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    Property profile & analytics

    2 Monroe St Depew, NY 14043

    • Office buildings
    • 3,000 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0334684
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for 2 Monroe St

    Year built
    1998
    Lot size
    0.05 lot acres
    Property size
    3,000 SF
    Property type
    Office buildings
    APN
    145289 115.05-2-26.2
    APU
    145289115052262

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $280,000
      Market price range: $218k - $508k
      AI Estimate
      $176,000
      Market price range: $89.0k - $358k

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

    Location Insight

    • Map
    • Local Demand
    City
    Depew
    County
    Erie
    State
    New York
    Longitude
    -78.6964
    Latitude
    42.8934
    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
    $25,000
    $220,000
    $245,000
    -
    $33,337
    $293,363
    $326,700

    Comparable in this City

    • Value Estimation
      $660,000
      4,560 SF

      6140 Transit Rd

      OFFICE BUILDING • 4,560 SF
      6140 Transit Rd, Depew, NY 14043-1536
      View Details
    • Value Estimation
      $365,000
      9,995 SF

      4703 Transit Rd

      OFFICE BUILDING • 9,995 SF
      4703 Transit Rd, Depew, NY 14043-4861
      View Details
    • Value Estimation
      $265,000
      1,860 SF

      5939 Transit Rd

      PROFESSIONAL BUILDING • 1,860 SF
      5939 Transit Rd, Depew, NY 14043-2247
      View Details
    • Value Estimation
      $260,000
      840 SF

      2478 George Urban Blvd

      OFFICE BUILDING • 840 SF
      2478 George Urban Blvd, Depew, NY 14043-2010
      View Details
    • Value Estimation
      $550,000
      29,700 SF

      6350 Transit Rd

      PROFESSIONAL BUILDING • 29,700 SF
      6350 Transit Rd, Depew, NY 14043-1039
      View Details
    • Value Estimation
      $1,020,000
      59,944 SF

      6420 Transit Rd, Unit 6450

      PROFESSIONAL BUILDING • 59,944 SF
      6420 Transit Rd, Depew, NY 14043-1033
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      59,934 SF

      Transit Road Office Building

      Office building on 9.74 acres near Transit Road.
      6420-6450 Transit Rd, Depew, NY 14043
      View Details
    • $425,000
      6,400 SF

      Depew Office Building For Sale

      6,400 SF office building with lease options.
      345 Dick Rd, Depew, NY 14043
      View Details
    • $299,900

      Transit Road Office/Retail Building

      Two-story building suitable for office or retail use.
      6216 Transit Rd, Depew, NY 14043
      View Details
    • $279,900
      1,680 SF

      High-Visibility Office Building on George Urban

      Well-maintained 1,680 Sq Ft office building on George Urban Blvd.
      2478 George Urban Blvd, Depew, NY 14043
      View Details
    • $550,000
      4,083 SF

      Pristine Office Building For Sale

      Move-in ready office building with convenient location and ample parking.
      430 Dick Rd, Depew, NY 14043
      View Details
    • $2,400,000
      8,070 SF

      Transit Road Office Building For Sale

      Single-story office building on Transit Road with development potential.
      5090 Transit Rd, Depew, NY 14043
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,505 SF

      Transit Road Retail/Office/Medical Space

      Mixed-use center with high visibility and ample parking.
      4727 Transit Rd, Lancaster, NY 14043
      View Details
    • Contact for pricing
      1,030 SF

      Transit Road Retail/Office/Medical Space

      Mixed-use center with high visibility and ample parking.
      4729-4731 Transit Rd, Lancaster, NY 14043
      View Details
    • Contact for pricing

      Former Convenience Store on Transit

      Former 7-11 available for lease on corner lot.
      5990 Transit Rd, Depew, NY 14043
      View Details
    • Contact for pricing
      8,647 SF

      Inviting Office Space on Transit

      Contemporary office building with high visibility and ample parking.
      6199 Transit Rd, Depew, NY 14043
      View Details
    • Contact for pricing

      Lancaster Warehouse/Retail/Office Space Available

      Versatile space near Transit Rd with high traffic volume.
      3283-3291 Walden Ave, Lancaster, NY 14043
      View Details
    • Contact for pricing
      7,230 SF

      Office Space in Depew, NY

      7,230 SF office space available for rent.
      1767 Como Park Blvd, Depew, NY 14043
      View Details
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    2 Monroe St
    Depew, NY 14043
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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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