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Property profile & analytics
OFF-MARKET
Estimated value
$1,920,000
Office buildings
2711 Transit Rd Elma, NY 14059-9041
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US63-4318233
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2012
Total area
11,860 SF
Lot
11.6 ac (505,296 SF)
Zoning code
COMM
APN
144200 136.03-1-20
UPID
US63-4318233
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Guaranteed Rate of Elma Loan Service Bank
-
Mastoras Counseling Crisis Center Medical Clinic
-
The Neat Project LLC (Bike/Boat/Book/etc) Store
-
Anastasia Atkins Foster Care Service Social Service Agency
-
Keith Neiswonger Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.44M
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.92M
Owner & transaction history
Commons On Transit LLC · 15 yrs held
Commons On Transit LLC
since 2011
2 recorded transactions
Zoning & alternative use
COMM · Elma, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+24.4%
Restaurant
$1.6M
+17.0%
Neighborhood: shopping center
$1.6M
+15.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,640,000
6.5%
$2,440,000
7%
$2,265,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,385,000
Current use
RETAIL STORES
$1,725,000
Change: +24% · Conversion: Moderate
RESTAURANT
$1,620,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,605,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,190,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.92M
Range $1.73M – $2.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$162 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$116,000
Assessed 2023
Previous assessed
$116,000
+0.0% YoY
Assessed land
$30,500
Assessed improvement
$85,500
Land market value
$1,089,286
Improvement market value
$3,053,571
Total market value
$4,142,857
Applied tax rate
144,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2012
Heating
NONE
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
11,860 SF
Lot
11.6 ac (505,296 SF)
Zoning code
COMM
APN
144200 136.03-1-20
UPID
US63-4318233
Jurisdiction
ERIE
Zoning & alternative use
COMM · Elma, NY
Zoning COMM · permitted uses
COMM · Elma, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.7M
RESTAURANT
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING Current
RETAIL STORES
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
11.6 ac
Current owner
From public records · entity-resolved
Commons On Transit LLC
Entity
Mailing address
2711 TRANSIT RD #114, ELMA, NY 14059-9041
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2011
$630,000
Commons On Transit LLC
Petri,anamone E
Grant Deed
—
—
—
Commons On Transit LLC
—
Deed Of Trust
related
$3,000,000 · Evans Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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