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    5565 Millersport Hwy Amherst, NY 14051
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    Property profile & analytics

    5565 Millersport Hwy Amherst, NY 14051

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    • Gas stations
    • 1,232 SF
    • 0.49 lot acres
    For Lease
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    Prime Land on Transit Road For Lease
    Contact for pricing

    Prime Land on Transit Road

    3.29 +/- acres with high visibility and traffic signal.

    5565 Millersport Hwy, Amherst, NY 14051
    View Listing
    Property ID
    US63-1995447
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Gas stations

    Property Details for 5565 Millersport Hwy

    Year built
    1950
    Lot size
    0.49 lot acres
    Property size
    1,232 SF
    Zone code
    GB
    Property type
    Gas stations
    APN
    142289 4.00-3-9
    APU
    14228940039

    Description

    This exceptional 3.29-acre redevelopment opportunity in East Amherst, NY, presents a unique chance to capitalize on a high-traffic location. Situated at the corner of Transit Road and Millersport Highway, this property boasts over 1,000 feet of frontage on Millersport Highway and benefits from a traffic signal providing excellent access. The site, formerly a gas station decommissioned over 20 years ago, has undergone significant environmental remediation, with approximately $200,000 invested in cleanup in 2012. A new fiberglass split 10,000-gallon gasoline storage tank was installed in 2000. The existing 1,225 square foot building is vacant, offering flexibility for redevelopment. Daily traffic counts exceed 37,259 vehicles, with Transit Road seeing approximately 14,752 and Millersport Highway registering approximately 22,507. This prime location offers unparalleled visibility and accessibility. The owner is open to reasonable offers and will consider financing options, including a potential mortgage to a qualified buyer with terms to be determined. A ground lease is also available. This property is ideal for a variety of commercial ventures seeking high visibility and significant traffic exposure.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Amherst
    County
    Erie
    State
    New York
    Longitude
    -78.6973
    Latitude
    43.0816
    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
    2019
    $4,299
    $27,000
    $22,400
    $49,400
    -
    $43,548
    $36,129
    $79,677

    Comparable in this City

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      2006 Dodge Rd

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      3,929 SF

      9700 Transit Rd

      SERVICE STATION WITH FOOD MART • 3,929 SF
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    • Value Estimation by Request
      1,454 SF

      1490 Dodge Rd

      GAS STATION • 1,454 SF
      1490 Dodge Rd, East Amherst, NY 14051-1324
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      1.40 Acres

      8279 Transit Rd

      PARKING LOT • 1.40 Acres
      8279 Transit Rd, East Amherst, NY 14051
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    • Value Estimation
      $4,580,000
      31,460 SF

      5817 Transit Rd

      VEHICLE SALES, RENTALS • 31,460 SF
      5817 Transit Rd, East Amherst, NY 14051-2609
      View Details

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      1,225 SF

      Corner Retail Space Available

      Retail space with high visibility and traffic counts.
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      1,080 SF

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      East Amherst Commercial Property For Sale

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      Transit Road Development Opportunity

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    Similar Nearby for Lease

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      Transit Road Auto Repair Shop

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      Transit Road Retail/Office Space

      1,420 SF retail/office space in high-traffic Transit Valley Plaza.
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      East Amherst Commercial Property For Rent

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      Transit Road Retail/Office Opportunity

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      Transit Road Retail/Office Space

      Retail and office spaces available in high-traffic Transit Valley Plaza.
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      View Details
    • Contact for pricing

      Transit Road Build-to-Suit Opportunity

      Prime commercial land available for ground lease or build-to-suit.
      9450 Transit Rd, East Amherst, NY 14051
      View Details
    View Listing
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    Amherst, NY 14051
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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.

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