32 Professional PkwyLockport, NY 14094

Property Details for 32 Professional Pkwy

Year built

1992

Lot size

0.40 AC

Property size (Sq ft)

2,560 SF

Zone code

05 - COMMERCIAL

Property type

Office buildings

APN

290900 123.08-4-9

APU

2909001230849

Description

This single-tenant, 2,400 square foot Class B office building, constructed in 2002, is situated in a 19-building medical and professional office park in Lockport, NY. The property features an open reception area, six oversized executive offices, an open workspace, kitchen, storage, and restrooms. Ample natural light and a convenient rear parking lot enhance its appeal. The building boasts a wood frame and brick exterior, a single story design, and either a crawl space or full basement. It sits on its own tax parcel and can be sold separately from the other buildings in the complex. The lot size is approximately 0.35 acres or more. The building is currently vacant and ideal for a variety of office or medical uses. The larger complex offers suites ranging from 600 to 12,200 square feet, with most buildings designed for multiple tenants. The location provides easy access to Route 78, Lockport Memorial Hospital, and the downtown Lockport area, which includes numerous retail stores, restaurants, and hotels. Niagara County's central location offers proximity to Niagara Falls (18 miles) and Buffalo (30 miles). The property is zoned commercial and benefits from multiple points of access and ample parking throughout the complex. This presents a unique opportunity to acquire a well-located, versatile office building in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $464,378

  6.5%

  $428,657

  7%

  $398,038

• Comparable approach

  Method

  Valuation

  Relative Method

  $244,913

  Geo Method

  $161,050

• Alternative Use

  Use

  Valuation

  Residential

  $531,534

  Hospitality

  $486,882

  Educational

  $405,080

  Medical

  $419,012

  Retail

  $630,125

Location Insight

City

Lockport

County

Niagara

State

New York

Latitude

43.1582

Longitude

-78.6643

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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