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

    2885 Commerce Dr Alden, NY 14004-8538

    • Manufacturing properties
    • 10,200 SF
    • 2.46 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2024
    $895,000
    Value Estimations
    $775,000
    Show details
    Cap Rate Potential
    5%
    Manufacturing properties
    Location Intelligence
    Property ID
    US63-3355288
    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

    • Hubco Inc / Tool Manufacturer

    Property Details for 2885 Commerce Dr

    Year built
    2000
    Lot size
    2.46 lot acres
    Property size
    10,200 SF
    Zone code
    M-2
    Property type
    Manufacturing properties
    APN
    142089 96.00-4-7.1
    APU
    1420899600471

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $895,000
      ML approach
      $895,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $745,000
      6.5%
      $690,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $595,000
      Market price range: $152k - $595k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,480,000
      RESTAURANT
      $1,395,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,380,000
      OFFICE BUILDING
      $1,190,000
      AUTO REPAIR, GARAGE
      $1,025,000
      COMMERCIAL (GENERAL)
      $845,000
      WAREHOUSE, STORAGE
      $600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Alden
    County
    Erie
    State
    New York
    Longitude
    -78.5717
    Latitude
    42.9302
    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
    $89,600
    $573,400
    $663,000
    -
    $141,103
    $902,997
    $1,044,100

    Comparable in this City

    • Value Estimation
      $5,715,000
      76,600 SF

      11980 Walden Ave

      MANUFACTURING (LIGHT) • 76,600 SF
      11980 Walden Ave, Alden, NY 14004-9698
      View Details
    • Value Estimation
      $515,000
      36,014 SF

      2771 Commerce Dr

      MANUFACTURING (LIGHT) • 36,014 SF
      2771 Commerce Dr, Alden, NY 14004-8542
      View Details
    • Value Estimation
      $420,000
      108,093 SF

      11900 Walden Ave

      MANUFACTURING (LIGHT) • 108,093 SF
      11900 Walden Ave, Alden, NY 14004-9706
      View Details
    • Value Estimation
      $100,000
      12,500 SF

      11668 Broadway St

      BULK STORAGE, TANKS • 12,500 SF
      11668 Broadway St, Alden, NY 14004-8603
      View Details
    • Value Estimation
      $235,000
      300 SF

      11145 Fairview Dr

      WASTE DISPOSAL, SEWAGE • 300 SF
      11145 Fairview Dr, Alden, NY 14004
      View Details
    • Value Estimation
      $225,000
      2,490 SF

      1427 2nd Rod Rd

      WAREHOUSE, STORAGE • 2,490 SF
      1427 2nd Rod Rd, Alden, NY 14004-9535
      View Details

    Similar Nearby for Sale

    • $295,000
      46.60 Acres

      Alden, NY: 46 Acres Commercial Land

      Prime Alden acreage, multi-use potential.
      0 Genesee St, Alden, NY 14004
      View Details
    • $300,000
      1,800 SF

      1,500 SF Commercial Property

      1,500 SF commercial property on 75 acres for sale.
      11625 Broadway St, Alden, NY 14004
      View Details
    • Contact for pricing

      Alden Industrial Land Opportunity

      27.5 acre industrial land with development approvals.
      11156 Walden Ave, Alden, NY 14004
      View Details
    • $300,000
      1,800 SF

      Alden Warehouse: Prime Location

      1,800 SF Warehouse, .75 Acres
      11625 Broadway St, Alden, NY 14004
      View Details
    • $550,000
      3 SF

      Prime Commercial Land in Alden

      3.46-acre commercial parcel in a growing corridor.
      13447 Broadway St, Alden, NY 14004
      View Details
    • Contact for pricing

      Commercially Zoned Vacant Land

      3.7 acres of commercially zoned land in Alden, NY.
      12165 Walden Ave, Alden, NY 14004
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      15,000 SF

      Modern Industrial Warehouse - Erie County

      15,000 SF Warehouse, 2 Acres, New Construction
      11668 Broadway St, Alden, NY 14004
      View Details
    • Contact for pricing
      4,200 SF

      Industrial Space with Truck Docks

      Industrial property featuring truck docks and office space for lease.
      11075 Walden Ave, Alden, NY 14004
      View Details
    • Contact for pricing
      7,195 SF

      Retail Space in Alden, NY

      Retail property available for lease in Alden, New York.
      13119-13059 Broadway St, Alden, NY 14004
      View Details
    • Contact for pricing

      Turn-Key Restaurant Space Available

      Restaurant space in shopping center anchored by Tops Markets.
      12775 Broadway St, Alden, NY 14004
      View Details
    • Contact for pricing
      1,140 SF

      Restaurant Space in Alden Plaza

      Former restaurant space available in a busy shopping center.
      12759-12775 Broadway St, Alden, NY 14004
      View Details
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    2885 Commerce Dr
    Alden, NY 14004-8538
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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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