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    5946 Lk Shr Rd Lake View, NY 14085

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    5946 Lk Shr Rd Lake View, NY 14085

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    • Retail properties & Spaces
    • 2,850 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 5946 Lk Shr Rd

    Year built
    1965
    Property size
    2,850 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This exceptional retail property, located at 5946 Lake Shore Rd in Lake View, NY 14085, presents a unique investment opportunity. The 2,850 square foot building, constructed in 1965, is currently vacant and offers significant potential for a new owner-user. Previously operating as a long-established pizzeria and convenience store with an ice cream parlor, the property boasts a rich history and strong location on a high-traffic street. The sale includes all existing equipment. The property features ample parking with 29 spaces, as evidenced by an attached survey. Financial records are available upon request, demonstrating a history of solid performance. This is an ideal opportunity for an owner-operator seeking a turnkey business with established customer base and potential for growth. The building's convenient location in Erie County, New York, provides easy access to a large customer base. The seller will provide training and support to ensure a smooth transition for the new owner. This is a rare chance to acquire a well-established business and prime retail space in a desirable location. The asking price for this property is $300,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake View
    County
    Erie
    State
    New York
    Longitude
    -78.9322
    Latitude
    42.7234

    Comparable in this City

    • Value Estimation by Request
      1,280 SF

      5357 Old Lk Shr Rd

      GROCERY, SUPERMARKET • 1,280 SF
      5357 Old Lk Shr Rd, Lake View, NY 14085-9754
      View Details
    • Value Estimation
      $640,000
      4,220 SF

      6550 Southwestern Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,220 SF
      6550 Southwestern Blvd, Lake View, NY 14085-9998
      View Details
    • Value Estimation
      $920,000
      6,321 SF

      1986 Lakeview Rd

      BAR, TAVERN • 6,321 SF
      1986 Lakeview Rd, Lake View, NY 14085-9303
      View Details
    • Value Estimation
      $585,000
      3,811 SF

      2293 Pleasant Ave

      BAR, TAVERN • 3,811 SF
      2293 Pleasant Ave, Lake View, NY 14085-9646
      View Details
    • Value Estimation by Request
      403.40 Acres

      2342 Pleasant Ave

      MINING, MINERAL, QUARRIES • 403.40 Acres
      2342 Pleasant Ave, Lake View, NY 14085-9647
      View Details
    • Value Estimation
      $2,775,000
      9,769 SF

      5959 Versailles Rd

      OFFICE BUILDING • 9,769 SF
      5959 Versailles Rd, Lake View, NY 14085-9649
      View Details

    Similar Nearby for Sale

    • $300,000

      Pizzeria and Convenience Store Opportunity

      Established pizzeria and convenience store with real estate and equipment.
      5946 Lake Shore Rd, Lakeview, NY 14085
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    • $259,900
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    Lake View, NY 14085
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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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