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    Property profile & analytics

    16 Mechanic St Silver Creek, NY 14136-1202

    • Industrial properties
    • 28,787 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Jan 24, 2023
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3631081
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 16 Mechanic St

    Year built
    1955
    Lot size
    0.29 lot acres
    Property size
    28,787 SF
    Zone code
    C
    Property type
    Industrial properties
    APN
    064603 32.18-6-25
    APU
    646033218625

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $331,000
      Market price range: $331k - $1.34M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $490,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Silver Creek
    County
    Chautauqua
    State
    New York
    Longitude
    -79.1636
    Latitude
    42.5447
    CBSA code
    27460
    CBSA name
    JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $7,100
    $172,900
    $180,000
    -
    $12,241
    $298,104
    $310,345

    Comparable in this City

    • Value Estimation
      $265,000
      13,106 SF

      20 Mechanic St

      INDUSTRIAL (GENERAL) • 13,106 SF
      20 Mechanic St, Silver Creek, NY 14136-1202
      View Details
    • Value Estimation
      $245,000
      19,760 SF

      25 Howard St

      INDUSTRIAL (GENERAL) • 19,760 SF
      25 Howard St, Silver Creek, NY 14136-1007
      View Details
    • Value Estimation
      $300,000
      4,278 SF

      16 Mechanic St

      INDUSTRIAL (GENERAL) • 4,278 SF
      16 Mechanic St, Silver Creek, NY 14136-1202
      View Details
    • Value Estimation
      $270,000
      16,500 SF

      192 Central Ave

      INDUSTRIAL (GENERAL) • 16,500 SF
      192 Central Ave, Silver Creek, NY 14136-1338
      View Details
    • Value Estimation
      $410,000
      27,134 SF

      345 Central Ave

      INDUSTRIAL (GENERAL) • 27,134 SF
      345 Central Ave, Silver Creek, NY 14136-1231
      View Details
    • Value Estimation
      $280,000
      14,708 SF

      341 Central Ave

      INDUSTRIAL (GENERAL) • 14,708 SF
      341 Central Ave, Silver Creek, NY 14136-1228
      View Details

    Similar Nearby for Sale

    • $450,000

      Historic Retail Building on Route 5

      Turnkey retail/restaurant opportunity in high-traffic area with ample parking.
      1277 Route 5, Silver Creek, NY 14136
      View Details
    • $85,000
      5.20 Acres

      Vineyard Land in Silver Creek

      4.4+/- acre vineyard in Chautauqua County, ideal for farming.
      Vl Beebe Rd, Silver Creek, NY 14136
      View Details
    • $215,000
      9.80 Acres

      Versatile Land with Pole Barn

      10.30 acres in Chautauqua County, ideal for farming.
      12380 Beebe Rd, Silver Creek, NY 14136
      View Details
    • $159,900
      2,881 SF

      Spacious Duplex in Silver Creek

      Well-maintained two-family duplex on a quiet street near Sunset Bay.
      17 Christy St, Silver Creek, NY 14136
      View Details
    • New
      $380,000
      18.00 Acres

      Waterfront Land on Lake Erie

      18-acre waterfront property with Lake Erie frontage near Silver Creek.
      Route 5, Silver Creek, NY 14136
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo
      2,400 SF

      Versatile Warehouse Space in Silver Creek

      2,400 sq ft warehouse with high ceilings and heated floors.
      12445 Hanford Rd, Silver Creek, NY 14136
      View Details
    • $6 SF/Yr
      27,152 SF

      Silver Creek Warehouse with Freezer

      27,152 SF warehouse with food grade silos and freezer.
      18 Main St, Silver Creek, NY 14136
      View Details
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    16 Mechanic St
    Silver Creek, NY 14136-1202
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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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