Mixed-Use Property with
1016 Cleveland Drive, Buffalo, NY 14225
For Sale
$449,900
The building combines a street-level commercial space with two residential units and a detached garage.
Property Size3,042 SF
Price / SF$147.90
Days on Market176
Property Features for 1016 Cleveland Drive
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Highway Access
Mixed-Use Components
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Gross Income
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
on-site parking
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
HUNT Real Estate ERA
(716) 883-2200
Listed By:
Amanda Pikul
(716) 472-8929
Source:
Cowanesquelakerealty
Added: May 23
Changed: Nov 13
Last Checked: Nov 13 at 3:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HUNT Real Estate ERA
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Investment Insights
Based on property information with market context.
This 3,042-square-foot mixed-use property, built in 1938, has a front commercial space, two residential rental units, and a detached garage. The commercial occupant is scheduled to leave July 1, while the residential units have long-term tenants who wish to remain. The garage has also produced rental income. On-site parking is available, and the property is being sold as-is, with no repairs to be made by the seller due to the estate sale.
The property is at 1016 Cleveland Drive in Buffalo, with access to I-90 nearby. Its zoning is listed as 05, Residential Multi Use.
The property is at 1016 Cleveland Drive in Buffalo, with access to I-90 nearby. Its zoning is listed as 05, Residential Multi Use.
Key Highlights
- 3,042‑square‑foot mixed‑use property built in 1938
- Street‑level commercial area plus two residential rental units
- Detached garage has generated rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,854
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,080
$657.1K
Cap Rate 7%
$469,343
$469.3K
Cap Rate 9%
$365,044
$365.0K
Market Conditions
NOI Build-Up for 3,042 SF
Gross rent
$58.4K $19.20/SF
− Vacancy
−$5.8K −$1.92/SF
EGI
$52.6K $17.28/SF
− OpEx
−$19.7K −$6.48/SF
NOI
$32.9K $10.80/SF
Area
Buffalo, NY
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,080
Cap Rate 7%
$469,343
Cap Rate 9%
$365,044
Alternative Uses
Best Use
Mixed Use
$469.3K
$410.7K – $547.6K
NOI $32,854 @ 7.0% cap · market cap 7.30%
Second Best
Retail
$423.3K
$370.4K – $493.9K
NOI $29,631 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$731.5K
$640.1K – $853.5K
NOI $51,208 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Buffalo, NY
Properties on Market for Mixed-use properties in Buffalo
Vacancy Rate% for Retail in Buffalo, NY
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines a street-level commercial space with two residential units and a detached garage.
Where is this mixed-use property located?
The property is located at 1016 Cleveland Drive Buffalo, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 3,042‑square‑foot mixed‑use property built in 1938; Street‑level commercial area plus two residential rental units; Detached garage has generated rental income
