7631 Transit RdEast Amherst, NY 14051

Property Details for 7631 Transit Rd

Year built

1975

Lot size

6.90 AC

Property size (Sq ft)

6,714 SF

Zone code

MA

Property type

Retail properties

Property subtype

Auto shops

APN

143200 17.03-1-2.1

APU

1432001703121

Description

This exceptional 6.88-acre commercial land parcel, located at 7631 Transit Road in East Amherst, New York (zip code 14051), presents a unique mixed-use development opportunity. The property, encompassing 207,010 square feet, is zoned for mixed-use development and has already received approvals from the Town of Clarence for a comprehensive project. Plans include the construction of eleven townhouse units, a 13,400 square foot commercial building featuring retail space on the first floor and four apartments on the second floor, along with an additional apartment within the commercial building, and 73 storage units. The site also includes 72 parking spaces to accommodate residents and customers. Existing structures, including the former Bitterman Automotive buildings and two houses, will be demolished by the new owner, providing a clean slate for this exciting venture. The property's prime location on Transit Road offers excellent visibility and accessibility, making it an ideal location for a thriving mixed-use development. The year of construction for the existing structures is 1975. This is a turnkey opportunity for developers seeking a shovel-ready project with pre-approved plans. The asking price for this exceptional development site is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,790,333

  6.5%

  $1,652,615

  7%

  $1,534,571

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,618,656

  Geo Method

  $1,064,392

• Alternative Use

  Use

  Valuation

  Residential

  $1,394,042

  Hospitality

  $1,276,935

  Educational

  $1,062,395

  Medical

  $1,098,933

  Retail

  $1,652,615

Location Insight

City

East Amherst

County

Erie

State

New York

Latitude

43.0575

Longitude

-78.6958

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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