491 Erie ST, Lancaster, NY 14086
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491 Erie ST, Lancaster, NY 14086
491 Erie ST, Lancaster, NY 14086
491 Erie ST, Lancaster, NY 14086
491 Erie ST, Lancaster, NY 14086
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Michelle Thompson

Michelle Thompson

+1(315) 794-3260
$ 2,100,000
Est. payment /mo
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Active Under Contract

491 Erie ST Lancaster, NY 14086

32,874 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 32,874 sqft

Price per Sqft $63

MLS Listing ID B1666927

Construction Status Existing

HOA Y/N No

Year Built 2001

Annual Tax Amount $32,020

Lot Size 3.090 Acres

Acres 3.09

Lot Dimensions 300X450

Property Sub-Type Industrial

Property Description

Hard to find flex space investment property on 3 acres in a highly desirable area! Built in 2001. 5 buildings totaling approximately 32,874sf. 22 total tenants... 20 individual suites, 1 tenant rents two storage containers, and 1 tenant rents outdoor space. Very long term and stable tenancies and 5 vacancies that are currently available for rent at $12/sf. The owner is installing 5 bathrooms in building 5. Currently being offered at a 10% CAP rate with monthly rents potential totaling $21,975. Rents and CAP rate could be much higher. All units have suspended ceiling mounted unit heaters. The blacktop parking area was partially redone in 2025. LA has a data room link available to share with detailed rent rolls and information on which suites have bathrooms and offices.

Location

State NY

County Erie

Area Lancaster-145289

Zoning Industrial

Rooms

Basement None

Interior

Heating Gas, Individual

Cooling 1 Unit

Flooring Concrete

Inclusions Building Only

Fireplace No

Exterior

Utilities Available Electricity Connected

Roof Type Metal

Total Parking Spaces 20

Building

Lot Description Rectangular, Rectangular Lot

Building Description Metal Siding,Other, Loading Dock,Office,Private Restrooms

Story 1

Sewer Septic Tank

Level or Stories One

Structure Type Metal Siding,Other

Construction Status Existing

Schools

School District Lancaster

Others

Tax ID 145289-105-000-0005-045-211

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Nichol City Realty 716-480-8117

NEARBY SCHOOLS & PROPERTIES

Michelle Thompson

Michelle Thompson

Lic. RE Salesperson | License ID: 40FA1156159

+1(315) 794-3260

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