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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Office buildings
1600 Bowen Rd Elma, NY 14059-9550
Entity Owned
Free & Clear
Property ID
US63-1984431
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
10,577 SF
Lot
38 ac (1,655,280 SF)
Zoning code
RC
APN
144200 146.03-1-25.2
UPID
US63-1984431
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.18M
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.71M
Owner & transaction history
TOWN ELMA TOWN HALL
TOWN ELMA TOWN HALL
Zoning & alternative use
RC · Elma, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+24.4%
Restaurant
$1.4M
+17.0%
Neighborhood: shopping center
$1.4M
+15.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,355,000
6.5%
$2,175,000
7%
$2,020,000
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
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$162 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$246,400
Assessed 2023
Previous assessed
$246,400
+0.0% YoY
Assessed land
$15,900
Assessed improvement
$230,500
Land market value
$567,857
Improvement market value
$8,232,143
Total market value
$8,800,000
Applied tax rate
144,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Heating
NONE
Buildings
1
Stories
1
Total area
10,577 SF
Lot
38 ac (1,655,280 SF)
Zoning code
RC
APN
144200 146.03-1-25.2
UPID
US63-1984431
Jurisdiction
ERIE
Zoning & alternative use
RC · Elma, NY
Zoning RC · permitted uses
RC · Elma, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING Current
RETAIL STORES
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Stories
1
Buildings
1
Lot
38 ac
Current owner
From public records · entity-resolved
TOWN ELMA TOWN HALL
Individual
Free & Clear · 0 yrs held
Mailing address
1600 BOWEN RD, ELMA, NY 14059-9550
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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