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

    495 Aero Dr Cheektowaga, NY 14225-1463

    • Office buildings
    • 18,800 SF
    • 1.66 lot acres
    OFF-MARKET
    Last Sale
    Mar 26, 2024
    $922,934
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0125696
    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 495 Aero Dr

    Year built
    1967
    Lot size
    1.66 lot acres
    Property size
    18,800 SF
    Zone code
    05C
    Property type
    Office buildings
    APN
    143089 92.02-1-2
    APU
    143089920212

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $925,000
      ML approach
      $925,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $744,000
      Market price range: $378k - $2.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheektowaga
    County
    Erie
    State
    New York
    Longitude
    -78.7217
    Latitude
    42.9429
    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
    $90,000
    $960,000
    $1,050,000
    -
    $98,901
    $1,054,945
    $1,153,846

    Comparable in this City

    • Value Estimation
      $5,430,000
      54,466 SF

      80 Holtz Dr

      OFFICE BUILDING • 54,466 SF
      80 Holtz Dr, Cheektowaga, NY 14225-1425
      View Details
    • Value Estimation
      $2,740,000
      30,880 SF

      4285 Genesee St

      OFFICE BUILDING • 30,880 SF
      4285 Genesee St, Buffalo, NY 14225-1943
      View Details
    • Value Estimation
      $1,120,000
      25,500 SF

      4245 Un Rd

      OFFICE BUILDING • 25,500 SF
      4245 Un Rd, Cheektowaga, NY 14225-5040
      View Details
    • Value Estimation
      $780,000
      8,640 SF

      470 Cayuga Rd

      OFFICE BUILDING • 8,640 SF
      470 Cayuga Rd, Cheektowaga, NY 14225-1310
      View Details
    • Value Estimation
      $10,900,000
      108,435 SF

      300 Airborne Pkwy

      OFFICE BUILDING • 108,435 SF
      300 Airborne Pkwy, Buffalo, NY 14225-1482
      View Details
    • Value Estimation
      $575,000
      13,305 SF

      525 Aero Dr

      OFFICE BUILDING • 13,305 SF
      525 Aero Dr, Buffalo, NY 14225-1443
      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
      3,931 SF

      Single-Story Office Building for Sale

      Well-maintained office building with 19 offices and ample parking.
      505 Aero Dr, Buffalo, NY 14225
      View Details
    • $899,999
      11,760 SF

      Harlem Road Office Building For Sale

      Office and mixed-use building with high visibility and 100% occupancy.
      3435 Harlem Rd, Buffalo, NY 14225
      View Details
    • $399,000
      5,228 SF

      Genesee Street Office Building

      Well-maintained office building in a desirable location with ample parking.
      3409 Genesee St, Buffalo, NY 14225
      View Details
    • $270,000
      1,936 SF

      Genesee Street Mixed-Use Opportunity

      Two-story office building with garage and ample parking.
      3381 Genesee St, Cheektowaga, NY 14225
      View Details
    • $299,777

      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
      3,780 SF

      Free-Standing Building Near Airport

      One-story, 3,780 SF building with parking near Buffalo Airport.
      1505-1517 Cleveland Dr, Buffalo, NY 14225
      View Details
    • Contact for pricing
      600 SF

      Office Space Near Airport

      Office suites available near Buffalo/Niagara International Airport.
      132 Cayuga Rd, Buffalo, NY 14225
      View Details
    • Contact for pricing

      Office Space with Security Service

      Office space featuring a kitchen, conference room, and security service.
      3290 Genesee St, 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

      Industrial Space Near Walden Galleria

      15,000 SF warehouse/office space available for lease.
      51 Anderson Rd, Buffalo, NY 14225
      View Details
    • $750 /Mo

      Union Road Retail/Office Space Available

      Retail and office spaces available for lease on Union Road.
      3800 Union Rd, Buffalo, NY 14225
      View Details
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    Cheektowaga, NY 14225-1463
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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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