Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    6230 Shimer Dr Lockport, NY 14094-6402

    • Drive through restaurants
    • 3,360 SF
    • 1.60 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2024
    $490,000
    Value Estimations
    $490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3227112
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 6230 Shimer Dr

    Year built
    1997
    Lot size
    1.60 lot acres
    Property size
    3,360 SF
    Zone code
    B-1
    Property type
    Drive through restaurants
    APN
    292600 123.13-3-8.5
    APU
    29260012313385

    Description

    This exceptional investment opportunity presents a vacant 3,360 square foot restaurant building situated on a 1.6-acre lot at 6230 Shimer Drive in Lockport, New York. The property, built in 1995, is classified as a Class B retail space and is currently available for lease, with a three-year lease commencing October 1st, 2024. The asking price for the entire property is $720,000. Located in Niagara County, NY, with a zip code of 14094, this restaurant boasts a highly desirable location near Transit Road, benefiting from excellent retail amenities and strong demographics. The spacious layout offers significant potential for a variety of culinary concepts. The property's size and location make it an attractive proposition for both established restaurant operators and new ventures seeking a prime location in a thriving community. This is a rare chance to acquire a well-positioned restaurant property in a high-traffic area with significant growth potential. The vacant status allows for complete customization to suit the buyer's specific needs and vision. Serious inquiries are encouraged to explore this lucrative investment opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $490,000
      ML approach
      $490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $453,000
      Market price range: $111k - $475k
      AI Estimate
      $484,000
      Market price range: $287k - $484k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.6935
    Latitude
    43.1457
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $160,000
    $390,000
    $550,000
    -
    $160,000
    $390,000
    $550,000

    Comparable in this City

    • Value Estimation
      $305,000
      3,306 SF

      5727 Transit Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,306 SF
      5727 Transit Rd, Lockport, NY 14094-5864
      View Details
    • Value Estimation
      $315,000
      3,138 SF

      5737 Transit Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,138 SF
      5737 Transit Rd, Lockport, NY 14094-5892
      View Details
    • Value Estimation
      $265,000
      3,770 SF

      5780 Transit Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,770 SF
      5780 Transit Rd, Lockport, NY 14094-5812
      View Details
    • Value Estimation
      $255,000
      750 SF

      6501 Wheeler Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 750 SF
      6501 Wheeler Rd, Lockport, NY 14094
      View Details
    • Value Estimation
      $295,000
      2,909 SF

      5802 Transit Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,909 SF
      5802 Transit Rd, Lockport, NY 14094-5812
      View Details
    • Value Estimation
      $290,000
      2,599 SF

      5682 Transit Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,599 SF
      5682 Transit Rd, Lockport, NY 14094-5843
      View Details

    Similar Nearby for Sale

    • $349,000
      1,240 SF

      Lockport Retail Property For Sale

      Retail property featuring multiple drive-thru lanes and ample parking.
      118 Walnut St, Lockport, NY 14094
      View Details
    • $94,900

      Downtown Lockport Investment Opportunity

      Former Moose Lodge ideal for office, retail, or restaurant.
      4 Lock St, Lockport, NY 14094
      View Details
    • $309,000

      Turnkey Ice Cream Business Opportunity

      Established ice cream business for sale in Newfane, NY.
      6501 Wheeler Rd, Pendleton, NY 14094
      View Details
    • Contact for pricing

      Transit Road Commercial Acreage Available

      7.64 acres on Transit Road with existing structures.
      6856 Transit Rd, Pendleton, NY 14094
      View Details
    • $895,000
      9,650 SF

      Downtown Lockport Office Building

      Two-story office building in the heart of Lockport.
      133-135 Main St, Lockport, NY 14094
      View Details
    • $199,999
      1,376 SF

      Retail Building in Downtown Lockport

      Retail building for sale adjacent to the Erie Canal.
      55 Lock St, Lockport, NY 14094
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,800 SF

      Lockport Retail Building - 5,800 SF

      Prime Lockport retail space, high visibility, ample parking.
      6640 Lincoln Ave, Lockport, NY 14094
      View Details
    • $9 SF/Yr
      7,000 SF

      Retail Space on Transit Street

      Retail space in Lockport's growing business corridor.
      282-312 S Transit St, Lockport, NY 14094
      View Details
    • $650,000

      Lockport Commercial Building For Rent

      Commercial building featuring storefronts and professional offices for rent.
      150 Washburn St, Lockport, NY 14094
      View Details
    • $12 SF/Yr

      Adaptable Commercial Units For Lease

      Spacious commercial units in high-visibility location, ideal for various businesses.
      6503 Campbell Blvd, Pendleton, NY 14094
      View Details
    • Contact for pricing
      51,300 SF

      Retail Space on Transit Road

      Retail property with high visibility and ample parking available for lease.
      5900 South Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing

      Lockport Retail Corridor Opportunity

      Retail and warehouse spaces available in Lockport shopping center.
      5897 S Transit Rd, Lockport, NY 14094
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6230 Shimer Dr
    Lockport, NY 14094-6402
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.