Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1505-1517 Cleveland Dr Cheektowaga, NY 14225

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1505-1517 Cleveland Dr Cheektowaga, NY 14225

    View on Map
    • Office properties & Spaces
    • 3,780 SF
    • 0.24 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1505-1517 Cleveland Dr

    Year built
    1968
    Lot size
    0.24 lot acres
    Property size
    3,780 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 3,780 square foot, single-story office building is situated on a 0.24-acre lot in Cheektowaga, NY, at 1505-1517 Cleveland Drive, zip code 14225. The property, built in 1968 and zoned C, features 16 paved parking spaces and is conveniently located across from the Buffalo-Niagara International Airport and approximately half a mile north of the Kensington Expressway (NY 33), and about a mile south of Main Street, Williamsville. This free-standing corner building boasts a recent exterior refresh including plumbing updates, parking lot striping, and two new rooftop HVAC units. For added peace of mind, a whole-building backup generator is included. The property also includes an exterior digital display sign, perfect for advertising. The building has a history of successful occupancy, having served as the home of Computer SOS, Inc. for over 30 years. Available for occupancy on May 28, 2024, this Class B, NNN lease property is priced at $425,000 ($112.43/sq ft). This presents a unique opportunity for a business seeking a well-maintained, conveniently located office space with ample parking and modern amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7448
    Latitude
    42.9414

    Comparable in this City

    • Value Estimation by Request

      3022 Genesee St

      Office Units
      3022 Genesee St, Cheektowaga, NY 14225
      View Details
    • Value Estimation by Request
      62,715 SF

      4950 Genesee St

      Flex space • 62,715 SF
      4950 Genesee St, Cheektowaga, NY 14225
      View Details
    • Value Estimation by Request

      3028 Genesee St

      Office Units
      3028 Genesee St, Cheektowaga, NY 14225
      View Details
    • Value Estimation by Request
      50,000 SF

      2570 Walden Ave

      Medical Office Space • 50,000 SF
      2570 Walden Ave, Cheektowaga, NY 14225
      View Details
    • Value Estimation by Request
      0.76 Acres

      3527 Harlem Rd

      Office Units • 0.76 Acres
      3527 Harlem Rd, Cheektowaga, NY 14225
      View Details
    • Value Estimation by Request
      63,532 SF

      1680 Walden Ave

      Office properties & Spaces • 63,532 SF
      1680 Walden Ave, Cheektowaga, NY 14225
      View Details

    Similar Nearby for Sale

    • $1,000,000
      11,808 SF

      Buffalo Office Building For Sale

      Office building with 11,808 square feet of space available.
      45 Anderson Rd, Buffalo, NY 14225
      View Details
    • $299,900

      Single-Story Office Building for Sale

      Well-maintained office building with 19 offices and ample parking.
      505 Aero Dr, Cheektowaga, NY 14225
      View Details
    • $899,999

      Harlem Road Office Building For Sale

      Office and mixed-use building with high visibility and 100% occupancy.
      3435 Harlem Rd, Cheektowaga, NY 14225
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,000 SF

      High-Traffic Corner Office Space

      Office space for lease with high visibility and ample parking.
      5100 Genesee St, Buffalo, NY 14225
      View Details
    • $12 SF/Yr

      First Floor Office Space Available

      Office spaces available in a high-visibility location with ample parking.
      4245 Union Rd, Buffalo, NY 14225
      View Details
    • $7 SF/Yr
      52,917 SF

      Industrial Space Near Buffalo Airport

      52,917 sq ft industrial space near Buffalo Airport.
      4039 Genesee St, Buffalo, NY 14225
      View Details
    • Contact for pricing

      Transit Road Retail/Office Space

      High-traffic retail/office space available on Transit Road.
      6348 Transit Rd, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Walden Avenue Office Space Available

      Office space for rent with private entrance and parking.
      1680 Walden Ave, Cheektowaga, NY 14225
      View Details
    • $12 SF/Yr
      1,000 SF

      Modern Office Space Available

      Well-maintained office space with modern facilities and ample parking.
      305 Cayuga Rd, Buffalo, NY 14225
      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.
    1505-1517 Cleveland Dr
    Cheektowaga, NY 14225
    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

    Thank You for Inquiry

    1505-1517 Cleveland Dr, Cheektowaga, NY, 14225

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!