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    205 Central Ave Lancaster, NY 14086-1806
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    Property profile & analytics

    205 Central Ave, Lancaster, NY 14086-1806

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    • Investment properties
    • 6,260 SF
    • 0.65 lot acres
    Off-Market
    Property ID
    US63-6046492
    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
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Yelling Goat / Restaurant
    • Cardtronics ATM / Atm

    Property Details for 205 Central Ave

    Year built
    1930
    Lot size
    0.65 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    145203 104.15-9-1.1
    APU
    14520310415911

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 25, 2020 — Pamojal LLC — Deed · related $426k · Alden St Bk
    May 31, 2019 — Pamoja1 LLC John D Latella Quit Claim Deed —
    Jan 22, 2019 — John D Latella Latella 2015 Family Trust Quit Claim Deed · related —
    May 27, 2016 — Latella 2015 Family Trust John V Latella Quit Claim Deed · related —
    Mar 26, 2008 — Latella,john D & John V John Latella Quit Claim Deed · related —
    — — Latella,john D — Deed Of Trust · related $357k · John V Latella
    — — Pamojal LLC — Deed Of Trust · related $426k · Alden St Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $633,000
      Market price range: $302k - $868k
      AI Estimate
      $546,000
      Market price range: $325k - $705k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $635,000
      Current use
      RETAIL STORES
      $910,000
      Change: +44% Conversion: Easy
      RESTAURANT
      $855,000
      Change: +35% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $845,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $730,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $630,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.6714
    Latitude
    42.9092
    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
    $77,500
    $312,500
    $390,000
    -
    $103,333
    $416,667
    $520,000

    Comparable in this City

    • Value Estimation by Request
      2,030 SF

      197 Central Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      197 Central Ave, Lancaster, NY 14086-1804
      View Details
    • Value Estimation by Request
      3,588 SF

      22 Brunck Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      22 Brunck Rd, Lancaster, NY 14086-9464
      View Details
    • Value Estimation by Request
      4,512 SF

      21 Palmer Pl

      OFFICE/RESIDENTIAL (MIXED USE)
      21 Palmer Pl, Lancaster, NY 14086-2121
      View Details
    • Value Estimation by Request
      1,792 SF

      10 Carter St

      OFFICE/RESIDENTIAL (MIXED USE)
      10 Carter St, Lancaster, NY 14086-1810
      View Details
    • Value Estimation by Request
      3,900 SF

      32 Central Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      32 Central Ave, Lancaster, NY 14086-2159
      View Details
    • Value Estimation by Request
      2,400 SF

      5976 Genesee St

      OFFICE/RESIDENTIAL (MIXED USE)
      5976 Genesee St, Lancaster, NY 14086-9733
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,337 SF

      Broadway Street Auto Shop Opportunity

      Auto shop with detached home and high-visibility frontage.
      6526 Broadway St, Lancaster, NY 14086
      View Details
    • $669,000

      Mixed-Use Investment Opportunity in Lancaster

      Mixed-use property with retail and residential units in Lancaster Village.
      5476 Broadway St, Lancaster, NY 14086
      View Details
    • $669,000
      9,856 SF

      Lancaster Mixed-Use Investment Opportunity

      Mixed-use property in Lancaster Village with retail and residential units.
      5476 Broadway St, Lancaster, NY 14086
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,300 SF

      Restaurant/Bar Space For Lease

      Restaurant/bar space available in Lancaster, NY.
      4493 Walden Ave, Lancaster, NY 14086
      View Details
    • $1.00 SF/Yr

      New Lancaster Warehouse/Storage Bays

      New warehouse/storage bays in Lancaster, NY with ample parking.
      4425 Walden Ave, Lancaster, NY 14086
      View Details
    • $12 SF/Yr

      Lancaster Warehouse with Office Space

      5,000 SF warehouse with 1,000 SF office space for lease.
      933 Ransom Rd, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Retail Space on Busy Street

      High visibility retail space with parking and signage available.
      3637 Walden Ave, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Retail Space in Lancaster, NY

      Retail space in a vibrant Lancaster, NY community.
      5211 Broadway, Lancaster, NY 14086
      View Details
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    205 Central Ave
    Lancaster, NY 14086-1806
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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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    205 Central Ave, Lancaster, NY, 14086
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