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    1600 Bowen Rd Elma, NY 14059-9550
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    Property profile & analytics

    1600 Bowen Rd, Elma, NY 14059-9550

    View on Map
    • Office buildings
    • 10,577 SF
    • 38.00 lot acres
    Off-Market
    Property ID
    US63-1984431
    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.
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Elma Building & Zoning Department / Urban Planning Department
    • Elma Courts / Local Government Office
    • Erie County Sheriff Sub Station / Sheriff'S Department
    • Elma Town Hall / City Government Office
    • Waste-Be-Gone / Waste Management Facility / Hazardous Waste Disposal

    Property Details for 1600 Bowen Rd

    Year built
    2004
    Lot size
    38.00 lot acres
    Zone code
    RC
    Property type
    Office buildings
    APN
    144200 146.03-1-25.2
    APU
    144200146031252

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,355,000
      6.5%
      $2,175,000
      7%
      $2,020,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,791,000
      Market price range: $768k - $1.79M
      AI Estimate
      $1,167,000
      Market price range: $405k - $1.17M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,235,000
      Current use
      RETAIL STORES
      $1,535,000
      Change: +24% Conversion: Moderate
      RESTAURANT
      $1,445,000
      Change: +17% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,430,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,065,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elma
    County
    Erie
    State
    New York
    Longitude
    -78.6386
    Latitude
    42.8162
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN 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
    2023
    $0.00
    $15,900
    $230,500
    $246,400
    -
    $567,857
    $8,232,143
    $8,800,000

    Comparable in this City

    • Value Estimation
      $950,000
      8,386 SF

      2741 Transit Rd

      OFFICE BUILDING
      2741 Transit Rd, Elma, NY 14059-9045
      View Details
    • Value Estimation by Request
      2,336 SF

      7615 Seneca St

      OFFICE BUILDING
      7615 Seneca St, Elma, NY 14059
      View Details
    • Value Estimation by Request
      2,620 SF

      6900 Seneca St

      PROFESSIONAL BUILDING
      6900 Seneca St, Elma, NY 14059-9522
      View Details
    • Value Estimation
      $970,000
      21,915 SF

      7060 Seneca St

      OFFICE BUILDING
      7060 Seneca St, Elma, NY 14059
      View Details
    • Value Estimation
      $680,000
      5,800 SF

      5780 Seneca St

      OFFICE BUILDING
      5780 Seneca St, Elma, NY 14059-9008
      View Details
    • Value Estimation by Request
      3,108 SF

      5121 Clinton St

      OFFICE BUILDING
      5121 Clinton St, Elma, NY 14059-9128
      View Details

    Similar Nearby for Sale

    • $699,000
      6,450 SF

      Firehouse Square Mixed-Use Facility

      Multi-use facility with office suites and residential apartments for sale.
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    • $200,000
      2.40 Acres

      Secluded Buildable Lot in Elma

      2.4 acre lot in Elma, utilities at site.
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    • Contact for pricing

      Elma Commercial Land Opportunity

      2.8 acre commercial lot on Transit Road, Elma, NY.
      Vl Transit Rd, Elma, NY 14059
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    Similar Nearby for Lease

    • $3,500 /Mo

      Updated Office Space For Rent

      Newly updated office space in Elma, turn-key ready.
      5763 Seneca St, Elma, NY 14059
      View Details
    • $1,100 /Mo
      1,200 SF

      Elma Office Space For Rent

      Office suite for lease featuring updated mechanics and cosmetics.
      2901-4 Bowen Rd, Elma, NY 14059
      View Details
    • Contact for pricing
      1,280 SF

      Professional Office Space Available

      Turnkey office spaces available for rent with build-to-suit options.
      2701 Transit Rd, Elma, NY 14059
      View Details
    • $2,500 /Mo
      2,860 SF

      Elma Office Suites For Lease

      Exceptional office suites available for lease in Elma, New York.
      2901-3 Bowen Rd, Elma, NY 14059
      View Details
    • $1,200 /Mo
      1,080 SF

      Elma, NY Commercial Space

      Office suite for lease in Elma, NY with updated features.
      2901-2 Bowen Rd, Elma, NY 14059
      View Details
    • Contact for pricing

      Elma Plaza Retail/Office Space

      1560 sq ft retail or office space in Elma.
      2317 Bowen Rd, Elma, NY 14059
      View Details
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    Elma, NY 14059-9550
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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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