Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    6655 Transit Rd Lockport, NY 14094-6342

    • Theaters & concert halls
    • 6,400 SF
    • 36.20 lot acres
    OFF-MARKET
    Last Sale
    Jun 01, 2022
    $1,075,000
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2352191
    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

    • Transit Drive-In Theatre / Drive-In Movie Theater
    • Starlite Snack Bar / Bar

    Property Details for 6655 Transit Rd

    Year built
    2012
    Lot size
    36.20 lot acres
    Property size
    6,400 SF
    Zone code
    B-2
    Property type
    Theaters & concert halls
    APN
    292600 152.03-1-4
    APU
    2926001520314

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $995,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lockport
    County
    Niagara
    State
    New York
    Longitude
    -78.694
    Latitude
    43.1049
    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
    $475,000
    $25,000
    $500,000
    -
    $475,000
    $25,000
    $500,000

    Comparable in this City

    • Value Estimation
      $325,000
      18,201 SF

      2 Ee Ave

      THEATER (MOVIE) • 18,201 SF
      2 Ee Ave, Lockport, NY 14094-3708
      View Details
    • Value Estimation
      $980,000
      8.80 Acres

      1130 Transit Rd

      DRIVE-IN THEATER • 8.80 Acres
      1130 Transit Rd, Lockport, NY 14094
      View Details
    • Value Estimation
      $500,000
      32,805 SF

      6510 Lincoln Ave

      BOWLING ALLEY • 32,805 SF
      6510 Lincoln Ave, Lockport, NY 14094-6108
      View Details
    • Value Estimation
      $225,000
      11.41 Acres

      4200 Lk Ave

      GOLF COURSE • 11.41 Acres
      4200 Lk Ave, Lockport, NY 14094-1041
      View Details
    • Value Estimation
      $325,000
      7,800 SF

      6771 Davison Rd

      GOLF COURSE • 7,800 SF
      6771 Davison Rd, Lockport, NY 14094
      View Details
    • Value Estimation
      $400,000
      2,538 SF

      4171 Lk Ave

      GOLF COURSE • 2,538 SF
      4171 Lk Ave, Lockport, NY 14094
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,600 SF

      Lockport Office Building, NY

      3600+ SF, 2 Suites Available
      16 Davison Ct, Lockport, NY 14094
      View Details
    • $205,000
      4,200 SF

      Lockport Office Building - Great Value

      Spacious Office Building, 1.45 Acres, $205,000
      7121 Rochester Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      1.40 Acres

      Lockport Commercial Land - 1.4 Acres

      High-traffic commercial lot, excellent visibility.
      6410 Robinson Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      6,172 SF

      115 Professional Pkwy

      Medical offices • 6,172 SF
      115 Professional Pkwy, Lockport, NY 14094
      View Details
    • Contact for pricing
      1.50 Acres

      Lockport Commercial Land Parcels

      Two 1.5-acre lots, prime location.
      6695 Transit Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      3,407 SF

      Lockport Office Building For Sale

      Vacant Executive/Medical Office, 3407 SF
      140 Professional Pkwy, Lockport, NY 14094
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,174 SF

      Lockport Office Park Investment

      Multiple suites, prime Lockport location.
      125 Professional Pkwy, Lockport, NY 14094
      View Details
    • Contact for pricing
      3,087 SF

      Lockport Office Building For Sale

      Prime Medical & Professional Office Space
      125 Professional Pkwy, Lockport, NY 14094
      View Details
    • Contact for pricing
      3,830 SF

      Lockport Warehouse: 3830 SF Available

      Spacious warehouse, ideal for various uses.
      6883 Lincoln Avenue Ext, Lockport, NY 14094
      View Details
    • $8 SF/Yr
      2,800 SF

      Ewings Road Commercial Space For Lease

      Versatile 2,800 sq ft warehouse/office space.
      3454 Ewings Rd, Lockport, NY 14094
      View Details
    • Contact for pricing
      32,740 SF

      Lockport Retail/Warehouse Space Available

      Retail and warehouse spaces for lease in busy Lockport plaza.
      5921-5987 S Transit Rd, Lockport, NY 14094
      View Details
    • $14 SF/Yr
      2,503 SF

      Lockport Office Space Available

      Office space available for lease in Lockport, New York.
      5858 Snyder Dr, Lockport, NY 14094
      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.
    6655 Transit Rd
    Lockport, NY 14094-6342
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.