Warehouse Property with Showroom
For Sale
$2,500,000
960 French Road, Cheektowaga, NY 14043
Multi-level warehouse facility with substantial showroom, mezzanine, loading, and on-site residential improvements.
Property Size21,820 SF
Lot Size5.70 Acres
Price / SF$114.57
Days on Market90
Property Features for 960 French Road
General Information
Standard status
Active
Size
21,820 SF
Lot size
5.70 Acres
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
4,000 SF
Mezzanine
19,820 SF
Dock-High Doors
5
Drive-In Doors
2
Amenities
truck docks
grade doors
Building Details
Building Size
21,820 SF
Buildings
2
Listing Agency:
Buffalo Office
(716) 852-7500
Listed By:
David L. Schiller, SIOR
(716) 852-7500
Source:
Pyramidbrokerage
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 12:56PM
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 Buffalo Office
Investment Insights
Based on property information with market context.
This warehouse property includes 37,000 SF of first-floor space and a 19,820 SF mezzanine, creating a multi-level commercial layout. A dedicated 4,000 SF warehouse area offers 20'-25' clear height, while the balance of the building ranges from 11.5'-13.5' clear. Loading infrastructure includes five truck docks and two grade-level doors. A separate 1,500 SF house on the site is included with the property.
The facility is located at 960 French Road in Cheektowaga, NY, with prominent industrial and retail tenants surrounding the property. The configuration is suited to warehouse operations, large-format showroom use, building supply sales, contractor occupancy, and wholesale pallet liquidation.
The facility is located at 960 French Road in Cheektowaga, NY, with prominent industrial and retail tenants surrounding the property. The configuration is suited to warehouse operations, large-format showroom use, building supply sales, contractor occupancy, and wholesale pallet liquidation.
Key Highlights
- 37,000 SF first‑floor area plus 19,820 SF mezzanine
- 4,000 SF warehouse with 20'-25' clear height
- Five truck docks and two grade doors
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
$196,191
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
7.85%
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%
$3,923,820
$3.9M
Cap Rate 7%
$2,802,729
$2.8M
Cap Rate 9%
$2,179,900
$2.2M
Market Conditions
NOI Build-Up for 21,820 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
$314.2K $14.40/SF
− Vacancy
−$33.9K −$1.56/SF
EGI
$280.3K $12.84/SF
− OpEx
−$84.1K −$3.85/SF
NOI
$196.2K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$3,923,820
Cap Rate 7%
$2,802,729
Cap Rate 9%
$2,179,900
Alternative Uses
Best Use
Retail
$2.80M
$2.45M – $3.27M
NOI $196,191 @ 7.0% cap · market cap 7.85%
Second Best
Warehouse
$1.66M
$1.45M – $1.94M
NOI $116,285 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$4.77M
$4.17M – $5.56M
NOI $333,898 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Dock-high doors
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Multi-level warehouse facility with substantial showroom, mezzanine, loading, and on-site residential improvements.
Where is this warehouse located?
The property is located at 960 French Road Cheektowaga, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 37,000 SF first‑floor area plus 19,820 SF mezzanine; 4,000 SF warehouse with 20'-25' clear height; Five truck docks and two grade doors
