Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2488 Grand Island Blvd Grand Island, NY 14072

    • Investment properties
    • 13,262 SF
    • 2.35 lot acres
    For Lease
    View listing
    Last Sale
    Mar 31, 2025
    $939,500
    Value Estimations
    $820,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3893318
    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

    • The Dog Barn / Animal Training
    • T's Dry Bar / Hair Salon
    • Glitter Paws, LLC / Pet Grooming Service
    • The Pit Chic Dog Training / Animal Training
    • Rescue Buffalo / Animal Shelter / Pet Adoption Service

    Property Details for 2488 Grand Island Blvd

    Year built
    1942
    Lot size
    2.35 lot acres
    Property size
    13,262 SF
    Zone code
    NBD
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    144600 24.03-1-40.21
    APU
    144600240314021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $840,000
      ML approach
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $784,000
      Market price range: $565k - $1.71M
      AI Estimate
      $721,000
      Market price range: $529k - $1.40M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,095,000
      Current use
      AUTO REPAIR, GARAGE
      $1,335,000
      Change: +22% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Island
    County
    Erie
    State
    New York
    Longitude
    -78.9712
    Latitude
    43.0294
    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
    $27,800
    $552,200
    $580,000
    -
    $36,581
    $726,619
    $763,200

    Comparable in this City

    • Value Estimation by Request
      7,401 SF

      1780 Grand Is Blvd

      STORE/OFFICE (MIXED USE) • 7,401 SF
      1780 Grand Is Blvd, Grand Island, NY 14072-2265
      View Details
    • Value Estimation by Request
      3,200 SF

      110 Industrial Dr

      STORE/OFFICE (MIXED USE) • 3,200 SF
      110 Industrial Dr, Grand Island, NY 14072
      View Details
    • Value Estimation by Request
      12,978 SF

      1858 Whitehaven Rd

      STORE/OFFICE (MIXED USE) • 12,978 SF
      1858 Whitehaven Rd, Grand Island, NY 14072-1804
      View Details
    • Value Estimation by Request
      5,290 SF

      2120 Alvin Rd

      STORE/OFFICE (MIXED USE) • 5,290 SF
      2120 Alvin Rd, Grand Island, NY 14072-2082
      View Details
    • Value Estimation by Request
      5,400 SF

      2067 Baseline Rd

      STORE/OFFICE (MIXED USE) • 5,400 SF
      2067 Baseline Rd, Grand Island, NY 14072
      View Details
    • Value Estimation by Request
      6,400 SF

      2600 Grand Is Blvd

      STORE/OFFICE (MIXED USE) • 6,400 SF
      2600 Grand Is Blvd, Grand Island, NY 14072-3148
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Land with Excellent Location

      Land with high visibility near major transportation routes.
      Whitehaven Rd, Grand Island, NY 14072
      View Details
    • $329,000

      Commercially Zoned Land Opportunity

      10.2-acre commercially zoned land with high visibility.
      1800 Grand Island Blvd, Grand Island, NY 14072
      View Details
    • Contact for pricing

      Retail Store and Nursery Site

      2.76-acre retail property with high visibility and development potential.
      3214 Grand Island Blvd, Grand Island, NY 14072
      View Details
    • $139,900

      Grand Island Industrial Lot

      Vacant wooded industrial lot available on Grand Island.
      Lang Blvd, Grand Island, NY 14072
      View Details
    • $369,000

      Updated Commercial Building For Sale

      Tenant-occupied commercial building with recent updates in central business district.
      1870 Whitehaven Rd, Grand Island, NY 14072
      View Details
    • $359,000
      10.20 Acres

      1850 Grand Island Blvd

      Land • 10.20 Acres
      1850 Grand Island Blvd, Grand Island, NY 14072
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Commercial Land for Lease

      1.04 +/- acre commercial land available for lease.
      1754 Grand Island Blvd, Grand Island, NY 14072
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Snap Fitness

      2000 sq ft retail space in Snap Fitness plaza.
      2488 Grand Island Blvd, Grand Island, NY 14072
      View Details
    • $5 SF/Yr
      6,033 SF

      Grand Island Office Space

      Flexible workspace solutions in NY.
      1795 Baseline Rd, Grand Island, NY 14072
      View Details
    • $1,638 /Mo
      1,040 SF

      Turn Key Medical/Retail Space

      Sub-lease opportunity in a busy plaza on Grand Island.
      2283 Grand Island Blvd, Grand Island, NY 14072
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2488 Grand Island Blvd
    Grand Island, NY 14072
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.