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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Industrial properties
41 Ward Rd, Lancaster, NY 14086-9779
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-1350368
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1992
Total area
11,200 SF
Lot
1 ac (43,560 SF)
Zoning code
LI
APN
145289 95.00-4-9.115
UPID
US63-1350368
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
LifeLamp DETECTOR Corporate Office
-
Hayden Electrical Systems Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
$755k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$805k
Owner & transaction history
Altec Air LLC · 3 yrs held
Altec Air LLC
since 2023
Last sale
$800,000
2 recorded transactions
Zoning & alternative use
LI · Lancaster, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+236.0%
Commercial (general)
$1.1M
+190.9%
Auto repair, garage
$1.1M
+189.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$830,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
$820,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,310,000
Change: +236% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,135,000
Change: +191% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,125,000
Change: +189% · Conversion: Easy
WAREHOUSE, STORAGE
$550,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$805k
Range $725k – $886k · ±10% · vs last sale $800k (Mar 3 2023)
Last sale anchor
$800k
Mar 3 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$72 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$465,000
Assessed 2023
Previous assessed
$465,000
+0.0% YoY
Assessed land
$58,000
Assessed improvement
$407,000
Land market value
$77,333
Improvement market value
$542,667
Total market value
$620,000
Applied tax rate
145,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1992
Heating
NONE
Buildings
1
Stories
1
Total area
11,200 SF
Lot
1 ac (43,560 SF)
Zoning code
LI
APN
145289 95.00-4-9.115
UPID
US63-1350368
Jurisdiction
ERIE
Zoning & alternative use
LI · Lancaster, NY
Zoning LI · permitted uses
LI · Lancaster, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lancaster. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$550,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Stories
1
Buildings
1
Lot
1 ac
Current owner
From public records · entity-resolved
Altec Air LLC
Entity
Free & Clear · 3 yrs held
Mailing address
210 INVERNESS CTR DR, BIRMINGHAM, AL 35242-4834
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2023
$800,000
Altec Air LLC
Michael J Arno
Deed
—
Jun 3, 2014
$350,000
Arno,michael Family Trust
41 Ward Road LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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