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    661 Main St Niagara Falls, NY 14301
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    Property profile & analytics

    661 Main St Niagara Falls, NY 14301

    View on Map
    • Office buildings
    • 12,480 SF
    • 0.67 lot acres
    For Lease
    $10 SF/Yr
    View Listing →
    Historic Office Space For Rent For Lease
    $10 SF/Yr
    5,682 SF

    Historic Office Space For Rent

    Updated historic building with kitchen, conference room, and ample parking.

    661 Main Street, Niagara Falls, NY 14301
    View Listing
    Property ID
    US63-6243724
    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

    • Ensol Inc / Engineering Consultant / Civil Engineer
    • Olive Ridley (Solara, Inc. DBA) / Hardware & Home Improvement / Building Supply
    • Solara Environmental / Waste Management Facility / Hazardous Waste Disposal

    Property Details for 661 Main St

    Year built
    1928
    Lot size
    0.67 lot acres
    Property size
    12,480 SF
    Zone code
    C2-A
    Property type
    Office buildings
    APN
    291100 159.21-2-1
    APU
    2911001592121

    Description

    This stunning, fully renovated Class A office building at 661 Main Street in Niagara Falls, NY, offers 5,682 square feet of move-in ready space. Built in 1945 and situated in Niagara County, this single-tenant property boasts a wealth of modern amenities within its historic charm. The space features a full kitchen and a dedicated conference room, perfect for executive functions. Recent upgrades include new LED lighting, fresh paint, new carpeting, and a new HVAC system (boiler and A/C). High ceilings and beautiful red oak flooring add to the sophisticated ambiance. Most existing furniture is available. Ample parking and prominent signage are also provided. This exceptional location is conveniently situated off Pine Avenue, near the post office and a bus stop, and just blocks from the Canadian border. The owner is open to considering a sublease or dividing the space into two units. Detailed floor plans are available upon request. This is an unparalleled opportunity to secure a prestigious and highly functional office space in a vibrant location.

    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
    Niagara Falls
    County
    Niagara
    State
    New York
    Longitude
    -79.0562
    Latitude
    43.0942
    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
    $36,300
    $169,600
    $205,900
    -
    $67,223
    $314,077
    $381,300

    Comparable in this City

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    • Value Estimation by Request
      5,632 SF

      457 3rd St

      OFFICE BUILDING • 5,632 SF
      457 3rd St, Niagara Falls, NY 14301-1505
      View Details
    • Value Estimation
      $765,000
      18,684 SF

      620 10th St

      OFFICE BUILDING • 18,684 SF
      620 10th St, Niagara Falls, NY 14301-1841
      View Details
    • Value Estimation
      $9,965,000
      100,862 SF

      1001 11th St

      OFFICE BUILDING • 100,862 SF
      1001 11th St, Niagara Falls, NY 14301-1201
      View Details
    • Value Estimation by Request
      8,536 SF

      723 Main St

      OFFICE BUILDING • 8,536 SF
      723 Main St, Niagara Falls, NY 14301-1749
      View Details
    • Value Estimation by Request
      18,212 SF

      549 4th St

      PROFESSIONAL BUILDING • 18,212 SF
      549 4th St, Niagara Falls, NY 14301-1530
      View Details

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      Retail/Office Space on Pine Avenue

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      Historic Office Space For Rent

      Updated historic building with kitchen, conference room, and ample parking.
      661 Main St, Niagara Falls, NY 14301
      View Details
    View Listing
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    Niagara Falls, NY 14301
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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.

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