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3637 Walden Ave 3,436 SF 100% Leased Retail Building Lancaster, NY 14086 $725,607 CAD ($211.18 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$80,091
|
$23.31
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,005
|
$1.17
|
| Effective Gross Income |
$76,086
|
$22.14
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$21,436
|
$6.24
|
| Net Operating Income |
$54,651
|
$15.91
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $80,091 |
| Annual Per SF | $23.31 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,005 |
| Annual Per SF | $1.17 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $76,086 |
| Annual Per SF | $22.14 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $21,436 |
| Annual Per SF | $6.24 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $54,651 |
| Annual Per SF | $15.91 |
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
$725,607 CAD
Price Per SF
$211.18 CAD
Cap Rate
7.53%
NOI
$54,651 CAD
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
Property Taxes
| Parcel Number | 145203-104-110-0007-011-000 | Improvements Assessment | $200,892 CAD (2024) |
| Land Assessment | $40,731 CAD (2024) | Total Assessment | $241,622 CAD (2024) |
Property Taxes
Parcel Number
145203-104-110-0007-011-000
Land Assessment
$40,731 CAD (2024)
Improvements Assessment
$200,892 CAD (2024)
Total Assessment
$241,622 CAD (2024)
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Presented by
Brian Heine - Licensed Real Estate Broker
3637 Walden Ave
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