770 Davison RdLockport, NY 14094

Property Details for 770 Davison Rd

Year built

2004

Lot size

0.83 AC

Property size (Sq ft)

9,539 SF

Zone code

05 - COMMERCIAL

Property type

Office properties

Property subtype

Office buildings

APN

290900 123.08-4-6

APU

2909001230846

Description

This single-story, 9,000 square foot Class B office building at 770 Davison Road in Lockport, NY, offers a variety of suite sizes perfect for medical or professional practices. Built in 2002, the property features five suites ranging from 1,800 to 7,200 contiguous square feet, with a minimum divisible space of 1,800 square feet. The building is one of nineteen in a larger office park complex situated on a 0.83-acre lot. All buildings are single-story wood frame structures with brick exteriors, asphalt shingle roofs, and either crawl spaces or full basements. The complex boasts ample parking and multiple access points. Its convenient location, just north of Lincoln Avenue on Davison Road, offers easy access to major roadways, including Transit Road, and is within close proximity to Lockport Memorial Hospital and a wide array of retail amenities, restaurants, and hotels. The location is also strategically positioned approximately 18 miles east of the Niagara Falls/Canadian border and 30 miles from Downtown Buffalo. The property is currently approximately 50% occupied. Each building within the complex is situated on its own tax parcel and can be leased or sold separately. This presents a unique opportunity for both individual tenants and investors. The zoning is commercial.

• CAP approach

  CAP return

  Valuation

  6%

  $1,730,352

  6.5%

  $1,597,248

  7%

  $1,483,159

• Comparable approach

  Method

  Valuation

  Relative Method

  $912,587

  Geo Method

  $600,098

• Alternative Use

  Use

  Valuation

  Residential

  $1,980,588

  Hospitality

  $1,814,208

  Educational

  $1,509,400

  Medical

  $1,561,310

  Retail

  $2,347,955

Location Insight

City

Lockport

County

Niagara

State

New York

Latitude

43.1563

Longitude

-78.665

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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