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491 Erie St 32,874 SF 100% Leased Industrial Building Lancaster, NY 14086 $2,100,000 ($63.88/SF) 7% Cap Rate
Investment Highlights
- 18 Tenants, 5 Buildings, 3 Acres
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.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 145289-105-000-0005-045-211 | Improvements Assessment | $1,100,000 (2024) |
| Land Assessment | $100,000 (2024) | Total Assessment | $1,200,000 (2024) |
Property Taxes
Parcel Number
145289-105-000-0005-045-211
Land Assessment
$100,000 (2024)
Improvements Assessment
$1,100,000 (2024)
Total Assessment
$1,200,000 (2024)
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491 Erie St
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