792 Davison RdLockport, NY 14094

Property Details for 792 Davison Rd

Year built

1991

Lot size

0.62 AC

Property size (Sq ft)

2,998 SF

Zone code

05 - COMMERCIAL

Property type

Office buildings

APN

290900 123.12-2-5

APU

2909001231225

Description

This exceptional Lockport, NY office park offers 19 single-story buildings totaling 81,492 square feet. The property features flexible suite sizes ranging from 600 to 10,000 contiguous square feet, ideal for a variety of tenants. Each building, constructed in 2002, boasts a wood frame and brick exterior, with either a crawl space or full basement, and asphalt shingle roofing. Lot sizes vary from 0.35 to 1.19 acres, with each building situated on its own tax parcel, allowing for individual leasing or sale. Currently, the park enjoys approximately 50% occupancy, housing a mix of medical and professional office tenants. The buildings are well-suited for medical practices, legal firms, accounting offices, and other professional businesses. Ample parking is available around each building, ensuring convenient access for employees and clients. The park's convenient location, just north of Lincoln Avenue on Davison Road, offers easy access to major roadways, including Transit Road, and is within close proximity to Lockport Memorial Hospital and a wide array of retail amenities, restaurants, and hotels. Its strategic location in Niagara County, approximately 18 miles east of the Niagara Falls border and 30 miles from downtown Buffalo, provides excellent accessibility and visibility. The property is zoned B-4 and features a 9-foot ceiling height. This presents a unique opportunity for investors seeking a diverse portfolio of office spaces in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $543,830

  6.5%

  $501,997

  7%

  $466,140

• Comparable approach

  Method

  Valuation

  Relative Method

  $286,816

  Geo Method

  $188,604

• Alternative Use

  Use

  Valuation

  Residential

  $622,476

  Hospitality

  $570,185

  Educational

  $474,387

  Medical

  $490,702

  Retail

  $737,936

Location Insight

City

Lockport

County

Niagara

State

New York

Latitude

43.1558

Longitude

-78.665

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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