Office Building with
For Sale
$1,149,900
3101 Bailey Avenue, Buffalo, NY 14215
CommercialSale, Buffalo, NY
Property Size8,396 SF
Lot Size0.31 Acres
Price / SF$136.96
Days on Market23
Property Features for 3101 Bailey Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
N-3C
Zoning description
Commercial
Rooms
Basement
Parking
10
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-090-250-0007-003-000
Size
8,396 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
9837
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Amenities
400-amp electrical service
14-foot ceilings
eight glass-enclosed offices
walk-in vault
finished basement
pitched roof
newer HVAC system
gas boiler
Building Details
Year built
1939
Floors in Building
2
Building materials
Brick
Roof type
Tile, Slate
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
MD Zahid Al Mamun · License #10401401589
(347) 357-4253
Added: Jul 29
Changed: Aug 20
Last Checked: Aug 20 at 5:06AM
MLS# B1694315
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.
Investment Insights
Based on property information with market context.
Vacant office building offering 8,396 square feet on a 13,639-square-foot lot. The former banking area includes 14-foot ceilings, eight glass-enclosed offices, two drive-up teller or ATM lanes, and an 8' x 10' walk-in vault. A finished basement with 9-foot ceilings and multiple restrooms adds functional area for workspace or storage.
The property has 400-amp electrical service, a newer HVAC system, a gas boiler, and a pitched roof with tile and slate materials. Parking includes 10 off-street spaces, supplemented by on-street parking. Positioned on Bailey Avenue in Buffalo, the building carries N-3C zoning and is suited to office, retail, medical, financial, educational, professional, or service-related uses. The property is offered AS-IS.
The property has 400-amp electrical service, a newer HVAC system, a gas boiler, and a pitched roof with tile and slate materials. Parking includes 10 off-street spaces, supplemented by on-street parking. Positioned on Bailey Avenue in Buffalo, the building carries N-3C zoning and is suited to office, retail, medical, financial, educational, professional, or service-related uses. The property is offered AS-IS.
Key Highlights
- 8,396 square feet on a 13,639‑square‑foot lot
- N‑3C zoning with office, retail, medical, financial, educational, professional, and service‑use potential
- 14‑foot ceilings in the former banking and retail area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,694
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,093,880
$2.1M
Cap Rate 7%
$1,495,629
$1.5M
Cap Rate 9%
$1,163,267
$1.2M
Market Conditions
NOI Build-Up for 8,396 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$171.3K $20.40/SF
− Vacancy
−$31.7K −$3.77/SF
EGI
$139.6K $16.63/SF
− OpEx
−$34.9K −$4.16/SF
NOI
$104.7K $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,093,880
Cap Rate 7%
$1,495,629
Cap Rate 9%
$1,163,267
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.74M
NOI $104,694 @ 7.0% cap · market cap 9.10%
Second Best
Specialty Retail
$1.38M
$1.20M – $1.60M
NOI $96,269 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,335 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant commercial building with flexible office, retail, medical, financial, educational, and service-use potential.
Where is this office building located?
The property is located at 3101 Bailey Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: 8,396 square feet on a 13,639‑square‑foot lot; N‑3C zoning with office, retail, medical, financial, educational, professional, and service‑use potential; 14‑foot ceilings in the former banking and retail area
