements. The owner will install bathrooms to meet all codes. The 1,200 square foot space, located in the middle of the plaza, is turn-key ready for any business. The property benefits from excellent visibility and ample parking. Transit Road experiences a daily traffic count of approximately 32,900 cars, while Genesee Street sees approximately 28,200 daily cars. The building features approximately 135 feet of frontage on Transit Road and approximately 220 feet of frontage on Genesee, with curb cuts on both roads providing easy access to the plaza. The property is suitable for retail and office use.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.6976641
    Latitude
    42.9381665

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    FAQs

    What type of property is this?
    Retail space - Retail and office spaces available for lease with high visibility.
    Where is this retail space located?
    The property is located at 5102 Genesee St Cheektowaga, NY.
    What is the lease rate?
    The lease rate is $216 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location at the intersection of Transit Road (32,900+\/- cars daily) and Genesee Street (28,200+\/- cars daily).; Two spaces available: **a 1,200 +\/- SF turn‑key ready space and a 2,000 +\/- SF gutted end‑cap space ready for build‑out.**; **Excellent visibility with 135'+\/- frontage on Transit Road and 220'+\/- frontage on Genesee Street.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rick Recckio
    Real Estate License ID: NY 31RE0821429
    Learn More
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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
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