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

    285 Market St Lockport, NY 14094

    • Office buildings
    • 9,837 SF
    • 1.17 lot acres
    For Sale
    View listing
    $475,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2025685
    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

    • Chemical Design, Inc. / Engineer / Chemical Engineering Service

    Property Details for 285 Market St

    Year built
    1981
    Lot size
    1.17 lot acres
    Property size
    9,837 SF
    Zone code
    B1
    Property type
    Office buildings
    APN
    290900 109.40-2-41
    APU
    29090010940241

    Description

    This exceptional 9,837 square foot executive office building in Lockport, NY, presents a compelling investment opportunity with a 13.50% cap rate. Located at 285 Market Street, this Class B property boasts a desirable location overlooking the Joseph A. Scapalletti Bridge and adjacent to the Lockport Locks. Built in 1981 and renovated in 2010, the building features an open floor plan with 16-foot ceilings, situated on a 1.16-acre lot with ample on-site paved parking for 50+ vehicles. The property is currently under a NNN lease to an engineering firm, expiring in April 2025. The building sits on a concrete slab and benefits from recently updated mechanical and electrical systems. Its versatile zoning (Office) makes it suitable for a variety of uses, including showroom, attorney offices, financial services, call centers, light manufacturing, and more. The building's prime location and strong leasehold provide a solid foundation for a lucrative investment. This is a must-see property for discerning investors seeking a high-return opportunity in a desirable location. The property features a well-maintained structure and is ready for immediate occupancy or continued lease income.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $319,000
      Market price range: $320k - $991k
      AI Estimate
      $319,000
      Market price range: $320k - $952k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.6844
    Latitude
    43.1763
    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
    0
    $0.00
    $36,500
    $348,500
    $385,000
    -
    $36,500
    $348,500
    $385,000

    Comparable in this City

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      637 Davison Rd

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    • Value Estimation
      $260,000
      7,396 SF

      6560 Dysinger Rd

      OFFICE BUILDING • 7,396 SF
      6560 Dysinger Rd, Lockport, NY 14094-7970
      View Details
    • Value Estimation
      $345,000
      17,419 SF

      111 Main St

      OFFICE BUILDING • 17,419 SF
      111 Main St, Lockport, NY 14094-3718
      View Details
    • Value Estimation
      $470,000
      33,754 SF

      1 Lcks Plz

      OFFICE BUILDING • 33,754 SF
      1 Lcks Plz, Lockport, NY 14094-3652
      View Details
    • Value Estimation
      $90,000
      2,560 SF

      32 Professional Pkwy

      OFFICE BUILDING • 2,560 SF
      32 Professional Pkwy, Lockport, NY 14094-5366
      View Details
    • Value Estimation
      $85,000
      3,524 SF

      140 Professional Pkwy

      OFFICE BUILDING • 3,524 SF
      140 Professional Pkwy, Lockport, NY 14094-5368
      View Details

    Similar Nearby for Sale

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      Well-Maintained Mixed-Use Building For Sale

      9,900 SF mixed-use building with parking for 50+ cars.
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      Leased Office Building in Lockport

      2,741 SF building with two suites, fully leased.
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    • $1,900,000
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      Two buildings totaling 48,180 sq ft in Lockport's CBD.
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    Similar Nearby for Lease

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      Lockport Professional Office Suites

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    • $9 SF/Yr
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      Davison Court Office Park

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      Visible Office Space For Lease

      Office space for lease on a busy thoroughfare.
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    • $14 SF/Yr
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      Lockport Office Space Available

      Office space available for lease in Lockport, New York.
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    • $12 SF/Yr
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      Lockport Office Space Available

      Office space for rent in Lockport, NY, 1118 square feet.
      135 Main St, Lockport, NY 14094
      View Details
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    285 Market St
    Lockport, NY 14094
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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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