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491 Erie Street Lancaster, NY $ 2,100,000
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$ 2,100,000 Get more info
491 Erie Street
$ 2,100,000
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Share Save

491 Erie Street

Lancaster, NY, 14086
$ 2,100,000
Bedrooms-- Baths-- Sq 32,874

Monthly Estimate*

$ 13,260

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Commercial Property for sale in Lancaster, NY

for $2,100,000. This 32,874 square foot building was built in 2001 on a lot size of 3.09.

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.

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Commercial Contingent

Price

$ 2,100,000

Property Type

Commercial

Taxes

$ 32,020

Style

Industrial

Lot Size

3.09

Year Built

2001

Town/City

Lancaster

County/Region

Erie

MLS | Web ID

B1666927
Features
General
Sewer SepticTank
Heating Gas Individual
Cooling OneUnit
Utilities ElectricityConnected
Possession CloseOfEscrow
Roof Metal
Zoning Industrial
Construction Materials MetalSiding Other
School District Lancaster
Year Built 2001
Electric Other
Stories Count 1
Township Not Applicable
Levels One
Property Subtype Industrial
County Erie
Property Type CommercialSale
Possible Use Warehouse
Building Features LoadingDock Office PrivateRestrooms
Status ActiveUnderContract
City Lancaster
High School District Lancaster
Zoning Description Light Industrial
Number Of Units Total 0
MLS Area Lancaster-145289
Lot Size Units Acres
Lot Size Square Feet 134600.0
Year Built Details Existing
Tax Annual Amount 32020.0
Property Condition Resale
Lease Considered Y/N No
Standard Status ActiveUnderContract
Middle/Junior School District Lancaster
Elementary School District Lancaster
Tax Assessed Value 1875000
TaxOtherAnnualAssessmentAmount 0.0
Tax Lot 45
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Interior
Basement None
Flooring Concrete
Total Fireplaces 0
Total Stories 1
Basement (Y/N) No
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Main Level Bathrooms 0
Total Baths 0
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Exterior
Parking Features Common OnSite Surfaced
Lot Features Rectangular RectangularLot
Total Parking 20.0
Inclusions Building Only
Lot Size Area 3.09
Number of Buildings 5
Building Area Total 32874.0
Lot Dimensions 300X450
Lot Size Acres 3.09
Waterfront Y/N No
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Internal Only
Street Number 1 491
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* Excluded Features
List By
Nichol City Realty

Broker

(716) 480-8117

Phone

Affordability Calculator

$15,928
Per Month
83%
17%
0%
Monthly Principal & Interest
$13,260
Monthly Property Taxes
$2,668
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
246444 Elementary School
246634 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/16/2026$2,100,000 Listed Price

Map

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491 Erie Street, Lancaster, NY, 14086 is a Commercial Property for sale at $2,100,000 with 32,874 sqft and a lot size of 3.09. 491 Erie Street was built in 2001. The property's zip code is 14086 which is in Lancaster, NY

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