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    10376 Bennett Rd Fredonia, NY 14063
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    10376 Bennett Rd Fredonia, NY 14063

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    • Warehouses
    • 26,600 SF
    For Lease
    $72 SF/Yr
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    Fredonia Redevelopment Opportunity For Lease
    $72 SF/Yr

    Fredonia Redevelopment Opportunity

    Prime Retail & Warehouse Space in NY

    10376 Bennett Rd, Fredonia, NY 14063
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 10376 Bennett Rd

    Year built
    1960
    Property size
    26,600 SF
    Property type
    Warehouses
    Property subtype
    Specialty properties

    Description

    This exceptional Fredonia, New York property presents a unique redevelopment opportunity encompassing 26,600 square feet of versatile space. Located at 10376 Bennett Rd, 14063, Chautauqua County, this single-story, 1960-built building offers a blend of retail and warehouse space ideal for multiple tenants. Currently undergoing revitalization, a new building facade is slated for completion in June 2024. The warehouse component totals 1,901 square feet, currently listed at $6 per square foot, while the retail space comprises 2,519 square feet, priced at $26 per square foot. This prime location boasts excellent visibility, ample parking, and pylon signage opportunities. The property benefits from a strategic position at the roundabout intersection of Bennett Road, East Main Street, and Route 60, ensuring high traffic flow and exposure. Existing co-tenants include O'Reilly Auto Parts, Firehouse Subs, a liquor store, and Ozone Smoke Shop, creating a vibrant commercial environment. Furthermore, its proximity to the SUNY Fredonia campus (2 miles away, with an enrollment of 3,236 students) presents a significant potential customer base. This property is classified as Retail, Industrial, and Special Purpose, with subtypes including Warehouse, Retail, Mixed Use, and Special Purpose.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fredonia
    County
    Chautauqua
    State
    New York
    Longitude
    -79.3086
    Latitude
    42.4518

    Comparable in this City

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      0.12 Acres

      29 White St Rear

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      156 Main St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 9,426 SF
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      Side Skinner Rd Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 480 SF
      Side Skinner Rd Rd, Fredonia, NY 14063
      View Details

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    Similar Nearby for Lease

    • $72 SF/Yr
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      Fredonia Redevelopment Opportunity

      Prime Retail & Warehouse Space in NY
      10376 Bennett Rd, Fredonia, NY 14063
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    • $425,000
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      Fredonia Commercial/Industrial Building For Lease

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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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