Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    614 Grover Cleveland Hwy Amherst, NY 14226-2900
    Back to Search
    Property profile & analytics

    614 Grover Cleveland Hwy, Amherst, NY 14226-2900

    View on Map
    • Investment properties
    • 2,107 SF
    • 0.92 lot acres
    Off-Market
    Last Sale Feb 22, 2024
    $780,000
    Property ID
    US63-2306568
    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
    $780,000
    Show details
    Cap Rate Potential
    2.9%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 614 Grover Cleveland Hwy

    Year built
    1952
    Lot size
    0.92 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    142289 67.66-1-5.1
    APU
    1422896766151

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 22, 2024 $780,000 Shengchen LLC Leonardi Real Estate Corp Warranty Deed —
    Sep 26, 2007 — Leonardi R & E Holding Corp Leonardi,luigi Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $780,000
      ML approach
      $780,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Amherst
    County
    Erie
    State
    New York
    Longitude
    -78.8069
    Latitude
    42.9714
    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
    $14,054
    $70,000
    $355,000
    $425,000
    -
    $112,903
    $572,581
    $685,484

    Comparable in this City

    • Value Estimation
      $570,000
      11,120 SF

      3937 Bailey Ave, Unit 3947

      STORE/OFFICE (MIXED USE)
      3937 Bailey Ave, Buffalo, NY 14226-3204
      View Details
    • Value Estimation by Request
      3,300 SF

      4400 Bailey Ave

      STORE/OFFICE (MIXED USE)
      4400 Bailey Ave, Amherst, NY 14226-2132
      View Details
    • Value Estimation by Request
      3,750 SF

      1940 Eggert Rd

      STORE/OFFICE (MIXED USE)
      1940 Eggert Rd, Buffalo, NY 14226-2100
      View Details
    • Value Estimation by Request
      3,219 SF

      2010 Eggert Rd

      STORE/OFFICE (MIXED USE)
      2010 Eggert Rd, Buffalo, NY 14226-2101
      View Details
    • Value Estimation by Request
      700 SF

      1909 Eggert Rd

      STORE/OFFICE (MIXED USE)
      1909 Eggert Rd, Amherst, NY 14226-2236
      View Details
    • Value Estimation
      $1,135,000
      12,330 SF

      3700 Sheridan Dr

      STORE/OFFICE (MIXED USE)
      3700 Sheridan Dr, Buffalo, NY 14226-1732
      View Details

    Similar Nearby for Sale

    • $185,000
      1,779 SF

      Buffalo Restaurant - Turnkey Opportunity

      Established Restaurant, High-Income Area
      0 Main St, Buffalo, NY 14226
      View Details
    • $699,900
      3,641 SF

      Main Street Mixed-Use Investment

      Renovated 5-unit commercial property on Main Street, Buffalo.
      4444 Main St, Buffalo, NY 14226
      View Details
    • Contact for pricing
      3,219 SF

      Mixed-Use Building on Corner Lot

      Versatile commercial building with retail, warehouse, and office space.
      2010 Eggert Rd, Eggertsville, NY 14226
      View Details
    • $324,900
      Pending

      Amherst Triplex with Income Potential

      Three-unit property in Amherst with versatile income potential.
      82 Argyle Ave, Amherst, NY 14226
      View Details
    • Contact for pricing
      3,650 SF

      Remodeled Office Building For Sale

      3,650 SF office building with remodeled interiors and parking.
      4444 Main St, Buffalo, NY 14226
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Sheridan Drive Mixed-Use Property

      Mixed-use property at Sheridan Drive and Bailey Ave available for rent.
      4568 Bailey Ave, Amherst, NY 14226
      View Details
    • Contact for pricing

      Prime Pad Site Opportunity

      1.26-acre site zoned for general business with utilities.
      155 Meyer Rd, Buffalo, NY 14226
      View Details
    • Contact for pricing
      1,180 SF

      Visible Corner Office Space Available

      First and second floor office suites available for lease.
      3140 Sheridan Dr, Buffalo, NY 14226
      View Details
    • Contact for pricing
      106,917 SF

      Amherst Retail Space Available

      High-visibility retail space, Amherst, NY
      4220 Maple Rd, Amherst, NY 14226
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    614 Grover Cleveland Hwy
    Amherst, NY 14226-2900
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    614 Grover Cleveland Hwy, Amherst, NY, 14226
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!