550 Center RdWest Seneca, NY 14224

Property Details for 550 Center Rd

Year built

1975

Lot size

0.64 AC

Property size (Sq ft)

4,620 SF

Zone code

05 - COMMERCIAL

Property type

Office buildings

APN

146800 134.15-2-1

APU

1468001341521

Description

This exceptional 6,930 square foot commercial office building, situated on a 0.64-acre lot in West Seneca, NY, presents a compelling investment opportunity. Built in 1968, this Class B property boasts a desirable location near Union Road and Route 400, offering convenient access to major transportation arteries. The building features a low-maintenance brick exterior and is comprised of two full floors, each equipped with multiple offices, restrooms, and separate utility rooms. A chair lift ensures accessibility between floors, and a spacious walk-up attic provides additional storage. Ample parking is available with a lot accommodating over 30 vehicles. The property is zoned for commercial business use, though potential buyers should verify intended use with the Town of West Seneca. The asking price is $374,900, translating to $54.10 per square foot. This versatile property is suitable for a variety of uses, making it an attractive option for both established businesses and investors seeking a strong return. The property includes 40 parking spaces and is identified by APN 146800-134-150-0002-001-000.

• CAP approach

  CAP return

  Valuation

  6%

  $838,080

  6.5%

  $773,612

  7%

  $718,354

• Comparable approach

  Method

  Valuation

  Relative Method

  $441,996

  Geo Method

  $290,644

• Alternative Use

  Use

  Valuation

  Residential

  $959,280

  Hospitality

  $878,695

  Educational

  $731,064

  Medical

  $756,206

  Retail

  $1,137,210

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.8399

Longitude

-78.7627

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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