521 East Ave Lockport, NY 14094
- Commercial real estate
- 203,000 SF
Current Use by Public Records
- Adam T. Mark, RPh / Pharmacy
- Patel Simal J MD / Doctor
- Dr. Michael Torres, MD / Doctor
- Boulos E John MD / Doctor
- Mullaney Dennis T MD / Doctor
Property Details for 521 East Ave
- Property size
- 203,000 SF
- Property type
- Commercial real estate
Description
Exceptional redevelopment opportunity in Lockport, NY. This 203,000 square foot, three-building office complex sits on 6.19 acres and offers significant potential for repurposing. Currently occupied by Eastern Niagara Hospital, the property provides a buyer/developer with approximately 18 months to plan for redevelopment before the hospital's relocation. The buildings, constructed in 1936, 1960, and 1980, feature a mix of brick and concrete construction across three and five stories, totaling eleven stories. The property includes ample parking with approximately 300 spaces. Zoned R-1 (Residential Single Family), the property enjoys a legal non-conforming use. Its location in a single-family neighborhood, approximately one mile from Lockport's downtown core, presents a unique opportunity for a variety of uses, including senior housing, a nursing home, apartments, offices, and retail space. The substantial size and existing infrastructure make this a compelling investment prospect. The asking price is $1,900,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lockport
- County
- Niagara
- State
- New York
- Longitude
- -78.6720173
- Latitude
- 43.1778424
