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    Tenant-Occupied Mixed-Use Building Title is generated by Realmo AI

    2322 Seneca Street, Buffalo, NY 14210

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    Pending
    $249,900

    SINGLE_FAMILY - Buffalo, NY

    Type:Office
    Property size:
    4,824 SF
    Lot size:
    0.10 Acres
    Added:
    Jan 7, 2026
    Days on Market:
    152
    Last Refresh:
    Jun 8 at 8:06 am

    Property Features for 2322 Seneca Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    N-3C
    Rooms
    Basement
    Parking
    2
    Standard status
    Pending
    APN
    140200-133-340-0003-029-000
    Size
    4,824 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2956

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1856
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Vinyl, Linoleum, Varies, Hardwood
    Building materials
    Block
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Jennifer R Goetz
    Jennifer R Goetz

    Listing agent Jennifer R Goetz License #10301223110

    Listing office Keller Williams Realty WNY 5500 Main St. Ste. 108, Williamsville, NY

    Listing date Jan 7, 2026

    MLS# B1656519

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use building with tenant‑occupied apartments and retail space generating over $34,000 in gross revenue
    • Projected gross revenue of $43,200 with cap rates of 8.63% (projected) and 6.40% (current)
    • Within the past 5 years: new roof, restored bathrooms, updated plumbing, two new furnaces, 1 a/c unit, and 1 hot water tank
    • Upper unit includes restored kitchen, newer windows, and solid surface countertops
    • Construction uses block with vinyl/linoleum/varied/hardwood flooring; heating is natural gas forced air and cooling is central air
    • Asphalt roof and public water/sewer; vacant lot next door included with the sale

    Overview

    This mixed-use building includes both apartments and retail space, with both areas currently tenant occupied. The property has seen significant recent improvements, including a new roof within the past five years, restored bathrooms, updated plumbing, two new furnaces, one A/C unit, and a new hot water tank. Unit updates include a restored upper kitchen with newer windows and solid surface countertops. Exterior work includes a new facade, updated commercial windows, and new exterior paint.

    The building is located on Seneca Street in South Buffalo’s Cazenovia Park area. The sale also includes the vacant lot next door, which may be used to support expansion, development, or additional parking.

    For buyers seeking an income-producing mixed-use setup with both residential and retail components, this property provides the advantage of having tenants in place. The recent capital updates and refreshed building exterior may help reduce near-term maintenance items, while the included next-door lot adds flexibility for future site improvements aligned with the property’s use.
    Property Profile Location Intelligence

    Current Use by Public Records

    St. John's Buffalo ... Credit Union Gallery At Seneca Art Gallery

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.803641
    Latitude
    42.850528

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with tenant-occupied retail and apartments, plus a vacant lot next door for expansion or parking.
    Where is this mixed-use property located?
    The property is located at 2322 Seneca Street Buffalo, NY.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Mixed‑use building with tenant‑occupied apartments and retail space generating over $34,000 in gross revenue; Projected gross revenue of $43,200 with cap rates of 8.63% (projected) and 6.40% (current); Within the past 5 years: new roof, restored bathrooms, updated plumbing, two new furnaces, 1 a/c unit, and 1 hot water tank
    (716) 316-6664
    We can help!
    Listing Contact
    Jennifer R Goetz
    Jennifer R Goetz
    Real Estate License ID: 10301223110
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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