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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Office buildings
8 Martha St, Ellicottville, NY 14731-9714
Individually Owned
Absentee Owner
Free & Clear
Property ID
US63-2267199
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
8,868 SF
Lot
0.17 ac (7,562 SF)
Zoning code
05 - COMMERCIAL
APN
043601 55.036-2-52
UPID
US63-2267199
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nussbaumer & Clarke, Inc. Land Surveyor Civil Engineer
-
USDA Rural Development Urban Planning Department
-
Cattaraugus County Soil District County Government Office
-
Seneca Trail Resource Consrvtn Charitable Organization Social Service Agency
-
USDA Farm Services Agency Agricultural Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$749k
Blend (final)
Blend
$850k
Owner & transaction history
PETER L KROG
PETER L KROG
Zoning & alternative use
05 - COMMERCIAL · Ellicottville, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$865,000
+29.4%
Auto repair, garage
$775,000
+15.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ellicottville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ellicottville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$665,000
Current use
RESTAURANT
$865,000
Change: +29% · Conversion: Moderate
AUTO REPAIR, GARAGE
$775,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$610,000
Change: -9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$590,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$96 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$500,000
Assessed 2023
Previous assessed
$500,000
+0.0% YoY
Assessed land
$53,400
Assessed improvement
$446,600
Land market value
$82,154
Improvement market value
$687,077
Total market value
$769,231
Applied tax rate
43,601.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1950
Heating
NONE
Buildings
1
Stories
2
Total area
8,868 SF
Lot
0.17 ac (7,562 SF)
Zoning code
05 - COMMERCIAL
APN
043601 55.036-2-52
UPID
US63-2267199
Jurisdiction
CATTARAUGUS
Zoning & alternative use
05 - COMMERCIAL · Ellicottville, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Ellicottville, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ellicottville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$665,000
RESTAURANT
Est. value
$865,000
AUTO REPAIR, GARAGE
Est. value
$775,000
RETAIL STORES
Est. value
$610,000
COMMERCIAL (GENERAL)
Est. value
$590,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Heating
NONE
Stories
2
Buildings
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
PETER L KROG
Individual
Free & Clear · 0 yrs held
Mailing address
4 CTR DR, ORCHARD PARK, NY 14127-4117
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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