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    Property profile & analytics

    231 Cascade Dr Springville, NY 14141-9116

    • Strip malls
    • 35,800 SF
    • 8.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 19, 2020
    Value Estimations
    $3,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1346803
    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

    • Maurices / Plus Size Clothing Store / Women'S Clothing Store
    • Springville VA Clinic / Medical Clinic / Veterans Hospital
    • Shoe Dept. / Shoe Store / Fashion Accessories Store
    • Verizon / Cell Phone Store / Electronics Store
    • Dapper Dog Grooming / Pet Groomer

    Property Details for 231 Cascade Dr

    Year built
    2005
    Lot size
    8.00 lot acres
    Property size
    35,800 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    143801 347.05-1-1
    APU
    1438013470511

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $4,845,000
      Current use
      RESTAURANT
      $4,890,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $4,180,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Springville
    County
    Erie
    State
    New York
    Longitude
    -78.691
    Latitude
    42.5025
    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
    $166,400
    $1,538,400
    $1,704,800
    -
    $520,000
    $4,807,500
    $5,327,500

    Comparable in this City

    • Value Estimation by Request
      2,087 SF

      500-504 Cascade Dr

      SHOPPING CENTER, STRIP CENTER • 2,087 SF
      500-504 Cascade Dr, Springville, NY 14141
      View Details
    • Value Estimation by Request
      9,560 SF

      60 Cascade Dr

      SHOPPING CENTER, STRIP CENTER • 9,560 SF
      60 Cascade Dr, Springville, NY 14141-9283
      View Details
    • Value Estimation
      $525,000
      19,150 SF

      27 Franklin St

      SHOPPING CENTER, STRIP CENTER • 19,150 SF
      27 Franklin St, Springville, NY 14141-1375
      View Details
    • Value Estimation
      $1,885,000
      80,910 SF

      252 Cascade Dr

      MINI-MALL • 80,910 SF
      252 Cascade Dr, Springville, NY 14141
      View Details
    • Value Estimation
      $920,000
      38,375 SF

      100 Cascade Dr

      MINI-MALL • 38,375 SF
      100 Cascade Dr, Springville, NY 14141-9602
      View Details
    • Value Estimation
      $3,130,000
      132,637 SF

      440 Cascade Dr

      MINI-MALL • 132,637 SF
      440 Cascade Dr, Springville, NY 14141-9779
      View Details

    Similar Nearby for Sale

    • $2,900,000
      38,375 SF

      Springville Retail Center - Value Add

      Multi-tenant retail property, high traffic area.
      100 Cascade Dr, Springville, NY 14141
      View Details
    • New
      $115,000
      4,108 SF

      Mixed-Use Building in Springville, NY

      Mixed-use building with commercial and residential potential in Springville.
      26 W Main St, Springville, NY 14141
      View Details
    • New
      $115,000
      4,108 SF

      Mixed-Use Building in Springville, NY

      4,108 SF mixed-use building in Springville's B-1 Business District.
      26 W Main St, Springville, NY 14141
      View Details
    • $549,000
      8.73 Acres

      Springville Commercial Land - 8.73 Acres

      Prime Commercial Land, High Visibility, Redevelopment Ready
      482 Waverly St, Springville, NY 14141
      View Details
    • Contact for pricing

      Outparcels For Development Near Lowe's

      Two outparcels available for development in high-traffic location.
      330 S Cascade Dr, Springville, NY 14141
      View Details
    • $480,000

      32 Acres in Springville Village

      32 acres of wooded land ready for development.
      Waverly St, Springville, NY 14141
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      105,636 SF

      Springville Retail Corridor Space Available

      Retail spaces available in a 105,636 SF shopping center.
      252 South Cascade Dr, Springville, NY 14141
      View Details
    • $15 SF/Yr
      3,550 SF

      Springville Retail Space with Drive-Thru

      3,550 SF retail building with drive-thru in Springville, NY.
      218 S Cascade Dr, Springville, NY 14141
      View Details
    • $14 SF/Yr
      18,589 SF

      Springville Medical/Office Space Available

      Medical/office space for lease in Springville, New York.
      27 Franklin St, Springville, NY 14141
      View Details
    • $14 SF/Yr
      18,589 SF

      Springville Medical Office Space

      8,000 SF Available in Springville, NY
      27 Franklin St, Springville, NY 14141
      View Details
    • $11 SF/Yr
      85,875 SF

      Springville Warehouse: 85,875 SF

      Spacious industrial warehouse, ideal for distribution.
      243 Main St, Springville, NY 14141
      View Details
    • $11 SF/Yr
      85,875 SF

      85,000 SF Mixed-Use Building

      85,000 SF mixed-use building on 4.5 acres for lease.
      243 W Main St, Springville, NY 14141
      View Details
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    231 Cascade Dr
    Springville, NY 14141-9116
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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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