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    Property profile & analytics

    6231 Transit Rd Depew, NY 14043-1026

    • Investment properties
    • 11,868 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2288347
    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

    • Hector's Hardware / Building Supply / Hardware & Home Improvement

    Property Details for 6231 Transit Rd

    Year built
    1968
    Lot size
    0.85 lot acres
    Property size
    11,868 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    145201 93.17-1-4
    APU
    145201931714

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $904,000
      Market price range: $658k - $1.36M
      AI Estimate
      $988,000
      Market price range: $587k - $1.57M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $995,000
      Current use
      RESTAURANT
      $1,620,000
      Change: +63% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,605,000
      Change: +62% Conversion: Difficult
      OFFICE BUILDING
      $1,385,000
      Change: +40% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,195,000
      Change: +20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Depew
    County
    Erie
    State
    New York
    Longitude
    -78.6964
    Latitude
    42.9251
    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
    2023
    $0.00
    $180,000
    $440,000
    $620,000
    -
    $240,010
    $586,690
    $826,700

    Comparable in this City

    • Value Estimation
      $605,000
      7,200 SF

      3944 Broadway

      STORE/OFFICE (MIXED USE) • 7,200 SF
      3944 Broadway, Depew, NY 14043-2901
      View Details
    • Value Estimation
      $1,390,000
      10,664 SF

      5075-5079 Broadway St

      STORE/OFFICE (MIXED USE) • 10,664 SF
      5075-5079 Broadway St, Depew, NY 14043
      View Details
    • Value Estimation by Request
      4,424 SF

      1375 French Rd

      STORE/OFFICE (MIXED USE) • 4,424 SF
      1375 French Rd, Depew, NY 14043-4869
      View Details
    • Value Estimation
      $975,000
      11,500 SF

      1320 French Rd, Unit 1360

      STORE/OFFICE (MIXED USE) • 11,500 SF
      1320 French Rd, Depew, NY 14043-4870
      View Details
    • Value Estimation by Request
      3,600 SF

      4976 Broadway

      STORE/OFFICE (MIXED USE) • 3,600 SF
      4976 Broadway, Depew, NY 14043-3906
      View Details
    • Value Estimation by Request
      3,752 SF

      5422 Transit Rd

      STORE/OFFICE (MIXED USE) • 3,752 SF
      5422 Transit Rd, Depew, NY 14043-3238
      View Details

    Similar Nearby for Sale

    • $750,000

      Multi-Tenanted Building on Transit Road

      Multi-tenanted building with office, warehouse, and apartment units for sale.
      5800 Transit Rd, Depew, NY 14043
      View Details
    • $349,900

      Mixed-Use Property with Retail Space

      Mixed-use property featuring retail space and a three-bedroom apartment.
      5026 Broadway, Depew, NY 14043
      View Details
    • $3,200,000
      4,585 SF

      Depew Gas Station & Car Wash

      High-Traffic Location, Multiple Income Streams
      4535 Broadway, Depew, NY 14043
      View Details
    • Contact for pricing
      13,165 SF

      Retail Space with Ample Parking

      Retail space featuring high visibility and abundant parking.
      5460 Transit Rd, Depew, NY 14043
      View Details
    • $334,900

      Two-Story Office Building For Sale

      Two-story office building with income potential and on-site parking.
      5813 Transit Rd, Depew, NY 14043
      View Details
    • $1,599,000

      Versatile Multi-Use Office Building

      Well-maintained office building with expansion potential in a high-traffic location.
      6300 Transit Rd, Depew, NY 14043
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Transit Road Office and Retail

      Office and retail spaces available for rent.
      4721 Transit Rd, Depew, NY 14043
      View Details
    • Contact for pricing

      Retail Plaza in Suburban Buffalo

      230,000 SF plaza with diverse tenant mix.
      2082 George Urban Blvd, Depew, NY 14043
      View Details
    • $18 SF/Yr

      Prime Location Retail Spaces Available

      Retail spaces for lease with high visibility and traffic.
      5102 Genesee St, Depew, NY 14043
      View Details
    • Contact for pricing

      Lancaster Retail/Office Space Available

      3,400 SF space suitable for retail or office use.
      3297 Walden Ave, Lancaster, NY 14043
      View Details
    • Contact for pricing
      12,000 SF

      Depew Flex Space Available

      Flex space with warehouse, office, and retail showroom areas.
      3950 Broadway, Depew, NY 14043
      View Details
    • Contact for pricing

      Transit Road Retail Space Available

      Newly renovated 1,200+/- SF retail space on Transit Road.
      6354 Transit Rd, Depew, NY 14043
      View Details
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    6231 Transit Rd
    Depew, NY 14043-1026
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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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