Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2317 Bowen Rd Elma Center, NY 14059
    Back to Search
    Property profile & analytics

    2317 Bowen Rd, Elma Center, NY 14059

    View on Map
    • Specialty properties
    • 10,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Elma Village Shopping Center / Business Service Center / Corporate Office
    • FedEx Drop Box / Postal Service / Courier Service
    • Jennifer Cole / Pharmacy
    • Deanna Macie / Pharmacy
    • Cy's Elma Pharmacy / Pharmacy

    Property Details for 2317 Bowen Rd

    Year built
    2023
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    Elma Plaza offers an exceptional opportunity for businesses seeking a brand-new, Class A retail or special purpose space. This single-story, 10,000 square foot building, situated on a 2-acre lot, is currently entirely vacant and available for lease. Construction is scheduled to begin in Spring 2023, with completion and occupancy anticipated for Summer 2023. The property boasts flexible build-to-suit options, accommodating spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 10,000 square feet. The building is powered by electricity and is zoned for Commercial, Retail, and Office uses. Its convenient location, near Bullis Street, makes it highly accessible. This is a unique chance to secure a modern, adaptable space in a desirable location, perfectly suited for a variety of retail or special purpose businesses. Don't miss this opportunity to establish your presence in this newly constructed, high-quality building. Contact us today to reserve your space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elma Center
    County
    State
    New York
    Longitude
    -78.6328
    Latitude
    42.7901

    Comparable in this City

    • Value Estimation by Request

      2317 Bowen Rd

      Specialty properties
      2317 Bowen Rd, Elma Center, NY 14059
      View Details
    • Value Estimation by Request

      Elma, NY 14059

      SBE - SPECIAL ASSESSMENTS
      Elma, NY 14059
      View Details
    • Value Estimation by Request
      2,860 SF

      121 Pound Rd

      VETERINARY, ANIMAL HOSPITAL
      121 Pound Rd, Elma, NY 14059-9680
      View Details
    • Value Estimation by Request

      Elma, NY 14059

      SBE - SPECIAL ASSESSMENTS
      Elma, NY 14059
      View Details
    • Value Estimation by Request

      Elma, NY 14059

      SBE - SPECIAL ASSESSMENTS
      Elma, NY 14059
      View Details
    • Value Estimation by Request

      Elma, NY 14059

      SBE - SPECIAL ASSESSMENTS
      Elma, NY 14059
      View Details

    Similar Nearby for Sale

    • $200,000
      2.40 Acres

      Secluded Buildable Lot in Elma

      2.4 acre lot in Elma, utilities at site.
      1210 Rice Rd, Elma, NY 14059
      View Details
    • Contact for pricing

      Elma Commercial Land Opportunity

      2.8 acre commercial lot on Transit Road, Elma, NY.
      Vl Transit Rd, Elma, NY 14059
      View Details
    • $699,000
      6,450 SF

      Firehouse Square Mixed-Use Facility

      Multi-use facility with office suites and residential apartments for sale.
      2901 Bowen Rd, Elma, NY 14059
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      High-Visibility Corner Retail/Automotive Space

      Prime location with high ceilings and easy highway access.
      5710 Seneca St, Elma, NY 14059
      View Details
    • Contact for pricing

      Elma Plaza Retail/Office Space

      1560 sq ft retail or office space in Elma.
      2317 Bowen Rd, Elma, NY 14059
      View Details
    • $3,500 /Mo

      Updated Office Space For Rent

      Newly updated office space in Elma, turn-key ready.
      5763 Seneca St, Elma, NY 14059
      View Details
    • $2,500 /Mo
      2,860 SF

      Elma Office Suites For Lease

      Exceptional office suites available for lease in Elma, New York.
      2901-3 Bowen Rd, Elma, NY 14059
      View Details
    • $1,200 /Mo
      1,080 SF

      Elma, NY Commercial Space

      Office suite for lease in Elma, NY with updated features.
      2901-2 Bowen Rd, Elma, NY 14059
      View Details
    • Contact for pricing
      1,280 SF

      Professional Office Space Available

      Turnkey office spaces available for rent with build-to-suit options.
      2701 Transit Rd, Elma, NY 14059
      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.
    2317 Bowen Rd
    Elma Center, NY 14059
    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
    2317 Bowen Rd, Elma Center, NY, 14059
    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!