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Property profile & analytics
FOR LEASE
Community centers
280 E Fairmount Ave, Lakewood, NY 14750
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-0189259
For Lease
1 / 2
$12 SF/Yr
280 E Fairmount Ave, Lakewood, NY 14750
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1991
Total area
51,000 SF
Lot
12.28 ac (534,917 SF)
Zoning code
05 - COMMERCIAL
APN
062201 385.12-4-19.1
UPID
US63-0189259
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
-
Valu Home Centers Building Supply Hardware & Home Improvement
-
Gamers Haven Electronics & Wireless Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.84M
Owner & transaction history
Mcfadden Fairmount Pr LLC · 3 yrs held
Mcfadden Fairmount Pr LLC
since 2022
Last sale
$2.9M
1 recorded transaction
Zoning & alternative use
05 - COMMERCIAL · Lakewood, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.7M
+377.4%
Office building
$4.1M
+316.9%
Medical building
$3.2M
+227.7%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$2,810,000
ML approach
$2,755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,725,000
Change: +377% · Conversion: Difficult
OFFICE BUILDING
$4,125,000
Change: +317% · Conversion: Moderate
MEDICAL BUILDING
$3,240,000
Change: +228% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,715,000
Change: +174% · Conversion: Difficult
RETAIL STORES
$2,260,000
Change: +128% · Conversion: Easy
Blend value · Realmo final
$2.84M
Range $2.56M – $3.12M · ±10% · vs last sale $2.90M (Dec 2 2022)
Last sale anchor
$2.90M
Dec 2 2022
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
$56 / 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 2020Property tax & assessments
Tax year 2020
Assessed value
$1,450,000
Assessed 2023
Previous assessed
$1,450,000
+0.0% YoY
Assessed land
$406,800
Assessed improvement
$1,043,200
Land market value
$607,170
Improvement market value
$1,557,030
Total market value
$2,164,200
Applied tax rate
62,201.0000
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1991
Heating
NONE
Stories
1
Total area
51,000 SF
Lot
12.28 ac (534,917 SF)
Zoning code
05 - COMMERCIAL
APN
062201 385.12-4-19.1
UPID
US63-0189259
Jurisdiction
CHAUTAUQUA
Zoning & alternative use
05 - COMMERCIAL · Lakewood, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Lakewood, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.7M
OFFICE BUILDING
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.2M
WAREHOUSE, STORAGE
Est. value
$2.7M
RETAIL STORES
Est. value
$2.3M
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1991
Heating
NONE
Stories
1
Lot
12.28 ac
Current owner
From public records · entity-resolved
Mcfadden Fairmount Pr LLC
Entity
Mailing address
PO BOX 266, LAKEWOOD, NY 14750-0266
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2022
$2,900,000
Mcfadden Fairmount Pr LLC
Valport Properties LLC
Deed
$2,320,000 · Community 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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