Freestanding Storefront
For Sale
Contact for pricing
1055 Genesee Street, Buffalo, NY 14211
The property offers an open interior layout, on-site parking, and placement at a signalized corner.
Property Size10,684 SF
Price / SF$116
Days on Market18
Property Features for 1055 Genesee Street
General Information
Standard status
Active
Size
10,684 SF
Total Parking Spaces
45
Property subtype
Retail, Mixed Use
Zoning
N-3C Mixed-use Center
Additional Details
Corner Location
Yes
Building Details
Year Built
2011
Units
1
Listing Agency:
Innovative Property Services, LLC
(716) 684-9000
Listed By:
Penny Cipolla · License #NY 10491206067
Source:
Crexi
Added: Aug 4
Changed: Aug 21
Last Checked: Aug 20 at 12:01PM
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 Innovative Property Services, LLC
Investment Insights
Based on property information with market context.
Built in 2011, this freestanding retail building provides an open interior arrangement suited to a range of commercial configurations. The property previously operated as a Dollar General and includes on-site parking for 45 vehicles. It is positioned at a signalized corner and is served by a bus route.
The property is zoned N-3C Mixed-use Center and sits within dense surrounding residential neighborhoods. Downtown Buffalo and Route 33 are both minutes away, providing convenient access to established city destinations and regional road connections. Its corner placement, transit access, and surrounding residential context define the property’s primary physical and locational characteristics.
The property is zoned N-3C Mixed-use Center and sits within dense surrounding residential neighborhoods. Downtown Buffalo and Route 33 are both minutes away, providing convenient access to established city destinations and regional road connections. Its corner placement, transit access, and surrounding residential context define the property’s primary physical and locational characteristics.
Key Highlights
- Freestanding retail building constructed in 2011
- Open interior layout with 45 on‑site parking spaces
- N‑3C Mixed‑use Center zoning
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
$104,069
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
8.33%
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%
$2,081,380
$2.1M
Cap Rate 7%
$1,486,700
$1.5M
Cap Rate 9%
$1,156,322
$1.2M
Market Conditions
NOI Build-Up for 10,684 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
$166.7K $15.60/SF
− Vacancy
−$18.0K −$1.68/SF
EGI
$148.7K $13.92/SF
− OpEx
−$44.6K −$4.17/SF
NOI
$104.1K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,081,380
Cap Rate 7%
$1,486,700
Cap Rate 9%
$1,156,322
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.73M
NOI $104,069 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,850 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - The property offers an open interior layout, on-site parking, and placement at a signalized corner.
Where is this storefront property located?
The property is located at 1055 Genesee Street Buffalo, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Freestanding retail building constructed in 2011; Open interior layout with 45 on‑site parking spaces; N‑3C Mixed‑use Center zoning
