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

    6115 1St St Newfane, NY 14108

    • Investment properties
    • 2,592 SF
    • 0.92 lot acres
    For Sale
    View listing
    $389,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5323775
    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

    • Tiny Town Daycare / Day Care Center

    Property Details for 6115 1St St

    Year built
    1880
    Lot size
    0.92 lot acres
    Property size
    2,592 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    292800 38.16-2-76.12
    APU
    292800381627612

    Description

    This exceptional commercial property, located at 6115 1st St in Newfane, NY, presents a unique investment opportunity. Boasting a substantial 2,992 square feet of space, this versatile building sits on a generous 0.92-acre lot, offering ample room for expansion or outdoor activities. The property's "Other" classification allows for a wide range of potential uses, making it ideal for businesses seeking a flexible and adaptable space. The building's size and the expansive lot provide significant potential for growth and development. Its location in Newfane, NY offers access to a thriving community and convenient transportation links. The asking price of $389,900 represents a compelling value for a property of this size and potential. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed specifications and potential use cases can be provided upon request. This is a rare opportunity to acquire a substantial commercial property in a desirable location at an attractive price point. Don't miss out on the chance to secure this prime piece of Newfane real estate. The property is ready for immediate occupancy and awaits its next chapter. Contact us today to schedule a viewing and begin exploring the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $214,000
      Market price range: $78.6k - $215k
      AI Estimate
      $301,000
      Market price range: $121k - $302k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $180,000
      AUTO REPAIR, GARAGE
      $175,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newfane
    County
    Niagara
    State
    New York
    Longitude
    -78.7033
    Latitude
    43.279
    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
    $24,000
    $101,000
    $125,000
    -
    $46,157
    $194,243
    $240,400

    Comparable in this City

    • Value Estimation
      $280,000
      4,991 SF

      2914 Lockport Olcott Rd

      STORE/OFFICE (MIXED USE) • 4,991 SF
      2914 Lockport Olcott Rd, Newfane, NY 14108-9601
      View Details
    • Value Estimation
      $225,000
      1,326 SF

      2350 Lockport Olcott Rd

      STORE/OFFICE (MIXED USE) • 1,326 SF
      2350 Lockport Olcott Rd, Newfane, NY 14108-9510
      View Details
    • Value Estimation
      $80,000
      3,040 SF

      2567 Main St

      STORE/OFFICE (MIXED USE) • 3,040 SF
      2567 Main St, Newfane, NY 14108-1018
      View Details
    • Value Estimation by Request
      792 SF

      2898 Lockport Olcott Rd

      STORE/OFFICE (MIXED USE) • 792 SF
      2898 Lockport Olcott Rd, Newfane, NY 14108-9601
      View Details
    • Value Estimation
      $225,000
      3,692 SF

      6052 Ee Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,692 SF
      6052 Ee Ave, Newfane, NY 14108-1041
      View Details
    • Value Estimation
      $210,000
      2,832 SF

      2772 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,832 SF
      2772 Main St, Newfane, NY 14108-1206
      View Details

    Similar Nearby for Sale

    • $315,000
      5,248 SF

      Newfane Main Street Mixed-Use Property

      Historic Newfane restaurant & 2.8 acres. Turnkey operation.
      2598 Main St, Newfane, NY 14108
      View Details
    • $389,900
      2,992 SF

      Versatile Newfane Commercial Property

      Daycare, Office, Storage - Huge Potential!
      6115 1St St, Newfane, NY 14108
      View Details
    • $275,000

      Newfane Multifamily Property for Sale

      Multifamily property available in Newfane, NY.
      6000 Ide Rd, Newfane, NY 14108
      View Details
    • $599,000
      11,402 SF

      Established Restaurant and Retail Opportunity

      Profitable restaurant, retail units, and land for sale.
      3333 Lockport Olcott Rd, Newfane, NY 14108
      View Details
    • $50,000

      Newfane Land with Development Potential

      8.6 acre lot in Newfane, NY with development potential.
      L1 Charlotteville Rd, Newfane, NY 14108
      View Details
    • $699,000
      10.20 Acres

      Prime Restaurant & Land Opportunity

      Established Restaurant w/ 10 Acres
      3333 Lockport Olcott Rd, Newfane, NY 14108
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr

      Newfane Warehouse and Office Space

      Warehouse and office space available for lease in Newfane, NY.
      2712 West Ave, Newfane, NY 14108
      View Details
    • $12 SF/Yr
      11,402 SF

      Versatile Commercial Space Available

      Restaurant, retail, or event space opportunity.
      3333 Lockport-Olcott Rd, Newfane, NY 14108
      View Details
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    6115 1St St
    Newfane, NY 14108
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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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