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491 Erie St 34,600 SF 100% Leased Industrial Building Lancaster, NY 14086 $2,100,000 ($60.69/SF) 7% Cap Rate
Executive Summary
Hard to find flex space investment property on 3 acres in a highly desirable area! Built in 2001. 5 buildings totaling approximately 31,500 sq ft. 18 total tenants... 16 suites, 1 tenant rents two storage containers, and 1 tenant rents outdoor space. Very long term and stable tenancies and zero vacancies. Currently being offered at a 7% CAP rate with monthly rents totaling $16,662, rents could be much higher. Several units have offices and bathrooms. All units have suspended ceiling mounted unit heaters. The blacktop parking area was partially redone in 2025.
Property Facts
Property Taxes
| Parcel Number | 145289-105-000-0005-045-211 | Improvements Assessment | $1,100,000 |
| Land Assessment | $100,000 | Total Assessment | $1,200,000 |
Property Taxes
Parcel Number
145289-105-000-0005-045-211
Land Assessment
$100,000
Improvements Assessment
$1,100,000
Total Assessment
$1,200,000
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491 Erie St
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