Add Listing
    For Lease
    • 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

    535 Washington St Buffalo, NY

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Move-in ready office space with abundant natural light and scenic views.

    Type:OFFICE
    Property size:
    3,116 SF
    Lot size:
    1.72 Acres
    Added:
    Jun 9, 2023
    Days on Market:
    1029
    Last Refresh:
    Mar 29 at 10:17 pm

    Property Features for 535 Washington St

    General Information

    Standard status
    Active
    Size
    3,116 SF
    Lot size
    1.72 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 535 Washington St Contact us

    We can help!

    Listing Contact
    Margaret Tuerk

    Listing agent Margaret Tuerk License #NY 10301219526

    Listing office Iskalo Development Corp.

    Listing date Jun 9, 2023

    Source Moodyscre

    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 Iskalo Development Corp.

    Overview

    Historic Office Space in Buffalo

    This office space, ranging from 2,700 to 26,584 square feet, features an adaptive floor plan suitable for both open and traditional office concepts. The space is in move-in ready condition and benefits from abundant natural daylight and scenic views, complemented by quality finishes throughout. Located in the central business district, the Electric Tower has undergone a comprehensive restoration of its lobby and common areas, along with a full building mechanical system replacement featuring green upgrades. The building combines modern office amenities with the charm of a landmark setting. The property features upgraded mechanical, electrical, and telecommunications systems. Gated, adjacent parking is available, with additional covered parking nearby. The location provides easy access to and from downtown.
    Location Intelligence

    Current Use by Public Records

    Brand Alignment (Bike/Boat/Book/etc) Store Housing Finance Agency Housing Authority Law Offices of Destin ... Law Firm BankOnBuffalo, a Division of CNB ... Bank Cleve Solar Solutions Production Facility

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop 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
    -78.8725
    Latitude
    42.8885

    Nearby Similar for Lease

    • Contact for pricing

      Office Space with Creek View

      Office space in the heart of Williamsville, NY.
      5629 Main Street, Buffalo, NY 14221
      View Details
    • Contact for pricing

      Main Street Commercial Space Available

      First floor commercial space on Main Street, Buffalo, NY.
      2290 Main Street, Buffalo, NY 14214
      View Details
    • $15/mo

      Elmwood Avenue Professional Office Space

      3,000 SF office space in high-traffic Kenmore/Elmwood corridor.
      2555 Elmwood Avenue, Buffalo, NY 14217
      View Details
    • Contact for pricing

      Seneca Street Retail/Office Space

      679 SF retail/office space in vibrant shopping district.
      2096 Seneca Street, Buffalo, NY 14210
      View Details
    • Contact for pricing

      Historic Office Suite For Rent

      Affordable office space in historic Boyd Mansion, Buffalo, NY.
      1109 Delaware Avenue, Buffalo, NY 14209
      View Details
    • Contact for pricing

      Turn-Key Restaurant and Warehouse

      Restaurant, renovated apartment, and warehouse for rent in Buffalo.
      898 Genesee Street, Buffalo, NY 14211
      View Details
    • $1.00/mo

      Harlem Road Commercial Leasing Opportunity

      High-visibility office spaces available for lease on Harlem Road.
      3435 Harlem Road, Buffalo, NY 14225
      View Details
    • Contact for pricing

      West Seneca Commercial Office Space

      1,842.50 sq ft office space in prime West Seneca location.
      4085 Seneca Street, Buffalo, NY 14224
      View Details
    • $11/mo

      Renovated Commercial Space with Warehouse

      Adaptable retail, office, and warehouse space in high-visibility location.
      4336 Bailey Avenue, Buffalo, NY 14226
      View Details
    • Contact for pricing

      Renovated Commercial Space in Buffalo

      Versatile 1,220 sq ft space suitable for various business uses.
      18 Abbott Road, Buffalo, NY 14220
      View Details
    • Contact for pricing

      Hertel Avenue Storefront Ready Now

      Updated 400 SF storefront with excellent natural light.
      662 Hertel Avenue, Buffalo, NY 14207
      View Details
    • $249,900/mo

      Two-Story Office Building in Buffalo

      Two-story office building for sale or lease in West Seneca.
      3686 Seneca Street, Buffalo, NY 14224
      View Details

    FAQs

    What type of property is this?
    Office units - Move-in ready office space with abundant natural light and scenic views.
    Where is this office units located?
    The property is located at 535 Washington St Buffalo, NY.
    What are key features of this property?
    This property features: Landmark building with historic charm and modern office amenities.; Move‑in ready condition with quality finishes throughout.; Abundant natural daylight and scenic views.
    (716) 633-2096 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Margaret Tuerk
    Real Estate License ID: NY 10301219526
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!