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

    2991 Sheridan Dr Amherst, NY 14226-1916

    • Investment properties
    • 7,395 SF
    • 0.41 lot acres
    OFF-MARKET
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3803467
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2991 Sheridan Dr

    Year built
    1974
    Lot size
    0.41 lot acres
    Property size
    7,395 SF
    Zone code
    CTR-5
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    142289 67.10-1-1
    APU
    142289671011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $916,000
      Market price range: $379k - $989k
      AI Estimate
      $864,000
      Market price range: $357k - $951k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $705,000
      Current use
      RETAIL STORES
      $1,060,000
      Change: +50% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $960,000
      Change: +36% Conversion: Difficult
      RESTAURANT
      $915,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $860,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $720,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Amherst
    County
    Erie
    State
    New York
    Longitude
    -78.8223
    Latitude
    42.9804
    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
    2019
    $22,053
    $425,000
    $245,000
    $670,000
    -
    $685,484
    $395,161
    $1,080,645

    Comparable in this City

    • Value Estimation
      $1,865,000
      13,060 SF

      4001 Maple Rd

      STORE/OFFICE (MIXED USE) • 13,060 SF
      4001 Maple Rd, Buffalo, NY 14226-1029
      View Details
    • Value Estimation by Request
      3,972 SF

      803 Niagara Fls Blvd

      STORE/OFFICE (MIXED USE) • 3,972 SF
      803 Niagara Fls Blvd, Buffalo, NY 14226-2007
      View Details
    • Value Estimation by Request
      2,311 SF

      2102 Kensington Ave

      STORE/OFFICE (MIXED USE) • 2,311 SF
      2102 Kensington Ave, Amherst, NY 14226-4808
      View Details
    • Value Estimation by Request
      1,152 SF

      3944 Bailey Ave

      STORE/OFFICE (MIXED USE) • 1,152 SF
      3944 Bailey Ave, Buffalo, NY 14226
      View Details
    • Value Estimation by Request
      2,503 SF

      3604 Main St

      STORE/OFFICE (MIXED USE) • 2,503 SF
      3604 Main St, Amherst, NY 14226-3123
      View Details
    • Value Estimation by Request
      3,200 SF

      255 Grover Cleveland Hwy

      STORE/OFFICE (MIXED USE) • 3,200 SF
      255 Grover Cleveland Hwy, Amherst, NY 14226-3213
      View Details

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      Buffalo Restaurant - Turnkey Opportunity

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      Three-unit property in Amherst with versatile income potential.
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      Multi-family duplex ideal for owner-occupants or investors near University.
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      Professional Building Near Sheridan Drive

      Professional building with parking near Sheridan Drive and Sweet Home.
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    Similar Nearby for Lease

    • $21 SF/Yr
      10,454 SF

      Amherst Retail Space For Lease

      Prime Amherst location, 10,454 sq ft available.
      1185 Sweet Home Rd, Amherst, NY 14226
      View Details
    • $18 SF/Yr
      15,000 SF

      Suburban Retail Space for Lease

      Retail space available in a neighborhood plaza with diverse tenants.
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      View Details
    • $18 SF/Yr

      Amherst Office Building with Atrium

      Two-story office building with interior atrium and ample parking.
      350 Alberta Dr, Buffalo, NY 14226
      View Details
    • Contact for pricing

      Move-in Ready Office Space

      Available office space with immediate occupancy and ample parking.
      2140 Eggert Rd, Buffalo, NY 14226
      View Details
    • Contact for pricing
      4,711 SF

      Office Suites For Lease

      Office suites available in various configurations from 850 to 4,711 SF.
      315 Alberta Dr, Buffalo, NY 14226
      View Details
    • $11 SF/Yr
      9,635 SF

      Renovated Commercial Space with Warehouse

      Adaptable retail, office, and warehouse space in high-visibility location.
      4336 Bailey Ave, Buffalo, NY 14226
      View Details
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    Amherst, NY 14226-1916
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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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