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    5897 S Transit Rd Lockport, NY 14094
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    5897 S Transit Rd Lockport, NY 14094

    View on Map
    • Strip malls
    • 140,048 SF
    • 13.60 lot acres
    For Lease
    $2,555,000
    View Listing →
    Lockport Retail Corridor Opportunity For Lease
    $2,555,000

    Lockport Retail Corridor Opportunity

    Retail and warehouse spaces available in Lockport shopping center.

    5897 S Transit Rd, Lockport, NY 14094
    View Listing
    Property ID
    US63-1686377
    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

    • POP! Party Supply- 2024 Graduation Headquarters / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Kraydo Organics / Department Store
    • NYS Rapid Test Lockport / Laboratory
    • Aprieta monster truck / Restaurant
    • EG Tax / Tax Preparation

    Property Details for 5897 S Transit Rd

    Year built
    1986
    Lot size
    13.60 lot acres
    Property size
    140,048 SF
    Zone code
    B-2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    292600 138.00-1-3.21
    APU
    292600138001321

    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
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.6952
    Latitude
    43.1364
    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
    0
    $0.00
    $1,660,000
    $4,780,000
    $6,440,000
    -
    $1,660,000
    $4,780,000
    $6,440,000

    Comparable in this City

    • Value Estimation
      $870,000
      22,878 SF

      477 Transit St

      SHOPPING CENTER, STRIP CENTER • 22,878 SF
      477 Transit St, Lockport, NY 14094-5506
      View Details
    • Value Estimation by Request
      7,500 SF

      Lkpt Olcott Rd

      SHOPPING CENTER, STRIP CENTER • 7,500 SF
      Lkpt Olcott Rd, Lockport, NY 14094
      View Details
    • Value Estimation by Request
      9,200 SF

      Lkpt Olcott Rd

      SHOPPING CENTER, STRIP CENTER • 9,200 SF
      Lkpt Olcott Rd, Lockport, NY 14094
      View Details
    • Value Estimation by Request
      3,108 SF

      5889 Transit Rd, Unit B

      SHOPPING CENTER, STRIP CENTER • 3,108 SF
      5889 Transit Rd, Lockport, NY 14094-6319
      View Details
    • Value Estimation
      $760,000
      24,458 SF

      1195 Lincoln Ave

      SHOPPING CENTER, STRIP CENTER • 24,458 SF
      1195 Lincoln Ave, Lockport, NY 14094
      View Details
    • Value Estimation by Request
      15,501 SF

      30 Main St

      SHOPPING CENTER, STRIP CENTER • 15,501 SF
      30 Main St, Lockport, NY 14094-3607
      View Details

    Similar Nearby for Sale

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      Ulrick City Center Investment Opportunity

      Multi-use commercial/office complex in Lockport, NY for sale.
      80 Main St, Lockport, NY 14094
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    • $650,000

      Redevelopment Opportunity in Downtown Lockport

      Two properties totaling 55,000 SF on 1.5 acres.
      120 Main St, Lockport, NY 14094
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    • $5,100,000
      43,063 SF

      Lockport Retail Property For Sale

      Retail property available for purchase in Lockport, New York.
      6015-6041 S Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      21,978 SF

      Retail/Office Space For Sale

      Retail/office space built in 1970, near popular restaurants.
      64 Chestnut St, Lockport, NY 14094
      View Details
    • Contact for pricing

      Transit Road Commercial Acreage Available

      7.64 acres on Transit Road with existing structures.
      6856 Transit Rd, Pendleton, NY 14094
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lockport Retail Corridor Opportunity

      Retail and warehouse spaces available in Lockport shopping center.
      5897 S Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      32,740 SF

      Lockport Retail/Warehouse Space Available

      Retail and warehouse spaces for lease in busy Lockport plaza.
      5921-5987 S Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      2,196 SF

      Retail Space Near Walmart

      Retail space available in high-traffic shopping center.
      5774 S Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing

      Lockport Warehouse/Retail/Office Space Available

      Flexible commercial space suitable for warehouse, retail, or office use.
      3454 Ewings Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      7,000 SF

      Retail Space on Transit Street

      Retail space in Lockport's growing business corridor.
      282-312 S Transit St, Lockport, NY 14094
      View Details

    Property Visit Statistics

    • Visits by month
      10.1k
    • Visitors by month
      5.9k
    • Avg Time on site
      14 min
    View Listing
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    5897 S Transit Rd
    Lockport, NY 14094
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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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