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    2540 South Park Ave Lackawanna, NY 14218
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    Property profile & analytics

    2540 South Park Ave Lackawanna, NY 14218

    View on Map
    • Gas stations
    • 1,920 SF
    • 0.83 lot acres
    For Sale
    $650,000
    View Listing →
    Remodeled Gas Station C-Store For Sale
    $650,000

    Remodeled Gas Station C-Store

    Fully operational gas station and convenience store in Lackawanna, NY.

    2540 South Park Avenue, Lackawanna, NY 14218
    View Listing
    Property ID
    US63-2904561
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ATM / Atm
    • Western Union / Bank / Credit Union
    • Mobil / Gas Station

    Property Details for 2540 South Park Ave

    Year built
    1920
    Lot size
    0.83 lot acres
    Property size
    1,920 SF
    Zone code
    NC
    Property type
    Gas stations
    APN
    140900 142.23-3-1
    APU
    1409001422331

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8236
    Latitude
    42.8308
    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
    $73,300
    $386,700
    $460,000
    -
    $92,788
    $489,512
    $582,300

    Comparable in this City

    • Value Estimation
      $1,915,000
      1,472 SF

      2080 Abbott Rd

      SERVICE STATION WITH FOOD MART • 1,472 SF
      2080 Abbott Rd, Buffalo, NY 14218-3647
      View Details
    • Value Estimation by Request
      2,296 SF

      1329 Abbott Rd

      SERVICE STATION WITH FOOD MART • 2,296 SF
      1329 Abbott Rd, Buffalo, NY 14218-1909
      View Details
    • Value Estimation
      $690,000
      8,297 SF

      2368 Hamburg Tpke

      GAS STATION • 8,297 SF
      2368 Hamburg Tpke, Buffalo, NY 14218-2522
      View Details
    • Value Estimation
      $985,000
      5,200 SF

      2530 Hamburg Tpke

      SERVICE STATION WITH FOOD MART • 5,200 SF
      2530 Hamburg Tpke, Buffalo, NY 14218-2508
      View Details
    • Value Estimation by Request
      1,260 SF

      2646 Hamburg Tpke

      GAS STATION • 1,260 SF
      2646 Hamburg Tpke, Buffalo, NY 14218-3311
      View Details
    • Value Estimation
      $2,325,000
      1,624 SF

      1361 Abbott Rd

      SERVICE STATION WITH FOOD MART • 1,624 SF
      1361 Abbott Rd, Buffalo, NY 14218-2054
      View Details

    Similar Nearby for Sale

    • $650,000

      Remodeled Gas Station C-Store

      Fully operational gas station and convenience store in Lackawanna, NY.
      2540 South Park Ave, Lackawanna, NY 14218
      View Details
    • $449,900
      1,770 SF

      Turn-Key Auto Repair Business

      Established auto repair business for sale with equipment and land.
      2230 Abbott Rd, Lackawanna, NY 14218
      View Details
    • $139,900

      Lackawanna Garage with Four Bays

      1,682 SF garage with four bays on 8,033 SF lot.
      50 Leo Pl, Lackawanna, NY 14218
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,324 SF

      Retail Space in Lackawanna, NY

      Retail space for rent in Lackawanna, NY.
      1234 Abbott Rd, Lackawanna, NY 14218
      View Details
    • Contact for pricing

      Freestanding Commercial Property on Ridge Road

      Former restaurant with redevelopment potential in Lackawanna's commercial corridor.
      1125 Ridge Rd, Buffalo, NY 14218
      View Details
    • Contact for pricing

      Retail Space in Lackawanna

      Retail space in a vibrant Lackawanna community.
      954 Ridge Rd, Lackawanna, NY 14218
      View Details
    • $350,000
      7,338 SF

      Restaurant Building at South Park

      Restaurant building in high-traffic area with outdoor patio.
      2711 S Park Ave, Buffalo, NY 14218
      View Details
    • $2 SF/Yr

      31 Acre Fenced Industrial Property

      Fenced 31-acre industrial property with two buildings and heavy power.
      300 Commerce Dr, Lackawanna, NY 14218
      View Details
    View Listing
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    Lackawanna, NY 14218
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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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