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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Investment properties
168 Fairmount Ave Lakewood, NY 14750-1942
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US63-0170058
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2004
Total area
6,409 SF
Lot
1.2 ac (52,272 SF)
Zoning code
05 - COMMERCIAL
APN
062201 385.12-1-5.1
UPID
US63-0170058
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
-
Southern Chautauqua Federal Credit Union Credit Union
-
Community of Hope Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$476k
Blend (final)
Blend
$610k
Owner & transaction history
Paul A Gustafson · 8 yrs held
Paul A Gustafson
since 2018
2 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Lakewood, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$640,000
+104.2%
Office building
$580,000
+84.4%
Auto repair, garage
$400,000
+28.0%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
RESTAURANT
$640,000
Change: +104% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +84% · Conversion: Easy
AUTO REPAIR, GARAGE
$400,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$95 / 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 2020Property tax & assessments
Tax year 2020
Assessed value
$813,100
Assessed 2023
Previous assessed
$813,100
+0.0% YoY
Assessed land
$225,000
Assessed improvement
$588,100
Land market value
$335,826
Improvement market value
$877,774
Total market value
$1,213,600
Applied tax rate
62,201.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2004
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
6,409 SF
Lot
1.2 ac (52,272 SF)
Zoning code
05 - COMMERCIAL
APN
062201 385.12-1-5.1
UPID
US63-0170058
Jurisdiction
CHAUTAUQUA
Zoning & alternative use
05 - COMMERCIAL · Lakewood, NYZoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Lakewood, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$640,000
OFFICE BUILDING
Est. value
$580,000
AUTO REPAIR, GARAGE
Est. value
$400,000
RESTAURANT
OFFICE BUILDING
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
Cooling
Yes
Stories
1
Buildings
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Paul A Gustafson
Individual
Mailing address
168 E FAIRMOUNT AVE, LAKEWOOD, NY 14750-1942
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2018
—
Paul A Gustafson
—
Deed
related
$95,000 · Southern Chautaugua Federal Credit Union
Dec 7, 2016
—
Faith Riolo
—
Deed
related
$68,800 · Southern Chautaugua Federal Credit Union
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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