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

    6935 Elaine Dr Niagara Falls, NY 14304-2875

    • Office buildings
    • 6,854 SF
    • 1.00 lot acres
    OFF-MARKET
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3714573
    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

    • Tuoti Raymond J MD / Physician
    • Craig Keller / Physician
    • Richard Kaplan / Physician
    • Gastroenterology Associates LLP / Physician
    • Maheshwari Yogesh MD / Physician

    Property Details for 6935 Elaine Dr

    Year built
    2008
    Lot size
    1.00 lot acres
    Property size
    6,854 SF
    Property type
    Office buildings
    APN
    294000 161.11-5-9
    APU
    2940001611159

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $704,000
      Market price range: $222k - $704k
      AI Estimate
      $595,000
      Market price range: $194k - $596k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $475,000
      Current use
      RESTAURANT
      $575,000
      Change: +21% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $520,000
      Change: +9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $455,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Niagara Falls
    County
    Niagara
    State
    New York
    Longitude
    -78.9444
    Latitude
    43.0872
    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
    $22,000
    $595,000
    $617,000
    -
    $55,000
    $1,487,500
    $1,542,500

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      2119 Sawyer Dr

      PROFESSIONAL BUILDING • 0.04 Acres
      2119 Sawyer Dr, Niagara Falls, NY 14304-2975
      View Details
    • Value Estimation
      $545,000
      16,160 SF

      7300 Porter Rd

      PROFESSIONAL BUILDING • 16,160 SF
      7300 Porter Rd, Niagara Falls, NY 14304-5716
      View Details
    • Value Estimation by Request
      6,176 SF

      7500 Porter Rd

      OFFICE BUILDING • 6,176 SF
      7500 Porter Rd, Niagara Falls, NY 14304-1604
      View Details
    • Value Estimation by Request
      4,140 SF

      6950 Williams Rd

      OFFICE BUILDING • 4,140 SF
      6950 Williams Rd, Niagara Falls, NY 14304-3025
      View Details
    • Value Estimation by Request
      3,840 SF

      3000 Military Rd, Unit 3008

      PROFESSIONAL BUILDING • 3,840 SF
      3000 Military Rd, Niagara Falls, NY 14304-1225
      View Details
    • Value Estimation
      $980,000
      25,080 SF

      10195 Niagara Fls Blvd

      PROFESSIONAL BUILDING • 25,080 SF
      10195 Niagara Fls Blvd, Niagara Falls, NY 14304-2941
      View Details

    Similar Nearby for Sale

    • $899,000
      11,176 SF

      Niagara Falls Warehouse and Office

      Warehouse and office space near Niagara Falls Airport.
      2070 Cayuga Rd Ext, Niagara Falls, NY 14304
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    • $289,900
      1,538 SF

      Niagara Falls Professional Office Space

      Highly visible corner office building with multiple offices and amenities.
      2121 Sawyer Dr, Niagara Falls, NY 14304
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    • $550,000
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      Medical Office Investment Opportunity

      Fully leased medical office building for sale in Niagara Falls.
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    • $259,900
      3,749 SF

      Niagara Falls Commercial Space

      Commercial space in Niagara Falls with many potential uses.
      520 Cayuga Drive Ext, Niagara Falls, NY 14304
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    • $299,000
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      Niagara Falls Church and Rectory

      Historic church and house with redevelopment potential across from Cayuga Creek.
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    • Contact for pricing
      10,322 SF

      Prime Niagara Falls Commercial Building

      10,322 SF Bank/Office, Vacant, 1.08 Acres
      2443 Military Rd, Niagara Falls, NY 14304
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    Similar Nearby for Lease

    • $11 SF/Yr
      3,200 SF

      Niagara County Office Space Available

      Premier office complex for lease in Niagara County.
      7711-7781 Porter Rd, Niagara Falls, NY 14304
      View Details
    • Contact for pricing
      1,500 SF

      Office Suites For Lease

      Office suites available with competitive lease rates and ample parking.
      6934 Williams Rd, Niagara Falls, NY 14304
      View Details
    • $1,500 /Mo

      LaSalle Business District Office Spaces

      Two office spaces in mint condition, excellent location.
      7316-7318 Buffalo Ave, Niagara Falls, NY 14304
      View Details
    • $6 SF/Yr
      8,052 SF

      Niagara Falls Office/Warehouse Space

      Office/warehouse space near I-190 and commercial corridors in Niagara Falls.
      6900 Mooradian Dr, Niagara Falls, NY 14304
      View Details
    • $15 SF/Yr
      850 SF

      Niagara Falls Office Space Available

      850+ SF Office/Retail Space, Newly Remodeled
      2463 Niagara Falls Blvd, Niagara Falls, NY 14304
      View Details
    • Contact for pricing
      11,875 SF

      Visible Retail Space Near Outlets

      Retail or office space in high-traffic area near shopping.
      2101 Military Rd, Niagara Falls, NY 14304
      View Details
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    6935 Elaine Dr
    Niagara Falls, NY 14304-2875
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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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