561 Ridge Rd Lackawanna, NY 14218
- Investment properties
- 4,321 SF
- 0.21 lot acres
Current Use by Public Records
- Frank Bybel Law Office / Attorney
- Jason Shear Law / Consultant
- Dr. Leo Michalek / General Practitioner
- Law Offices / Attorney
Property Details for 561 Ridge Rd
- Year built
- 1990
- Lot size
- 0.21 lot acres
- Property size
- 4,321 SF
- Zone code
- CBD
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 140900 142.37-4-6.1
- APU
- 14090014237461
Description
This exceptional investment opportunity presents a 5,721 square foot office building situated on a 0.21-acre lot at 561 Ridge Rd, Lackawanna, NY. The property boasts nine professional offices on the first floor, conveniently equipped with three bathrooms and a kitchenette. Currently generating income, this building offers immediate return on investment. The second floor presents a significant value-add opportunity for expansion or further development. The basement has been recently renovated, adding to the overall functionality and appeal. A new HVAC system ensures efficient climate control throughout the building. Ample parking is available with 10+ spaces, plus additional garage space. The property's location within the Central Business District zoning area provides excellent access to amenities and services. Its proximity to downtown Buffalo, less than 10 minutes away, further enhances its desirability and accessibility. This is a rare chance to acquire a well-maintained, income-producing office building with significant upside potential in a thriving location. The combination of existing income, renovation updates, and strategic location makes this an attractive investment for discerning buyers.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $235,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $170,000
- 6.5%
- $200,000
- 7%
- $185,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $160,000
- Geo Method
- $180,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $180,000
- Retail
- $155,000
- Mixed-Use
- $170,000
- Hospitality
- $155,000
- Educational
- $165,000
- Residential Income
- $195,000
- Energy
- $190,000
- Income-Based Land
- $190,000
- Food Service
- $200,000
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8307
- Latitude
- 42.8256
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
