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

    2498 Un Rd Cheektowaga, NY 14227-2231

    • Office buildings
    • 2,097 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2023
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    9.6%
    Office buildings
    Location Intelligence
    Property ID
    US63-2179424
    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 2498 Un Rd

    Year built
    1999
    Lot size
    0.62 lot acres
    Property size
    2,097 SF
    Zone code
    05C
    Property type
    Office buildings
    APN
    143089 113.20-1-11
    APU
    14308911320111

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $430,000
      7%
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $226,000
      Market price range: $144k - $358k
      AI Estimate
      $206,000
      Market price range: $84.6k - $340k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $245,000
      Current use
      RETAIL STORES
      $300,000
      Change: +24% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $270,000
      Change: +12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $210,000
      Change: -14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $205,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7544
    Latitude
    42.8797
    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
    $72,000
    $103,000
    $175,000
    -
    $79,121
    $113,187
    $192,308

    Comparable in this City

    • Value Estimation
      $365,000
      25,694 SF

      1020 Losson Rd

      PROFESSIONAL BUILDING • 25,694 SF
      1020 Losson Rd, Buffalo, NY 14227
      View Details
    • Value Estimation
      $270,000
      2,231 SF

      570 Kennedy Rd

      OFFICE BUILDING • 2,231 SF
      570 Kennedy Rd, Buffalo, NY 14227-1030
      View Details
    • Value Estimation
      $250,000
      1,680 SF

      2835 William St

      OFFICE BUILDING • 1,680 SF
      2835 William St, Cheektowaga, NY 14227-1994
      View Details
    • Value Estimation
      $325,000
      1,764 SF

      2819 William St

      OFFICE BUILDING • 1,764 SF
      2819 William St, Cheektowaga, NY 14227-1922
      View Details
    • Value Estimation
      $320,000
      8,248 SF

      25 Tyrol Dr

      OFFICE BUILDING • 8,248 SF
      25 Tyrol Dr, Cheektowaga, NY 14227-2715
      View Details
    • Value Estimation
      $725,000
      6,024 SF

      3091 William St

      PROFESSIONAL BUILDING • 6,024 SF
      3091 William St, Cheektowaga, NY 14227-1919
      View Details

    Similar Nearby for Sale

    • $695,000
      11,500 SF

      Harlem Road Office Building

      Office building with ample parking in a great location.
      1169 Harlem Rd, Buffalo, NY 14227
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    • $719,000
      9,368 SF

      Office and Warehouse Buildings For Sale

      Freestanding office and warehouse buildings on an acre of land.
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    • $599,900
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      Two Buffalo Office Buildings

      Two professional office buildings with long-term tenants and flexible suites.
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    • $520,000
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      Harlem Road Commercial Opportunity

      6,119 sqft building on 0.62 acres in high-traffic location.
      1113- Harlem Rd, Buffalo, NY 14227
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    • Contact for pricing

      Industrial Property with Office Space

      Industrial and warehouse space with finished office and highway access.
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    • $695,000
      11,500 SF

      Executive Office Building, Cheektowaga NY

      11,500 SF Office, Fully Furnished, Ample Parking
      1169 Harlem Rd, Cheektowaga, NY 14227
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      1,902 SF

      Two-Story Office Building Available

      Two-story, 1902 SF office building with parking.
      2375 Union Rd, Buffalo, 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
    • $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
    • $1,250 /Mo

      Professional Office Suites Available

      Prime commercial location with flexible layouts for various businesses.
      932 French Rd, Cheektowaga, NY 14227
      View Details
    • $1,250 /Mo
      5,196 SF

      Professional Office Suites For Lease

      Six individual office suites available in two professional buildings.
      932 French Rd, Buffalo, NY 14227
      View Details
    • $16 SF/Yr

      Union Road Office/Flex Space

      Professional office/flex space for lease in a premier location.
      2355 Union Rd, Buffalo, NY 14227
      View Details
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    Cheektowaga, NY 14227-2231
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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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