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

    6699 Transit Rd Lancaster, NY 14086

    • Auto shops
    • 17,461 SF
    • 4.70 lot acres
    OFF-MARKET
    Last Sale
    Jan 27, 2025
    $2,450,000
    Value Estimations
    $2,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3722311
    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

    • Auto shops

    Property Details for 6699 Transit Rd

    Year built
    2006
    Lot size
    4.70 lot acres
    Property size
    17,461 SF
    Property type
    Auto shops
    APN
    145289 82.03-1-54.4
    APU
    14528982031544

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,195,000
      ML approach
      $2,080,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,886,000
      Market price range: $886k - $2.89M
      AI Estimate
      $1,898,000
      Market price range: $784k - $1.90M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,755,000
      Current use
      RETAIL STORES
      $2,535,000
      Change: +44% Conversion: Difficult
      RESTAURANT
      $2,385,000
      Change: +36% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,365,000
      Change: +35% Conversion: Difficult
      OFFICE BUILDING
      $2,040,000
      Change: +16% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,765,000
      Change: +1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Erie
    State
    New York
    Longitude
    -78.6937
    Latitude
    42.9533
    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
    $1,130,000
    $1,330,000
    $2,460,000
    -
    $1,506,667
    $1,773,333
    $3,280,000

    Comparable in this City

    • Value Estimation by Request
      804 SF

      5444 Genesee St

      AUTO REPAIR, GARAGE • 804 SF
      5444 Genesee St, Lancaster, NY 14086
      View Details
    • Value Estimation
      $1,925,000
      16,000 SF

      4082 Walden Ave

      AUTO REPAIR, GARAGE • 16,000 SF
      4082 Walden Ave, Lancaster, NY 14086-1513
      View Details
    • Value Estimation by Request
      5,948 SF

      5767 Genesee St

      AUTO REPAIR, GARAGE • 5,948 SF
      5767 Genesee St, Lancaster, NY 14086-9764
      View Details
    • Value Estimation by Request
      7,850 SF

      4238 Walden Ave

      AUTO REPAIR, GARAGE • 7,850 SF
      4238 Walden Ave, Lancaster, NY 14086-9767
      View Details
    • Value Estimation by Request
      1,586 SF

      47 Aurora St

      AUTO REPAIR, GARAGE • 1,586 SF
      47 Aurora St, Lancaster, NY 14086
      View Details
    • Value Estimation by Request
      4,340 SF

      156 Central Ave

      AUTO REPAIR, GARAGE • 4,340 SF
      156 Central Ave, Lancaster, NY 14086-1831
      View Details

    Similar Nearby for Sale

    • $275,000

      Auto Repair Facility with Residence

      Operating auto repair shop with residence on 0.65 acres.
      6530 Broadway, Lancaster, NY 14086
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    • $299,999
      2,337 SF

      Broadway Street Auto Shop Opportunity

      Auto shop with detached home and high-visibility frontage.
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      View Details
    • Contact for pricing

      Prime Corner Redevelopment Opportunity

      High-visibility corner location suitable for redevelopment or continued use.
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    • $279,000
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      Mixed-Use Corner Property Available

      Mixed-use property featuring apartments, commercial space, and parking.
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    • $287,500

      Lancaster Office or Retail Opportunity

      1,600+/- SF office/retail space with high visibility and ample parking.
      5300 Broadway St, Lancaster, NY 14086
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    • $4,499,000
      56,158 SF

      Lancaster Industrial Building with Cranes

      56,158 SF industrial building with high-bay warehouse and cranes.
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    Similar Nearby for Lease

    • Contact for pricing
      12,334 SF

      Lancaster Retail Strip Center

      Prime Lancaster Retail Space Available
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      3,300 SF

      Restaurant/Bar Space For Lease

      Restaurant/bar space available in Lancaster, NY.
      4493 Walden Ave, Lancaster, NY 14086
      View Details
    • $15 SF/Yr
      1,200 SF

      Retail Space Near Airport

      Retail suites available for lease with high visibility.
      4911-4939 Genesee St, Cheektowaga, NY 14086
      View Details
    • $1,000 /Mo

      Retail Space for Rent

      Retail space available for rent at $11 per unit.
      5497 Broadway St, Lancaster, NY 14086
      View Details
    • Contact for pricing
      150,000 SF

      Proposed Industrial Building For Lease

      Proposed 150,000 SF industrial building for lease in Lancaster, NY.
      4100 Walden Ave, Lancaster, NY 14086
      View Details
    • Contact for pricing

      Land for Rent

      Land available for rent with convenient access to major routes.
      45-55 Rotech Dr, Lancaster, NY 14086
      View Details
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    6699 Transit Rd
    Lancaster, NY 14086
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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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