Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2701 Transit Rd Elma, NY 14059
    Property profile & analytics

    2701 Transit Rd, Elma, NY 14059

    View on Map
    • Office Spaces
    • 60,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lisa Balderman, LCSW-R / Psychotherapist
    • Prime Spine Associates / Alternative Medicine Practice
    • Dr. Adam M. McCrea / Alternative Medicine Practice
    • Dr. Ritu Sood / Pediatrician / Physician
    • General Physician PC - Women's Health Elma / Medical Clinic

    Property Details for 2701 Transit Rd

    Year built
    2012
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    Transit Commons Professional Park offers 60,000 square feet of Class A office space in four single-story buildings, conveniently located in Elma, NY, just a tenth of a mile from the Aurora Expressway (NY Route 400). Built in 2012 and renovated in 2021, this exceptional office park features 41 suites, with a minimum divisible space of 1,280 square feet and a maximum contiguous space of 1,280 square feet. The property caters to various office needs, including executive, medical, and traditional office spaces, making it ideal for a range of businesses. Enjoy the benefits of full-time on-site management, with Common Area Maintenance (CAM), taxes, and insurance included in the monthly rent. This is a fantastic opportunity to secure modern, efficient office space in a prime location, designed to accommodate your company's current and future growth. The flexible design allows for customization to meet specific business requirements. Contact us today to learn more about available spaces and leasing options within this exceptional office park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elma
    County
    Erie
    State
    New York
    Longitude
    -78.697
    Latitude
    42.8411

    Comparable in this City

    • Value Estimation by Request
      25,630 SF

      960 Maple Ct

      MEDICAL CLINIC
      960 Maple Ct, Elma, NY 14059-9397
      View Details
    • Value Estimation by Request

      2317 Bowen Rd

      Specialty properties
      2317 Bowen Rd, Elma Center, NY 14059
      View Details
    • Value Estimation
      $950,000
      8,386 SF

      2741 Transit Rd

      OFFICE BUILDING
      2741 Transit Rd, Elma, NY 14059-9045
      View Details
    • Value Estimation
      $1,710,000
      10,577 SF

      1600 Bowen Rd

      OFFICE BUILDING
      1600 Bowen Rd, Elma, NY 14059-9550
      View Details
    • Value Estimation by Request
      2,336 SF

      7615 Seneca St

      OFFICE BUILDING
      7615 Seneca St, Elma, NY 14059
      View Details
    • Value Estimation by Request
      2,620 SF

      6900 Seneca St

      PROFESSIONAL BUILDING
      6900 Seneca St, Elma, NY 14059-9522
      View Details

    Similar Nearby for Sale

    • $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
    • $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

    Similar Nearby for Lease

    • $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
    • $1,100 /Mo
      1,200 SF

      Elma Office Space For Rent

      Office suite for lease featuring updated mechanics and cosmetics.
      2901-4 Bowen Rd, 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
    • 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
    • $1,550 /Mo
      1,780 SF

      Elma, NY Commercial Office

      Office unit with multiple rooms, private entrances, and updated features.
      2901-1 Bowen Rd, 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
    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.
    2701 Transit Rd
    Elma, 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
    2701 Transit Rd, Elma, 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!