Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multifamily Property in Desirable Location Title is generated by Realmo AI

    478 Lisbon Avenue, Buffalo, NY 14215

    View on Map
    Claim this Listing
    Pending
    $219,900

    MULTI_FAMILY - Other - Buffalo, NY

    Property size:
    1,958 SF
    Lot size:
    0.08 Acres
    Added:
    Apr 18, 2026
    Days on Market:
    48
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 478 Lisbon Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Basement, Bathroom 2
    Parking features
    Garage
    Patio and Porch features
    Porch
    Interior features
    CeilingFans, NaturalWoodwork
    Exterior features
    Balcony, FullyFenced
    Fencing
    Fenced
    Appliances
    GasWaterHeater
    Standard status
    Pending
    APN
    140200-079-650-0004-033-000
    Size
    1,958 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1454

    Utilities

    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1902
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Varies, Carpet, Vinyl, Hardwood
    Building materials
    CompositeSiding, VinylSiding, CopperPlumbing
    Architectural style
    Other

    We can help!

    Listing Contact
    Susan L Mecca
    Susan L Mecca

    Listing agent Susan L Mecca License #10401232868

    Listing office WNY Metro Roberts Realty 2211 Sheridan Drive, cheektowaga, NY

    Listing date Apr 18, 2026

    MLS# B1674347 Listing URL

    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

    • Highly desirable location near UB, major thoroughfares, shopping, and restaurants.
    • Strong rental appeal with spacious 2‑bedroom units.
    • Separate utilities for easy management and maximized profitability.
    • Enjoy a 2‑car garage and private balcony.
    • Full, clean, dry basement for ample storage.
    • Well‑maintained property with copper plumbing.

    Overview

    This multifamily property is located in a desirable location and features two spacious bedrooms in each unit, offering strong rental appeal and excellent income potential. Amenities include a 2-car garage, a private balcony, and a covered front entrance. The full, clean, dry basement provides ample storage. The property is situated minutes from UB, major thoroughfares, shopping, and popular restaurants, offering convenience and consistent tenant demand. Separate utilities and a thoughtful layout facilitate easy management and maximize profitability. The property size is 1958 square feet and the lot size is 0.08 acres.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $29.4k $15.00
    − Vacancy −$1.6k −$0.83
    EGI $27.8k $14.17
    − OpEx −$8.3k −$4.25
    NOI $19.4k $9.92
    1,958 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $277.5K
    $242.9K – $323.8K (±1% cap)
    NOI $19,428 @ 7.0% cap · market cap 8.83%
    Second Best
    Apartment 5plus
    $255.6K
    $223.7K – $298.3K (±1% cap)
    NOI $17,895 @ 7.0% cap · market cap 8.14%
    Theoretical Best
    Office A
    $470.9K
    $412.0K – $549.3K (±1% cap)
    NOI $32,960 @ 7.0% cap · market cap 14.99%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.810679
    Latitude
    42.946883

    Nearby Similar for Sale

    • $1,000,000
      11,760 SF

      Prime Commercial Investment Opportunity

      High-visibility commercial building with diversified income and strong upside potential.
      3435 Harlem Road, Buffalo, NY 14225
      View Details
    • $199,000
      4,055 SF

      Turnkey Restaurant Near University Campus

      Established restaurant franchise in high-traffic location near University at Buffalo.
      3199 Main Street, Buffalo, NY 14214
      View Details
    • $699,900
      3,641 SF

      Main Street Mixed-Use Investment

      Renovated 5-unit commercial property on Main Street, Buffalo.
      4444 Main Street, Buffalo, NY 14226
      View Details
    • $875,000
      8,357 SF

      Auto Repair Shop For Sale

      Turnkey auto repair shop with national tenant and high visibility.
      874 Niagara Falls Boulevard, Buffalo, NY 14223
      View Details
    • $499,900
      5,012 SF

      Versatile Commercial Building in Buffalo

      Spacious, accessible commercial building suitable for various business models.
      1609 Genesee Street, Buffalo, NY 14211
      View Details
    • $549,900
      10,908 SF

      Turn-Key Restaurant with Warehouse Space

      Restaurant, office, and warehouse with income and growth potential.
      898 Genesee Street, Buffalo, NY 14211
      View Details
    • $519,999
      6,119 SF

      Harlem Road Commercial Opportunity

      6,119 Sqft building on 0.62-acre lot in high-traffic location.
      1113- 1125 Harlem Road, Buffalo, NY 14227
      View Details
    • $549,900
      5,196 SF

      Two Buffalo Office Buildings

      Two professional office buildings with long-term tenants and flexible suites.
      932 French Road, Buffalo, NY 14227
      View Details
    • $519,999
      6,119 SF

      Harlem Road Commercial Opportunity

      High-traffic location suitable for office, retail, or mixed-use redevelopment.
      1113- 1125 Harlem Road, Buffalo, NY 14227
      View Details
    • $685,000
      5,186 SF

      Four-Unit Property in Elmwood Village

      Fully rented, cash-flowing four-unit property in Buffalo's Elmwood Village.
      180 Richmond Avenue, Buffalo, NY 14222
      View Details
    • $685,000
      4,549 SF

      Elmwood Village Four-Unit Multifamily Property

      Four units near Elmwood Avenue's shops, cafes, and restaurants.
      182 Lancaster Avenue, Buffalo, NY 14222
      View Details
    • $1,100,000
      10,467 SF

      Turnkey West Side Investment Opportunity

      Eight fully rented units with immediate income potential in Buffalo.
      227 14th Street, Buffalo, NY 14213
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained multifamily property with strong rental appeal and excellent income potential.
    Where is this duplex located?
    The property is located at 478 Lisbon Avenue Buffalo, NY.
    What is the asking price?
    The asking price for this property is $219,900.
    What are key features of this property?
    This property features: Highly desirable location near UB, major thoroughfares, shopping, and restaurants.; Strong rental appeal with spacious 2‑bedroom units.; Separate utilities for easy management and maximized profitability.
    (716) 407-0373
    We can help!
    Listing Contact
    Susan L Mecca
    Susan L Mecca
    Real Estate License ID: 10401232868
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    478 Lisbon Avenue, Buffalo, NY 14215
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!