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    Property profile & analytics

    2082 George Urban Blvd Depew, NY 14043

    • Lifestyle centers
    • 230,000 SF
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sherwin-Williams Paint Store / Paint Store / Paintings Store

    Property Details for 2082 George Urban Blvd

    Property size
    230,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 230,000 square foot retail plaza, situated at 2082 George Urban Blvd in Depew, NY (Erie County), 14043, presents a compelling investment opportunity. Located in a densely populated suburban area of Buffalo, NY, this thriving shopping center boasts a strong tenant mix including Wegmans, Gabe's, Home Outlet, Erie County Department of Motor Vehicles, Sherwin Williams, and several other established businesses. Key Bank and Citizens Bank are conveniently located on outparcels, further enhancing the property's visibility and accessibility. The plaza is zoned D-S (Strip Retail) and offers a variety of available spaces ranging from 600 square feet to 13,340 square feet, with several combined space options totaling up to 11,875 square feet. A newly constructed 1,740 square foot turn-key salon space is available, complete with shampoo stations and cabinetry. Additionally, a significant development area of approximately 24,000 square feet presents further expansion potential. The property's prime location, strong tenant occupancy, and diverse space options make it an ideal investment for both established businesses and new ventures. Cross street is Dick Road.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Depew
    County
    Erie
    State
    New York
    Longitude
    -78.734
    Latitude
    42.919

    Comparable in this City

    • Value Estimation by Request
      257,599 SF

      2086-2122 George Urban Blvd

      Neighborhood centers • 257,599 SF
      2086-2122 George Urban Blvd, Depew, NY 14043
      View Details
    • Value Estimation
      $12,020,000
      126,434 SF

      4920 Transit Rd

      MINI-MALL • 126,434 SF
      4920 Transit Rd, Depew, NY 14043-4687
      View Details
    • Value Estimation
      $2,130,000
      80,680 SF

      2090 George Urban Blvd

      MINI-MALL • 80,680 SF
      2090 George Urban Blvd, Depew, NY 14043-1824
      View Details
    • Value Estimation
      $14,035,000
      150,228 SF

      4975 Transit Rd

      MINI-MALL • 150,228 SF
      4975 Transit Rd, Depew, NY 14043-4617
      View Details
    • Value Estimation
      $7,980,000
      89,605 SF

      4835 Transit Rd

      MINI-MALL • 89,605 SF
      4835 Transit Rd, Depew, NY 14043-4788
      View Details
    • Value Estimation by Request
      19,938 SF

      5150 Broadway

      SHOPPING CENTER, STRIP CENTER • 19,938 SF
      5150 Broadway, Depew, NY 14043-4021
      View Details

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    Similar Nearby for Lease

    • $10 SF/Yr
      230,000 SF

      Urbandale Plaza - Depew, NY

      230,000 SF Retail Plaza, High-Traffic Location
      2082 George Urban Blvd, Depew, NY 14043
      View Details
    • $10 SF/Yr
      257,599 SF

      Depew Retail Space For Lease

      Prime Retail Space, Multiple Units Available
      2086-2122 George Urban Blvd, Depew, NY 14043
      View Details
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      D&L Plaza Retail Space Available

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    • $14 SF/Yr
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      Supermarket Anchored Shopping Center Space

      Retail space available in a Wegmans-anchored shopping center.
      2090 George Urban Blvd, Depew, NY 14043
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    • $14 SF/Yr
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      Transit Road Depew Office Space

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      Depew Gym - Lease & Business

      Established Personal Training Gym For Sale
      6354 Transit Rd, Depew, NY 14043
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    Depew, NY 14043
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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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