Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Turnkey Retail or Restaurant Space Title is generated by Realmo AI

    555 Elmwood Ave, Buffalo, NY

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    2,225 SF retail or restaurant space in turnkey condition.

    Type:RETAIL
    Property size:
    2,225 SF
    Lot size:
    0.21 Acres
    Added:
    Apr 18, 2024
    Days on Market:
    780
    Last Refresh:
    May 19 at 10:31 pm

    Property Features for 555 Elmwood Ave

    General Information

    Standard status
    Active
    Size
    2,225 SF
    Lot size
    0.21 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 555 Elmwood Ave Contact us

    We can help!

    Listing Contact
    Brian P Donovan
    Brian P Donovan

    Listing agent Brian P Donovan License #10491202934

    Listing office Donovan Real Estate Services

    Listing date Apr 18, 2024

    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 Donovan Real Estate Services

    HighLights

    • Turnkey condition, ready for immediate occupancy.
    • Existing build‑out as a cafe and retail space with coolers, service/prep area, and table seating.
    • Versatile space suitable for various retail or restaurant concepts.
    • 2,225 SF space available.
    • Located in an excellent neighborhood.
    • Corner location.

    Overview

    This 2,225 square foot space is available for lease and is suitable for retail or restaurant use. Currently built out as a cafe and retail space, it features coolers, a service/prep area, and table seating. The space is in turnkey condition and the floor plan and neighborhood can accommodate a variety of retail and restaurant concepts. The building is located on a corner in an excellent neighborhood. NNN's are $864 per month.
    Property Profile Location Intelligence

    Current Use by Public Records

    Thirsty Buffalo Bar & Pub

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office 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
    -78.8767
    Latitude
    42.912

    Nearby Similar for Lease

    • $350,000 SF/Yr
      7,338 SF

      Restaurant Building at South Park

      Restaurant building in high-traffic area with outdoor patio.
      2711 S Park Avenue, Buffalo, NY 14218
      View Details
    • $2,400/Mo
      4,620 SF

      First-Floor Office and Medical Space

      First-floor commercial space with a client lobby and multiple private offices suited for medical, dental, or professional use.
      2290 Main Street, Buffalo, NY 14214
      View Details
    • $800/Mo
      1,200 SF

      Third-Floor Office Suite

      Third-floor suite with three private offices, reception, bathroom, and included utilities and maintenance.
      1109 Delaware Avenue, Buffalo, NY 14209
      View Details
    • $15 SF/Yr
      7,344 SF

      Elmwood Avenue Professional Office Space

      3,000 SF office space in high-traffic Kenmore/Elmwood corridor.
      2555 Elmwood Avenue, Buffalo, NY 14217
      View Details
    • $1,700/Mo
      2,000 SF

      Elmwood Village Private Office Space

      Private office in shared space, Elmwood Village. Utilities included.
      625 W Ferry, Buffalo, NY 14222
      View Details
    • $5,000/Mo
      10,908 SF

      Turn-Key Restaurant and Warehouse

      Fully equipped restaurant plus warehouse space with loading door for flexible operating or leasing.
      898 Genesee Street, Buffalo, NY 14211
      View Details
    • $1.00 SF/Yr
      11,760 SF

      Multi-Suite Office Building

      Leasing suites in a well-maintained office building with parking, multi-floor restrooms, and convenient access to major roadways.
      3435 Harlem Road, Buffalo, NY 14225
      View Details
    • $11 SF/Yr
      9,635 SF

      Renovated Commercial Space with Warehouse

      Adaptable retail, office, and warehouse space in high-visibility location.
      4336 Bailey Avenue, Buffalo, NY 14226
      View Details
    • $1,250/Mo
      1,665 SF

      Retail Space in Buffalo, NY

      Retail space available for lease in Buffalo, New York.
      1109 Harlem Rd Ste 2, Buffalo, NY 14227
      View Details
    • $2,500/Mo
      1,500 SF

      First-Floor Office Suite with Offices

      A turnkey first-floor suite with reception, conference room, and three private offices plus shared workspace.
      5900 Main Street, Buffalo, NY 14221
      View Details
    • $2,200/Mo
      1,220 SF

      Renovated Commercial Space in Buffalo

      Versatile 1,220 sq ft space suitable for various business uses.
      18 Abbott Road, Buffalo, NY 14220
      View Details
    • $800/Mo
      600 SF

      Commercial Space in Buffalo, NY

      Commercial space available for rent in Buffalo, New York.
      1109 Harlem Rd Ste 3, Buffalo, NY 14227
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,225 SF retail or restaurant space in turnkey condition.
    Where is this retail space located?
    The property is located at 555 Elmwood Ave Buffalo, NY.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Turnkey condition, ready for immediate occupancy.; Existing build‑out as a cafe and retail space with coolers, service/prep area, and table seating.; Versatile space suitable for various retail or restaurant concepts.
    (716) 998-2943 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian P Donovan
    Brian P Donovan
    Real Estate License ID: 10491202934
    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

    Thank You for Inquiry
    555 Elmwood Ave, Buffalo, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!