Property profile

42 Professional Pkwy Lockport, NY 14094

FOR LEASE
Office buildings
Property ID
US63-3375161
2,560 SF 0.4 ac lot Built 1992
Individually Owned 6-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This single-tenant, 2,560 sq ft Class B office building in Lockport, NY, is ideally suited for medical or executive office use. Built in 2002, the one-story building features an open reception area, six large executive offices, open workspace, kitchen, storage, and restrooms. Ample natural light and a convenient rear parking lot enhance its appeal. The property is part of a 19-building complex, offering similar units ranging from 2,400 to 3,600+ sq ft. Each building sits on its own tax parcel and can be leased or sold separately. Lots range from 0.35 to 1.19 acres. The complex boasts multiple access points and abundant parking. Its location offers easy access to Route 78, Lockport Memorial Hospital, and a variety of retail, dining, and hotel options. The property is situated in Niagara County, conveniently located near Niagara Falls and Buffalo. The building's wood frame, brick exterior, and asphalt shingle roof are key features. The zoning is commercial. This presents a unique opportunity to acquire a well-maintained office building in a thriving location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1992
Total area 2,560 SF
Lot 0.4 ac (17,424 SF)
Zoning code 05 - COMMERCIAL
APN 290900 123.08-4-10
UPID US63-3375161

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician

Location

42 Professional Pkwy Lockport, NY 14094
Lockport metro Census 23902 BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$265k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$265k

Owner & transaction history

since 2020
3 recorded transactions
2020
$11.6M
2015
Price N/A
2014
Price N/A

Zoning & alternative use

05 - COMMERCIAL · Lockport, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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