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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2355 Union Rd, Unit Cheektowaga Buffalo, NY 14227

    • Investment properties
    • 13,608 SF
    • 0.60 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Sep 23, 2021
    $1,800,000
    Value Estimations
    $1,980,000
    Cap Rate Potential
    7.2%
    Investment properties
    Location Intelligence
    Property ID
    US63-6039306
    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

    • Investment properties

    Property Details for 2355 Union Rd

    Year built
    1970
    Lot size
    0.60 lot acres
    Property size
    13,608 SF
    Zone code
    05C
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    143089 124.08-2-2.11
    APU
    143089124082211

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,035,000
      ML approach
      $1,935,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,450,000
      6.5%
      $2,260,000
      7%
      $2,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,376,000
      Market price range: $832k - $2.22M
      AI Estimate
      $1,540,000
      Market price range: $832k - $2.30M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,350,000
      Current use
      RETAIL STORES
      $1,955,000
      Change: +45% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,765,000
      Change: +31% Conversion: Difficult
      RESTAURANT
      $1,685,000
      Change: +25% Conversion: Difficult
      OFFICE BUILDING
      $1,580,000
      Change: +17% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,325,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7526
    Latitude
    42.8759
    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
    $99,000
    $861,000
    $960,000
    -
    $108,791
    $946,154
    $1,054,945

    Comparable in this City

    • Value Estimation
      $285,000
      9,326 SF

      707 Cayuga Crk Rd

      STORE/OFFICE (MIXED USE) • 9,326 SF
      707 Cayuga Crk Rd, Buffalo, NY 14227-1977
      View Details
    • Value Estimation
      $245,000
      1,457 SF

      2957 Un Rd

      STORE/OFFICE (MIXED USE) • 1,457 SF
      2957 Un Rd, Cheektowaga, NY 14227-1421
      View Details
    • Value Estimation
      $225,000
      3,300 SF

      2641 William St

      STORE/OFFICE (MIXED USE) • 3,300 SF
      2641 William St, Buffalo, NY 14227-1834
      View Details
    • Value Estimation
      $1,270,000
      737 SF

      1111 Harlem Rd

      STORE/OFFICE (MIXED USE) • 737 SF
      1111 Harlem Rd, Buffalo, NY 14227-1715
      View Details
    • Value Estimation
      $270,000
      9,773 SF

      2550 Un Rd

      STORE/OFFICE (MIXED USE) • 9,773 SF
      2550 Un Rd, Cheektowaga, NY 14227-2206
      View Details
    • Value Estimation
      $1,175,000
      2,450 SF

      2600 William St

      STORE/OFFICE (MIXED USE) • 2,450 SF
      2600 William St, Cheektowaga, NY 14227-1831
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Property with Redevelopment Potential

      Fully rented mixed-use property with redevelopment potential in Cheektowaga, NY.
      1113 Harlem Rd, Buffalo, NY 14227
      View Details
    • $249,900

      Mixed-Use Property with Barber Shop

      Turnkey investment opportunity with residential and business potential.
      2404 Union Rd, Buffalo, NY 14227
      View Details
    • Contact for pricing

      Two-Story Mixed-Use Building Available

      Two-story building suitable for office, retail, industrial, or apartments.
      3700 Broadway, Cheektowaga, NY 14227
      View Details
    • $79,000

      Commercial Lot on Harlem Road

      Commercial lot for sale in high-traffic location.
      1131 Harlem Rd, Buffalo, NY 14227
      View Details
    • $695,000
      11,500 SF

      Harlem Road Office Building

      Office building with ample parking in a great location.
      1169 Harlem Rd, Buffalo, NY 14227
      View Details
    • $1,200,000

      Land Suitable for Development

      Land parcel near I-90 exit, suitable for various developments.
      2600 William St, Buffalo, NY 14227
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      127,675 SF

      Cheektowaga Industrial Warehouse

      High-bay distribution space available
      40-60 Industrial Pkwy, Cheektowaga, NY 14227
      View Details
    • $120 SF/Yr
      1,500 SF

      Cheektowaga Office Space: 1500+ SF

      Second-floor office, ideal for private businesses.
      2335 Un Rd, Cheektowaga, NY 14227
      View Details
    • Contact for pricing
      2,351 SF

      Restaurant Space with Drive-Through

      2,351 SF restaurant space with drive-through, built in 2018.
      3941 Broadway St, Buffalo, NY 14227
      View Details
    • Contact for pricing

      Retail Space in Cheektowaga Plaza

      3,600 SF retail space in busy shopping center.
      1450 French Rd, Cheektowaga, NY 14227
      View Details
    • $16 SF/Yr

      Renovated Retail Space with High Visibility

      Subdividable retail space with high traffic and ample parking.
      2675 Un Rd & William St, Cheektowaga, NY 14227
      View Details
    • $10 SF/Yr
      1,902 SF

      Union Road Executive Office Space

      1,902 SF Office, Vacant, 15 Parking Spaces
      2375 Un Rd, Cheektowaga, NY 14227
      View Details
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    2355 Union Rd, Unit Cheektowaga
    Buffalo, NY 14227
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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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