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    9971 Ny-16 Delevan, NY 14042
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    9971 Ny-16, Delevan, NY 14042

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    • Retail properties & Spaces
    • 1,280 SF
    • 2.02 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 9971 Ny-16

    Year built
    1970
    Lot size
    2.02 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional retail opportunity presents a 1,280 square foot vacant storefront situated on a 2.02-acre lot along Route 16 in the Lime Lake cottage district of Delevan, New York. Conveniently located just 8 miles north of Franklinville and 4 miles south of Delevan, this property boasts approximately 5,000 cars in daily traffic count. The building, constructed in 1970 and extensively renovated in 2022, is in excellent condition. Recent improvements include a new Heil 2-stage forced air furnace, a modern water filtration system, and exterior facade upgrades. The interior layout, previously configured as a convenience store, features walk-in coolers, a three-bay sink, a utility room, a bathroom, and a spacious sales area. While fuel canopy/equipment has been removed, the property includes a 0.66-acre pond. Utilities are readily available, with electric and gas service on-site, along with a water well and public sewer system. The property is zoned for commercial use and offers significant potential for various retail ventures. The asking price is $135,000, translating to $105.47 per square foot. This is a value-add investment opportunity with ample space for further development. The Hawley Development Corporation is the current owner and is offering the property for sale.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Delevan
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4804
    Latitude
    42.4337

    Comparable in this City

    • Value Estimation
      $1,125,000
      9,100 SF

      10011 Rte 16

      RETAIL STORES (PERSONAL SERVICES)
      10011 Rte 16, Delevan, NY 14042-9420
      View Details
    • Value Estimation by Request
      0.21 Acres

      63 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD
      63 Main St, Delevan, NY 14042-9502
      View Details
    • Value Estimation by Request
      222 SF

      10924 Rte 16

      RESTAURANT
      10924 Rte 16, Delevan, NY 14042-9413
      View Details
    • Value Estimation by Request
      2,250 SF

      3198 Elton Rd

      BAR, TAVERN
      3198 Elton Rd, Delevan, NY 14042
      View Details
    • Value Estimation by Request
      1.08 Acres

      51 Main St

      BAR, TAVERN
      51 Main St, Delevan, NY 14042-9502
      View Details
    • Value Estimation by Request
      1.04 Acres

      11851 Rte 16

      RESTAURANT
      11851 Rte 16, Delevan, NY 14042-9782
      View Details

    Similar Nearby for Sale

    • $135,000

      Former Convenience Store on Route 16

      1,280 sq ft building on 2.02 acres in Lime Lake.
      9971 Route 16, Machias, NY 14042
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      115,872 SF

      Yorkshire Shopping Center Value-Add Opportunity

      115,872 SF shopping center with value-add potential.
      12189 Ny-16, Chaffee, NY 14042
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      1,280 SF

      Former Store in Lime Lake

      1,280 sqft building on 2.02 acres near Franklinville.
      9971 Route 16, Delevan, NY 14042
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      1,280 SF

      Lime Lake Former Convenience Store

      1,280 SF building on 2.02 acres in Lime Lake.
      9971 Route 16, Machias, NY 14042
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    • Contact for pricing
      1,280 SF

      Former Convenience Store on Route 16

      1,280 sq ft building on 2.02 acres in Lime Lake.
      9971 Ny-16, Delevan, NY 14042
      View Details
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    Delevan, NY 14042
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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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