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3637 Walden Ave 3,436 SF 100% Leased Retail Building Lancaster, NY 14086 $530,000 ($154.25/SF) 7.53% Cap Rate
Investment Highlights
- Fully leased investment property
- One two-bedroom and one one-bedroom apartment
- Direct frontage on heavily trafficked Walden Avenue
- Two apartments, commercial retail storefront, three-car garage
- All tenants on leases
- Additional surface parking is shared by tenants and storefront
Executive Summary
Two-apartment upper and lower double with an attached retail storefront and three-car garage in the village of Lancaster. The apartments include kitchen appliances and laundry machines. The lower has updated kitchen cabinets and the storefront commercial space has been completely remodeled. Tenants pay gas, owner pays electric and water in the apartments. The tenant pays gas and electric in the commercial space. The property is fully occupied. An additional surface parking lot is shared by the apartment tenants and the storefront. The garage space is separately rented and includes electric.
Village of Lancaster, located on heavily trafficked Walden Avenue east of Central Avenue at the corner of Embry Place.
Village of Lancaster, located on heavily trafficked Walden Avenue east of Central Avenue at the corner of Embry Place.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$58,500
|
$17.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,925
|
$0.85
|
| Effective Gross Income |
$55,575
|
$16.17
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$15,657
|
$4.56
|
| Net Operating Income |
$39,918
|
$11.62
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $58,500 |
| Annual Per SF | $17.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,925 |
| Annual Per SF | $0.85 |
| Effective Gross Income | |
|---|---|
| Annual | $55,575 |
| Annual Per SF | $16.17 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $15,657 |
| Annual Per SF | $4.56 |
| Net Operating Income | |
|---|---|
| Annual | $39,918 |
| Annual Per SF | $11.62 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,436 SF
Building Class
C
Year Built
1935
Price
$530,000
Price Per SF
$154.25
Cap Rate
7.53%
NOI
$39,918
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.23
Lot Size
0.35 AC
Zoning
482
Frontage
114’ on Walden Ave
Amenities
- Signage
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 145203-104-110-0007-011-000 | Improvements Assessment | $145,500 (2024) |
| Land Assessment | $29,500 (2024) | Total Assessment | $175,000 (2024) |
Property Taxes
Parcel Number
145203-104-110-0007-011-000
Land Assessment
$29,500 (2024)
Improvements Assessment
$145,500 (2024)
Total Assessment
$175,000 (2024)
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Presented by
Brian Heine - Licensed Real Estate Broker
3637 Walden Ave
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