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

    97 Lucid Dr Buffalo, NY 14225-2623

    • Specialty properties
    • 3,480 SF
    • 4.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2023
    $355,000
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2691734
    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

    • Christ Central Buffalo / Presbyterian Church

    Property Details for 97 Lucid Dr

    Year built
    1970
    Lot size
    4.10 lot acres
    Property size
    3,480 SF
    Zone code
    05C
    Property type
    Specialty properties
    APN
    143089 91.15-5-1
    APU
    143089911551

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $360,000
      ML approach
      $340,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $330,000
      AUTO REPAIR, GARAGE
      $280,000
      OFFICE BUILDING
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7681
    Latitude
    42.9297
    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
    $225,000
    $40,000
    $265,000
    -
    $247,253
    $43,956
    $291,209

    Comparable in this City

    • Value Estimation
      $775,000
      62,247 SF

      7 Community Dr

      CHARITABLE ORGANIZATION • 62,247 SF
      7 Community Dr, Cheektowaga, NY 14225-2523
      View Details
    • Value Estimation
      $250,000
      5,946 SF

      957 Dick Rd

      VETERINARY, ANIMAL HOSPITAL • 5,946 SF
      957 Dick Rd, Buffalo, NY 14225-3554
      View Details
    • Value Estimation
      $155,000
      8,404 SF

      3095 Genesee St

      VETERINARY, ANIMAL HOSPITAL • 8,404 SF
      3095 Genesee St, Cheektowaga, NY 14225-2604
      View Details
    • Value Estimation
      $2,450,000
      16,361 SF

      4821 Genesee St

      VETERINARY, ANIMAL HOSPITAL • 16,361 SF
      4821 Genesee St, Buffalo, NY 14225-2409
      View Details
    • Value Estimation
      $300,000
      8,845 SF

      569 Cleveland Dr

      FUNERAL HOME • 8,845 SF
      569 Cleveland Dr, Buffalo, NY 14225-1000
      View Details
    • Value Estimation
      $135,000
      3,083 SF

      810 Rein Rd

      CHARITABLE ORGANIZATION • 3,083 SF
      810 Rein Rd, Buffalo, NY 14225-2432
      View Details

    Similar Nearby for Sale

    • $2,195,000

      Wehrle Drive Specialty Property

      Specialty property available for sale on Wehrle Drive.
      495 485, Amherst, NY 14225
      View Details
    • $399,000
      6,726 SF

      Freestanding Building on George Urban

      Freestanding building with income potential and ample parking.
      85 George Urban Blvd, Buffalo, NY 14225
      View Details
    • $2,036,000
      3,500 SF

      Bank of America NNN Lease

      NNN leased Bank of America with established location and strong demographics.
      600 Duke Rd, Buffalo, NY 14225
      View Details
    • $2,607,021
      11,421 SF

      Rite Aid NNN Investment

      NNN leased Rite Aid in Cheektowaga, New York.
      2401 Genesee St, Buffalo, NY 14225
      View Details
    • $1,699,000
      8,368 SF

      Turn-Key Banquet Facility For Sale

      Well-established banquet facility with seating for 258 in Buffalo, NY.
      672 Wehrle Dr, Buffalo, NY 14225
      View Details
    • $3,799,000
      6.08 Acres

      McKesson Parkway Development Land

      6-Acre Multifamily Development Site in Buffalo, NY
      100 Mckesson Pkwy, Buffalo, NY 14225
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      6,895 SF

      Commercial Space in Buffalo, NY

      Commercial property available for lease in Buffalo, New York.
      505 Aero Dr, Buffalo, NY 14225
      View Details
    • Contact for pricing
      10,404 SF

      Cheektowaga Retail Space For Lease

      1,000+ SF former salon, prime location.
      3035 Genesee St, Cheektowaga, NY 14225
      View Details
    • $12 SF/Yr
      3,780 SF

      Free-Standing Building Near Airport

      One-story, 3,780 SF building with parking near Buffalo Airport.
      1505-1517 Cleveland Dr, Buffalo, NY 14225
      View Details
    • $6 SF/Yr
      7,000 SF

      Industrial Warehouse Space Available

      Industrial/warehouse space with loading docks and parking.
      3820 Union Rd, Buffalo, NY 14225
      View Details
    • Contact for pricing
      7,200 SF

      Industrial Warehouse Space Available

      7,200 SF light industrial warehouse space for rent.
      3180 Genesee St, Buffalo, NY 14225
      View Details
    • $5 SF/Yr
      29,610 SF

      Industrial Warehouse Space in Buffalo

      29,610 SF industrial warehouse space available for lease.
      101 Benbro Dr, Buffalo, NY 14225
      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.
    97 Lucid Dr
    Buffalo, NY 14225-2623
    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.