6850 Prescott DrDerby, NY 14047

Property Details for 6850 Prescott Dr

Year built

1940

Lot size

0.27 AC

Property size (Sq ft)

400 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

144489 192.20-1-31.11

APU

1444891922013111

Description

This 1,632 square foot office building, located at 6850 Prescott Drive in Derby, New York, presents a unique investment opportunity. Built in 1940, this two-story Class B building sits on a 0.27-acre lot and is zoned GB, offering considerable flexibility for a variety of uses. Previously utilized as a veterinary clinic, the property features multiple rooms on the first floor and additional office/storage space on the second floor. Its excellent visibility and convenient location just off Route 5, near the lakeshore, make it ideal for a range of businesses, including insurance, accounting, law, or medical practices. The building's adaptable layout also lends itself well to retail uses. The property consists of one unit within a single building and offers a compelling combination of location, size, and zoning potential. The asking price is $119,900. This is a rare opportunity to acquire a well-situated commercial property in a desirable area of Erie County, New York, with significant upside potential. The property's history as a veterinary clinic provides a solid foundation for a variety of future uses.

• CAP approach

  CAP return

  Valuation

  6%

  $89,978

  6.5%

  $83,057

  7%

  $77,124

• Comparable approach

  Method

  Valuation

  Relative Method

  $59,316

  Geo Method

  $106,923

• Alternative Use

  Use

  Valuation

  Residential

  $83,057

  Hospitality

  $76,080

  Educational

  $63,298

  Medical

  $65,474

  Retail

  $98,463

Location Insight

City

Derby

County

Erie

State

New York

Latitude

42.7002

Longitude

-78.9834

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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