Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1030 Elmwood Ave Buffalo, NY 14222

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $995,000

    Renovated 6-unit apartment building near Bidwell Park and SUNY.

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Joseph M Farrauto
    Joseph M Farrauto
    Source: Huntcommercial

    Listing Agency: HUNT Commercial Real Estate Corp. of Buffalo New York Listing Agent: Joseph M Farrauto

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Apartment Building in Elmwood Village

    This is a renovated 6-unit apartment building featuring four three-bedroom units and two two-bedroom units with floor plans. The property is located in the Elmwood Village neighborhood of Buffalo, New York, near Bidwell Park, SUNY Buffalo State University, shopping, and expressways. Each apartment includes high-efficiency central air-conditioning and heating, energy-rated appliances, separate utilities, off-street parking, and a fire suppression system. The building has a new roof and balconies. The property size is 7164 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8774461
    Latitude
    42.925233

    Nearby Similar for Sale

    • $519,999
      6,119 SF

      Harlem Road Commercial Opportunity

      6,119 Sqft building on 0.62-acre lot in high-traffic location.
      1113- Harlem Rd, 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- Harlem Rd, Buffalo, NY 14227
      View Details
    • $1,000,000
      11,760 SF

      Prime Commercial Investment Opportunity

      High-visibility commercial building with diversified income and strong upside potential.
      3435 Harlem Rd, Buffalo, NY 14225
      View Details
    • $325,000
      Pending

      Updated Condominium on Maple Road

      Updated condominium suitable for medical, accounting, or attorney offices.
      37 Maple Rd, Buffalo, NY 14221
      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 Blvd, Buffalo, NY 14223
      View Details
    • $850,000
      17,254 SF

      Office Building in "AS IS" Condition

      Office property for sale in "AS IS" condition.
      200 Military Rd, Buffalo, NY 14207
      View Details
    • $629,900
      10,908 SF

      Turn-Key Restaurant with Warehouse

      Restaurant, renovated apartment, and warehouse for diverse income streams.
      898 Genesee St, Buffalo, NY 14211
      View Details
    • $259,888
      5,212 SF

      Updated Mixed-Use Building in Buffalo

      5212 sq ft mixed-use property with store and apartments.
      592 Genesee St, Buffalo, NY 14204
      View Details
    • $410,000
      1,232 SF

      Turnkey Auto Repair Business

      Established auto repair and sales business with licenses.
      2617 Elmwood Ave, Buffalo, NY 14217
      View Details
    • $599,000
      1,007 SF

      Turnkey Gas Station Opportunity

      Gas station with store and vacant lot in high-traffic area.
      473 E Delavan Ave, Buffalo, NY 14214
      View Details
    • $680,000
      Pending

      Investment Opportunity Near Hertel Avenue

      One-acre lot with rental income potential near Hertel Avenue.
      142 Botsford Pl, Buffalo, NY 14216
      View Details
    • $3,000,000
      Pending

      Modern Commercial Property in Orchard Park

      Two-story commercial property with drive-thru, built in 2017.
      3020 Orchard Park Rd, West Seneca, NY 14224
      View Details

    FAQs

    What type of property is this?
    Apartment building - Renovated 6-unit apartment building near Bidwell Park and SUNY.
    Where is this apartment building located?
    The property is located at 1030 Elmwood Ave Buffalo, NY.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Fully renovated 6-unit apartment building - like new!; - Prime Elmwood Village location near Bidwell Park, SUNY Buffalo State University, shopping, and expressways.; - Features four large three-bedroom units and two 2-bedroom units.
    (716) 465-2063
    Request Owner's contact information
    1030 Elmwood Ave Buffalo, NY 14222
    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.
    1030 Elmwood Ave
    Buffalo, NY 14222
    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
    1030 Elmwood Ave Buffalo, NY 14222
    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

    We can help!
    Listing Contact
    Joseph M Farrauto
    Joseph M Farrauto
    Real Estate License ID: 10301211758
    (716) 465-2063 (716) 832-4838 (716) 854-5943
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!