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    368 Pleasant View Dr Lancaster, NY 14086

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    368 Pleasant View Dr Lancaster, NY 14086

    View on Map
    • Office buildings
    • 59,804 SF
    • 12.43 lot acres
    For Sale
    $4,950,000
    View Listing →
    Lancaster Office Property on Acres For Sale
    $4,950,000
    60,000 SF

    Lancaster Office Property on Acres

    Two-story, 59,804 SF LEED Certified office on 119 acres.

    368 Pleasant View, Lancaster, NY 14086
    View Listing
    Property ID
    US63-3840468
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ecology and Environment, Inc. / Engineering Consultant
    • O-AT-KA Milk Products - Corporate Office / Corporate Office / Business Park
    • Upstate Niagara Cooperative, Inc. / Food Processing Plant / Factory
    • E & E Drilling & Testing Inc / Construction Company / General Contractor

    Property Details for 368 Pleasant View Dr

    Year built
    1988
    Lot size
    12.43 lot acres
    Property size
    59,804 SF
    Property type
    Office buildings
    APN
    145289 93.00-2-30.2
    APU
    14528993002302

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,245,000
      ML approach
      $5,075,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,339,000
      Market price range: $4.34M - $10.1M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,985,000
      Current use
      COMMERCIAL (GENERAL)
      $6,050,000
      Change: -13% Conversion: Easy
      AUTO REPAIR, GARAGE
      $6,015,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.6597
    Latitude
    42.9333
    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
    $270,000
    $2,330,000
    $2,600,000
    -
    $360,003
    $3,106,697
    $3,466,700

    Comparable in this City

    • Value Estimation
      $580,000
      5,169 SF

      5775 Broadway St

      OFFICE BUILDING • 5,169 SF
      5775 Broadway St, Lancaster, NY 14086-2456
      View Details
    • Value Estimation by Request
      1,560 SF

      3725 Walden Ave

      OFFICE BUILDING • 1,560 SF
      3725 Walden Ave, Lancaster, NY 14086-1482
      View Details
    • Value Estimation by Request
      3,200 SF

      1965 Como Park Blvd

      PROFESSIONAL BUILDING • 3,200 SF
      1965 Como Park Blvd, Lancaster, NY 14086-3068
      View Details
    • Value Estimation by Request
      800 SF

      70 Sheldon Ave

      OFFICE BUILDING • 800 SF
      70 Sheldon Ave, Lancaster, NY 14086
      View Details
    • Value Estimation
      $830,000
      6,435 SF

      5755 Broadway St

      OFFICE BUILDING • 6,435 SF
      5755 Broadway St, Lancaster, NY 14086-2357
      View Details
    • Value Estimation
      $3,830,000
      25,268 SF

      1763 Como Park Blvd

      OFFICE BUILDING • 25,268 SF
      1763 Como Park Blvd, Lancaster, NY 14086
      View Details

    Similar Nearby for Sale

    • $4,950,000

      Lancaster Office Property on Acres

      Two-story, 59,804 SF LEED Certified office on 119 acres.
      368 Pleasant View Dr, Lancaster, NY 14086
      View Details
    • $500,000

      Renovated Office Building in Lancaster

      Extensively renovated office building with parking in historic village downtown.
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      6,000 SF

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      Two 3,000 SF office buildings for sale near airport.
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      2,337 SF

      Broadway Street Auto Shop Opportunity

      Auto shop with detached home and high-visibility frontage.
      6526 Broadway St, Lancaster, NY 14086
      View Details
    • Contact for pricing
      1,600 SF

      Lancaster Office or Retail Opportunity

      1,600+/- sq ft building suitable for office or retail.
      5294 Broadway, Lancaster, NY 14086
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    • $3,500,000

      Newer Industrial/Commercial Building For Sale

      32,500 SF industrial/commercial building with office space in Lancaster, NY.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Former Masons' Lodge Stone Building

      9,160+/- SF stone building with excellent architecture and parking.
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      Medical Office Suite Available

      3,004+ sf medical office suite available for rent.
      4893 Transit Rd, Lancaster, NY 14086
      View Details
    • Contact for pricing
      150,000 SF

      Proposed Industrial Building For Lease

      Proposed 150,000 SF industrial building for lease in Lancaster, NY.
      4100 Walden Ave, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Walden Avenue Warehouse Space

      11,600 sqft warehouse space available for rent in Buffalo.
      3825 Walden Ave, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Shovel-Ready Site Near Airport

      Certified site near Buffalo Airport for immediate development.
      4700 Genesee St, Cheektowaga, NY 14086
      View Details
    View Listing
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    368 Pleasant View Dr
    Lancaster, NY 14086
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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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    368 Pleasant View Dr, Lancaster, NY, 14086

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