2839 Park Ave Lackawanna, NY 14218
- Auto shops
- 4,620 SF
- 0.23 lot acres
Current Use by Public Records
- Guarino's / Auto Repair Shop
Property Details for 2839 Park Ave
- Year built
- 1945
- Lot size
- 0.23 lot acres
- Property size
- 4,620 SF
- Zone code
- NC
- Property type
- Auto shops
- APN
- 140900 142.46-8-14.1
- APU
- 140900142468141
Description
This exceptional commercial property presents a unique investment opportunity in the thriving city of Lackawanna, New York. Located at 2839 S Park Ave, this 4,620 square foot building sits on a 0.23-acre lot, offering ample space for a variety of commercial ventures. The property boasts a rich history as a successful automotive shop for over 60 years, providing a solid foundation for continued success. Its strategic location directly across the street from the City of Lackawanna's substantial $18.5 million City Hall project positions it perfectly to benefit from increased foot traffic, visibility, and the overall revitalization of the area. The building itself is well-maintained and ready for immediate occupancy, offering significant potential for a new owner to establish or expand their business. The substantial square footage allows for diverse uses, making it an attractive option for various commercial enterprises. This is a rare opportunity to acquire a well-established property in a rapidly developing location, offering both immediate returns and long-term growth potential. The combination of history, location, and size makes this a truly exceptional commercial property. The asking price is $299,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $295,000
- 6.5%
- $285,000
- 7%
- $295,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $310,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $290,000
- Retail
- $330,000
- Mixed-Use
- $240,000
- Hospitality
- $280,000
- Educational
- $245,000
- Residential Income
- $335,000
- Energy
- $250,000
- Income-Based Land
- $310,000
- Food Service
- $310,000
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8244
- Latitude
- 42.8226
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA