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.
Property Details
Price:
$2,100,000
MLS #:
B1666927
Status:
ActiveUnderContract
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Industrial
Neighborhood:
lancaster145289
Listed Date:
Mar 15, 2026
Finished Sq Ft:
32,874
Total Sq Ft:
32,874
Lot Size:
134,600 sqft / 3.09 acres (approx)
Year Built:
2001
See this Listing
Schools
School District:
Lancaster
Interior
Cooling
One Unit
Flooring
Concrete
Heating
Gas, Individual
Levels
One
Exterior
Building Features
Loading Dock, Office, Private Restrooms
Construction Materials
Metal Siding, Other
Lot Features
Rectangular, Rectangular Lot
Parking Features
Common, On Site, Surfaced
Parking Spots
20
Parking Total
20
Roof
Metal
Stories
1
Financial
Taxes
$32,020
Map
Community
- Address491 Erie Street Lancaster NY
- CityLancaster
- CountyErie
- Zip Code14086
Subdivisions in Lancaster
Market Summary
Current real estate data for Commercial in Lancaster as of Jul 16, 2026
7
Commercial Listed
127
Avg DOM
94
Avg $ / SqFt
$1,195,414
Avg List Price
Property Summary
- 491 Erie Street Lancaster NY is a Commercial for sale in Lancaster, NY, 14086. It is listed for $2,100,000
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Courtesy of Nichol City Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the New York State Alliance of MLSs. Detailed information about real estate listings held by brokerage firms other than Michael Paduano include the name of the listing broker. Neither the listing company nor Michael Paduano shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. New York State Alliance of MLSs. All rights reserved. 491 Erie Street
Lancaster, NY