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    Property profile & analytics

    2959 Genesee St Cheektowaga, NY 14225-2685

    • Office buildings
    • 9,079 SF
    • 0.71 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3048653
    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

    • Roto-Rooter Plumbing & Water Cleanup / Plumbing Service / General Contractor

    Property Details for 2959 Genesee St

    Year built
    1970
    Lot size
    0.71 lot acres
    Property size
    9,079 SF
    Zone code
    05C
    Property type
    Office buildings
    APN
    143089 91.18-10-3.1
    APU
    14308991181031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7752
    Latitude
    42.924
    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
    $115,000
    $345,000
    $460,000
    -
    $126,374
    $379,121
    $505,495

    Comparable in this City

    • Value Estimation
      $10,510,000
      109,170 SF

      400 Airborne Pkwy

      OFFICE BUILDING • 109,170 SF
      400 Airborne Pkwy, Buffalo, NY 14225-1433
      View Details
    • Value Estimation
      $3,975,000
      25,900 SF

      295 Cayuga Rd

      OFFICE BUILDING • 25,900 SF
      295 Cayuga Rd, Buffalo, NY 14225
      View Details
    • Value Estimation by Request
      1,500 SF

      3775 Genesee St

      OFFICE BUILDING • 1,500 SF
      3775 Genesee St, Cheektowaga, NY 14225-3539
      View Details
    • Value Estimation
      $11,280,000
      69,255 SF

      3085-3089 Harlem Rd

      PROFESSIONAL BUILDING • 69,255 SF
      3085-3089 Harlem Rd, Buffalo, NY 14225
      View Details
    • Value Estimation
      $695,000
      16,348 SF

      80 Aero Dr

      OFFICE BUILDING • 16,348 SF
      80 Aero Dr, Buffalo, NY 14225-1402
      View Details
    • Value Estimation
      $925,000
      18,800 SF

      495 Aero Dr

      OFFICE BUILDING • 18,800 SF
      495 Aero Dr, Cheektowaga, NY 14225-1463
      View Details

    Similar Nearby for Sale

    • $1,000,000
      11,808 SF

      Buffalo Office Building For Sale

      Office building with 11,808 square feet of space available.
      45 Anderson Rd, Buffalo, NY 14225
      View Details
    • $299,900

      Single-Story Office Building for Sale

      Well-maintained office building with 19 offices and ample parking.
      505 Aero Dr, Cheektowaga, NY 14225
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    • $899,999

      Harlem Road Office Building For Sale

      Office and mixed-use building with high visibility and 100% occupancy.
      3435 Harlem Rd, Cheektowaga, NY 14225
      View Details
    • $399,000

      Genesee Street Office Building

      Well-maintained office building in a desirable location with ample parking.
      3409 Genesee St, Buffalo, NY 14225
      View Details
    • $1,000,000
      11,760 SF

      Prime Commercial Investment Opportunity

      High-visibility commercial building with diversified income and strong upside potential.
      3435 Harlem Rd, Buffalo, NY 14225
      View Details
    • $299,777
      Pending

      Converted Office Building For Sale

      Office building with high visibility and easy access to highways.
      3517 Genesee St, Cheektowaga, NY 14225
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Free-Standing Building Near Airport

      One-story, 3,780 SF building with parking near Buffalo Airport.
      1505-1517 Cleveland Dr, Cheektowaga, NY 14225
      View Details
    • $12 SF/Yr
      1,000 SF

      Modern Office Space Available

      Well-maintained office space with modern facilities and ample parking.
      305 Cayuga Rd, Buffalo, NY 14225
      View Details
    • Contact for pricing

      Union Road Retail/Office Space Available

      Retail and office spaces available for lease on Union Road.
      3800 Union Rd, Cheektowaga, NY 14225
      View Details
    • Contact for pricing

      Industrial Space Near Walden Galleria

      15,000 SF warehouse/office space available for lease.
      51 Anderson Rd, Cheektowaga, NY 14225
      View Details
    • $18 SF/Yr
      2,000 SF

      High-Traffic Corner Office Space

      Office space for lease with high visibility and ample parking.
      5100 Genesee St, Buffalo, NY 14225
      View Details
    • $13 SF/Yr

      Transit Road Retail/Office Space

      High-traffic retail/office space available on Transit Road.
      6348 Transit Rd, Cheektowaga, NY 14225
      View Details
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    2959 Genesee St
    Cheektowaga, NY 14225-2685
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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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