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

    6348 Transit Rd Depew, NY 14043

    • Investment properties
    • 21,312 SF
    • 0.89 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Jul 11, 2023
    $2,000,000
    Value Estimations
    $1,880,000
    Cap Rate Potential
    8.2%
    Investment properties
    Location Intelligence
    Property ID
    US63-3028859
    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

    • Gym Swap / Clothing Store / Gym
    • Aroma therapy Inc / Alternative Medicine Practice / Spa & Massage Center
    • United Capital Credit / Consultant

    Property Details for 6348 Transit Rd

    Year built
    1961
    Lot size
    0.89 lot acres
    Property size
    21,312 SF
    Zone code
    05C
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    143003 93.13-4-29
    APU
    1430039313429

    Description

    This exceptional 1,500-square-foot office/retail space is situated in a bustling Depew, NY plaza on heavily trafficked Transit Road (Route 78), a primary north-south artery connecting numerous Western New York suburbs. The single-story, 1955-built building sits on a 0.69-acre lot and offers a fantastic opportunity for businesses seeking high visibility and accessibility. The entire space is currently vacant, providing a blank canvas for customization. The property boasts a strong tenant mix within the plaza, including Transit Hill Pharmacy, Step Ahead Shoe Store, Gym Swap, Goldsmiths Jewelry Store of WNY, Ten Lives Club, and Sew What Quilt Shop. This prime location benefits from proximity to a major grocery store (Tops Super Market Plaza) serving approximately 20,000 households, as well as other popular businesses such as Subway, Dollar Tree, Super Cuts, Tim Horton's, WNY Immediate Care, McDonald's, Italian Village Restaurant, Salvatore's Prime Restaurant, and the Delavan Hotel. The property's location between Genesee Street and Rehm Road further enhances its strategic position within this thriving commercial area. This is a rare opportunity to establish a presence in a high-demand location with excellent visibility and strong surrounding businesses. The property is zoned for commercial and executive office use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,445,000
      ML approach
      $2,370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,182,000
      Market price range: $1.18M - $2.45M
      AI Estimate
      $1,290,000
      Market price range: $1.05M - $2.82M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,785,000
      Current use
      RETAIL STORES
      $3,095,000
      Change: +74% Conversion: Easy
      RESTAURANT
      $2,910,000
      Change: +63% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,885,000
      Change: +62% Conversion: Difficult
      OFFICE BUILDING
      $2,490,000
      Change: +40% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,145,000
      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
    -78.6975
    Latitude
    42.9282
    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
    $145,000
    $665,000
    $810,000
    -
    $159,341
    $730,769
    $890,110

    Comparable in this City

    • Value Estimation by Request
      1,504 SF

      2496 George Urban Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,504 SF
      2496 George Urban Blvd, Depew, NY 14043-2010
      View Details
    • Value Estimation by Request
      3,915 SF

      5790 Transit Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,915 SF
      5790 Transit Rd, Depew, NY 14043-2820
      View Details
    • Value Estimation by Request
      3,744 SF

      3009 Walden Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,744 SF
      3009 Walden Ave, Depew, NY 14043-2614
      View Details
    • Value Estimation
      $515,000
      8,136 SF

      5823 Transit Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 8,136 SF
      5823 Transit Rd, Depew, NY 14043-2800
      View Details
    • Value Estimation by Request
      1,288 SF

      5911 Transit Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,288 SF
      5911 Transit Rd, Depew, NY 14043-2249
      View Details
    • Value Estimation
      $1,090,000
      12,272 SF

      5230 Transit Rd, Unit 5246

      OFFICE/RESIDENTIAL (MIXED USE) • 12,272 SF
      5230 Transit Rd, Depew, NY 14043-4337
      View Details

    Similar Nearby for Sale

    • $749,900
      2,877 SF

      Corner Commercial Property with Showroom

      Corner property with showroom, office, apartment, and garage.
      4734 Transit Rd, Depew, NY 14043
      View Details
    • $750,000
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      Multi-Tenanted Building on Transit Road

      Multi-tenanted building with office, warehouse, and apartment spaces.
      5800 Transit Rd, Depew, NY 14043
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    • $349,900

      Mixed-Use Property with Retail Space

      Mixed-use property featuring retail space and a three-bedroom apartment.
      5026 Broadway, Depew, NY 14043
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    • $750,000
      13,724 SF

      Multi-Tenanted Building on Transit Road

      Multi-tenanted building with office, warehouse, and apartment units for sale.
      5800 Transit Rd, Depew, NY 14043
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    • $799,000
      13,724 SF

      Depew Flex Space Investment

      High-yield multi-use building, 13,724 SF
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    • $299,900
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      Depew, NY Storefront - $299,900

      Prime Depew Retail Space - Vacant & Renovated
      5011 Broadway, Depew, NY 14043
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      1,720 SF

      Retail Space on Broadway Available

      Retail space for rent with high traffic and ample parking.
      4990 Broadway, Depew, NY 14043
      View Details
    • Contact for pricing
      3,168 SF

      Transit Road Retail/Office Space

      Mixed-use center with high visibility and ample parking.
      4711 Transit Rd, Lancaster, NY 14043
      View Details
    • Contact for pricing
      2,160 SF

      Retail Space in Urbandale Plaza

      Retail space available in supermarket-anchored Urbandale Plaza.
      30-40 Patrick Ln, Depew, NY 14043
      View Details
    • Contact for pricing

      Transit-French Square Plaza Outparcels

      Two divisible outparcels available for ground lease or build-to-suit.
      1428 French Rd, Depew, NY 14043
      View Details
    • $1,700 /Mo

      Remodeled Duplex with Finished Basement

      Remodeled 3-bedroom duplex near Transit Road, immediate occupancy.
      3038 George Urban Blvd, Depew, NY 14043
      View Details
    • $14 SF/Yr
      1,500 SF

      Transit Road Depew Office Space

      1,500 SF Office/Retail, High Traffic Area
      6348 Transit Rd, Depew, NY 14043
      View Details
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    6348 Transit Rd
    Depew, NY 14043
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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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