Single-Tenant 1031 Exchange
For Sale
Contact for pricing
111 Maple St, Buffalo, NY 14204
A fully leased commercial asset carries a 10-year lease with defined rent escalations and one tenant in occupancy.
Property Size11,464 SF
Price / SF$152.56
Days on Market145
Property Features for 111 Maple St
General Information
Standard status
Active
Size
11,464 SF
Property subtype
Mixed Use, Office, Special Purpose
Zoning
x
Occupancy
100%
Net Operating Income
$126,000
Building Details
Stories
1
Units
1
Tenancy
Single
Listing Agency:
WindsorTurner, LLC
Listed By:
Rod Nagy · License #10491213219
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 1:21PM
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 WindsorTurner, LLC
Investment Insights
Based on property information with market context.
This commercial property contains approximately 11,464 square feet and is occupied by a single tenant. The building is fully leased under a 10-year agreement with defined rent escalations, providing a clearly established lease structure for ownership review. The tenant has been in place since 2021, and the property is located in Buffalo, New York.
The asset offers a straightforward single-tenant configuration rather than multiple suites or separate occupancies. Its lease profile and existing tenant placement may fit acquisition criteria centered on 1031 exchange properties, private ownership, or income-oriented portfolios. Zoning is identified as x.
The asset offers a straightforward single-tenant configuration rather than multiple suites or separate occupancies. Its lease profile and existing tenant placement may fit acquisition criteria centered on 1031 exchange properties, private ownership, or income-oriented portfolios. Zoning is identified as x.
Key Highlights
- Approximately 11,464 square feet
- Fully leased to a single tenant
- 10‑year lease in place
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
$142,950
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
8.17%
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%
$2,859,000
$2.9M
Cap Rate 7%
$2,042,143
$2.0M
Cap Rate 9%
$1,588,333
$1.6M
Market Conditions
NOI Build-Up for 11,464 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
$233.9K $20.40/SF
− Vacancy
−$43.3K −$3.77/SF
EGI
$190.6K $16.63/SF
− OpEx
−$47.7K −$4.16/SF
NOI
$143.0K $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%
$2,859,000
Cap Rate 7%
$2,042,143
Cap Rate 9%
$1,588,333
Alternative Uses
Best Use
Office B
$2.04M
$1.79M – $2.38M
NOI $142,950 @ 7.0% cap · market cap 8.17%
Second Best
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,811 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $192,980 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,630
Businesses Nearby
Explore this area
Business Placement
Demographics for 14204, NY
9,026
Population
5,514
Households
1.6
Avg Household Size
40
Median Age
16%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
5,014
Density / Sq Mi
$26,000
Median Household Income
$31,707
Median Earnings
$814
Median Rent
$151,700
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?
1031 exchange property - A fully leased commercial asset carries a 10-year lease with defined rent escalations and one tenant in occupancy.
Where is this 1031 exchange property located?
The property is located at 111 Maple St Buffalo, NY.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Approximately 11,464 square feet; Fully leased to a single tenant; 10‑year lease in place
