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

    6865 Erie Rd Derby, NY 14047

    • Investment properties
    • 4,072 SF
    • 1.26 lot acres
    For Sale
    View listing
    $469,000
    Last Sale
    Sep 29, 2022
    $420,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3676410
    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

    • Super Freeze Drive In / Restaurant
    • Super Freeze / Restaurant
    • Stoned Cold Smoke Shop / Tobacco Shop / Vaporizer Store

    Property Details for 6865 Erie Rd

    Year built
    1948
    Lot size
    1.26 lot acres
    Property size
    4,072 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    144489 206.08-1-14
    APU
    14448920608114

    Description

    This unique 625-square-foot creative office space, built in 2011, presents a rare opportunity in Derby, NY. Currently configured as a Texaco Station Diorama, this single-tenant property offers exceptional visibility and high foot traffic, boasting a location with over 14,000 vehicles passing daily. The building features two large garage doors, adaptable for various business needs – either maintaining access or converting to additional wall space. Natural light floods the interior through large windows, complemented by a covered patio area providing an inviting entrance. The monthly lease rate ranges from $500 to $700, contingent upon any necessary electrical modifications. This versatile space is ideal for businesses seeking high visibility, ample parking, and a strategic location within a bustling commercial zone. Whether used for storage, showcasing products, or establishing a prominent business presence, this property offers significant advantages for maximizing exposure and attracting customers. The property's adaptable design and prime location make it a compelling option for entrepreneurs and established businesses alike. Don't miss this chance to secure a space in Derby's thriving commercial heart.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    Erie
    State
    New York
    Longitude
    -78.9824
    Latitude
    42.6999
    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
    $98,200
    $156,800
    $255,000
    -
    $169,328
    $270,372
    $439,700

    Comparable in this City

    • Value Estimation by Request
      2,908 SF

      7909 Erie Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,908 SF
      7909 Erie Rd, Derby, NY 14047-9503
      View Details
    • Value Estimation by Request
      3,184 SF

      6971 Versailles Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,184 SF
      6971 Versailles Rd, Derby, NY 14047
      View Details
    • Value Estimation
      $805,000
      20,531 SF

      6853 Erie Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 20,531 SF
      6853 Erie Rd, Derby, NY 14047-9114
      View Details
    • Value Estimation by Request
      1,736 SF

      6763 Erie Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,736 SF
      6763 Erie Rd, Derby, NY 14047-9670
      View Details
    • Value Estimation by Request
      5,780 SF

      7455 Erie Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,780 SF
      7455 Erie Rd, Derby, NY 14047-9320
      View Details
    • Value Estimation by Request
      4,842 SF

      6798 Wellington Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 4,842 SF
      6798 Wellington Dr, Derby, NY 14047-9318
      View Details

    Similar Nearby for Sale

    • $329,900

      Versatile Commercial Property in Derby

      High-visibility commercial property with flexible zoning and income potential.
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    • $2,725,000
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      Commercial Building Lot For Sale

      Highly visible commercial lot with development potential in Derby, NY.
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      Graded Lot For Sale

      0.33 acre graded lot zoned for general business.
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    • $280,000
      Pending

      Evans NY Horse Property

      11.3 acres with barn, stalls, and training track.
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    • $250,000
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      Former Auto Shop Fronting Route 5

      Automotive properties • 1,733 SF
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    Similar Nearby for Lease

    • $1,000 /Mo
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      Retail Space in Derby, NY

      Retail space available for rent in Derby, New York.
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    • $20 SF/Yr

      Versatile Commercial Space For Lease

      Adaptable commercial space suitable for medical, recreational, or retail businesses.
      6840 Erie Rd, Derby, NY 14047
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      Commercial Building in Business District

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    • Contact for pricing
      83,593 SF

      Inline Space in Tops Plaza

      NNN sublease in grocer-anchored shopping center, available 6/19/21.
      6932 Erie Rd, Derby, NY 14047
      View Details
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    Derby, NY 14047
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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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