Mixed-Use Two-Family with
615 Elmwood Avenue, Buffalo, NY 14222
- Added:
- Apr 13, 2026
- Days on Market:
- 53
- Last Refresh:
- Jun 4 at 5:06 am
Property Features for 615 Elmwood Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 2, Basement, Bathroom 1
- Parking features
- Garage, Open
- Patio and Porch features
- Porch
- Interior features
- CeilingFans, SlidingGlassDoors, NaturalWoodwork
- Exterior features
- FullyFenced
- Fencing
- Fenced
- Fireplace
- 1
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 140200-100-380-0002-037-000
- Size
- 4,662 SF
Taxes and HOA fees
- Tax Annual Amount
- 7451
Utilities
- Heating system
- Forced Air, Natural Gas, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1915
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Varies, Hardwood, Tile
- Building materials
- VinylSiding, CopperPlumbing
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Maria C Bufalino License #40BU0853538 (716) 308-6561
Listing office MJ Peterson Real Estate Inc. 431 Delaware Avenue, NY (716) 819-4200
Listing date Apr 13, 2026
MLS# B1670551
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
- 1915 two‑family home with commercial potential and residential unit in Buffalo’s Elmwood Village
- First floor currently used as an office, with ceiling fans and sliding glass doors
- Upper unit features 3 bedrooms, 2 baths, hardwood floors, and a gas fireplace in the living room
- Chef‑style kitchen with stainless steel appliances and granite counters
- 2‑car attached garage plus off‑street parking, porch, patio, and fully fenced/private yard
- Public water, asphalt roof, vinyl siding, copper plumbing, forced‑air natural gas and electric heating, and gas water heater
Overview
This exceptional mixed-use two-family property combines a commercial-ready first floor with a distinctive residential upper level. The first floor is currently set up as an office, providing an attractive option for a small business, studio, or office use, while the upper features a 2-story luxury apartment with three bedrooms and two baths. Interior highlights include beautiful cherry wood floors throughout, a kitchen with stainless-steel appliances, granite countertops, and abundant cabinetry, plus a large living room with a gas fireplace and a formal dining room. The main bedroom offers a walk-in closet and a spa-like bathroom. Additional outdoor space includes an open porch with views of the Elmwood Strip, complementing a patio and a private, fenced-in yard. Off-street parking is also provided with a two-car attached garage.
Located in the heart of Elmwood Village, the property benefits from business visibility along Elmwood Avenue. The surrounding area is described as vibrant and walkable, with nearby shops, cafes, restaurants, parks, and cultural attractions.
For buyers, this layout supports multiple strategies, whether you want to operate a business on the first floor while living upstairs, or you’re looking for an owner-occupied or income-focused mixed-use investment. The combination of street-facing office space and a well-appointed apartment above can appeal to tenants seeking convenience and a strong neighborhood setting.
Located in the heart of Elmwood Village, the property benefits from business visibility along Elmwood Avenue. The surrounding area is described as vibrant and walkable, with nearby shops, cafes, restaurants, parks, and cultural attractions.
For buyers, this layout supports multiple strategies, whether you want to operate a business on the first floor while living upstairs, or you’re looking for an owner-occupied or income-focused mixed-use investment. The combination of street-facing office space and a well-appointed apartment above can appeal to tenants seeking convenience and a strong neighborhood setting.
Local Financial Insights For Office B
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 | $95.1k | $20.40 |
| − Vacancy | −$17.6k | −$3.77 |
| EGI | $77.5k | $16.63 |
| − OpEx | −$19.4k | −$4.16 |
| NOI | $58.1k | $12.47 |
4,662 SF · lease $20.40/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$830.5K
$726.7K – $968.9K
NOI $58,133 @ 7.0% cap · market cap 7.32%
Second Best
Mixed Use
$719.3K
$629.4K – $839.2K
NOI $50,350 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.12M
$981.0K – $1.31M
NOI $78,478 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
State Farm: Dan ...
Insurance Agency
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.875064
- Latitude
- 42.914903
Nearby Similar for Sale
FAQs
What type of property is this?
Live-work space - Two-family with a first-floor office and a high-end 3-bedroom apartment above, offering business visibility and flexible income potential.
Where is this live-work space located?
The property is located at 615 Elmwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $794,000.
What are key features of this property?
This property features: 1915 two‑family home with commercial potential and residential unit in Buffalo’s Elmwood Village; First floor currently used as an office, with ceiling fans and sliding glass doors; Upper unit features 3 bedrooms, 2 baths, hardwood floors, and a gas fireplace in the living room
