42 Professional PkwyLockport, NY 14094

Property Details for 42 Professional Pkwy

Year built

1992

Lot size

0.40 AC

Property size (Sq ft)

2,560 SF

Zone code

05 - COMMERCIAL

Property type

Office properties

Property subtype

Office buildings

APN

290900 123.08-4-10

APU

29090012308410

Description

This single-tenant, 2,560 sq ft Class B office building in Lockport, NY, is ideally suited for medical or executive office use. Built in 2002, the one-story building features an open reception area, six large executive offices, open workspace, kitchen, storage, and restrooms. Ample natural light and a convenient rear parking lot enhance its appeal. The property is part of a 19-building complex, offering similar units ranging from 2,400 to 3,600+ sq ft. Each building sits on its own tax parcel and can be leased or sold separately. Lots range from 0.35 to 1.19 acres. The complex boasts multiple access points and abundant parking. Its location offers easy access to Route 78, Lockport Memorial Hospital, and a variety of retail, dining, and hotel options. The property is situated in Niagara County, conveniently located near Niagara Falls and Buffalo. The building's wood frame, brick exterior, and asphalt shingle roof are key features. The zoning is commercial. This presents a unique opportunity to acquire a well-maintained office building in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $464,378

  6.5%

  $428,657

  7%

  $398,038

• Comparable approach

  Method

  Valuation

  Relative Method

  $244,913

  Geo Method

  $161,050

• Alternative Use

  Use

  Valuation

  Residential

  $531,534

  Hospitality

  $486,882

  Educational

  $405,080

  Medical

  $419,012

  Retail

  $630,125

Location Insight

City

Lockport

County

Niagara

State

New York

Latitude

43.1581

Longitude

-78.6639

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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