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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Turn key restaurants
5240 Broadway St, Lancaster, NY 14086-2022
Entity Owned
18-yr Hold
Free & Clear
Property ID
US63-6040929
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1996
Total area
6,235 SF
Lot
1.26 ac (54,886 SF)
Zoning code
COMM
APN
145203 104.19-5-5.111
UPID
US63-6040929
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$750k
Owner & transaction history
Teflemis LLC · 18 yrs held
Teflemis LLC
since 2007
3 recorded transactions
Zoning & alternative use
COMM · Lancaster, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$905,000
+6.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$850,000
Current use
RETAIL STORES
$905,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$845,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$730,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$750k
Range $675k – $825k · ±10%
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
$120 / 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
$850,000
Assessed 2023
Previous assessed
$850,000
+0.0% YoY
Assessed land
$250,000
Assessed improvement
$600,000
Land market value
$333,324
Improvement market value
$799,976
Total market value
$1,133,300
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
6,235 SF
Lot
1.26 ac (54,886 SF)
Zoning code
COMM
APN
145203 104.19-5-5.111
UPID
US63-6040929
Jurisdiction
ERIE
Zoning & alternative use
COMM · Lancaster, NY
Zoning COMM · permitted uses
COMM · 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
RESTAURANT Current
Est. value
$850,000
RETAIL STORES
Est. value
$905,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$845,000
OFFICE BUILDING
Est. value
$730,000
RESTAURANT Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1996
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.26 ac
Current owner
From public records · entity-resolved
Teflemis LLC
Entity
Free & Clear · 18 yrs held
Mailing address
5240 BROADWAY ST, LANCASTER, NY 14086-2022
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2007
—
Teflemis LLC
Aronis,nikolaos G
Warranty Deed
related
—
—
—
G & S Property Holdings LLC
—
Loan Modification
related
$650,000 · M&t Bk
—
—
Teflemis LLC
—
Deed Of Trust
related
$750,000 · Manufacturers Traders & Trust
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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