Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1582 Main St Buffalo, NY 14209

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $495,000

    Operating car wash suitable for restaurant, retail, or office conversion.

    We can help!

    Listing Contact
    Rick Recckio
    Source: Recckio

    Listing Agent: Rick Recckio

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

    Learn more

    Overview

    Operating Car Wash Conversion Opportunity

    This single-story operating car wash is situated on a 0.56-acre lot with dimensions of 117' x 217' with an irregular depth. The property is located at the intersection of Main Street and East Ferry Street, offering great visibility. It is in close proximity to the Kensington Expressway Rt. 33 and NYS Thruway I-190, centrally located to all of Western New York and Southern Ontario. The property is located between Ferry St. & Delavan Ave., minutes from Downtown Buffalo, Children's Hospital, Roswell Cancer Institute, and several new developments including Hotels, Office buildings, Restaurants & Retail. The commercial zoning allows for easy conversion to a restaurant with a drive-through, retail, or office building. It also presents a development site opportunity.
    Location Intelligence

    Current Use by Public Records

    Car washes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8638396
    Latitude
    42.9166535

    Nearby Similar for Sale

    • $395,000
      Pending

      Remodeled Multi-Family Investment Property

      Completely remodeled multi-family home near downtown Buffalo.
      9 West Ave, Buffalo, NY 14201
      View Details
    • $995,000
      19,445 SF

      Mixed-Use Property in Central Buffalo

      20,000 SF mixed-use property with warehouse and apartments.
      250 Grant St, Buffalo, NY 14213
      View Details
    • $169,900
      2,156 SF

      Two-Family Home in Buffalo, NY

      Completely overhauled two-family house with potential for added rental income.
      171 Landon St, Buffalo, NY 14208
      View Details
    • New
      $499,900
      Pending

      North Buffalo Double with Garage

      Spacious North Buffalo double featuring updated interiors and a two-car garage.
      407 Huntington Ave, Buffalo, NY 14214
      View Details
    • $250,000
      Pending

      Updated Multi-Family Property in Buffalo

      Well-maintained multi-family property in Buffalo's revitalizing First Ward.
      264 Miami St, Buffalo, NY 14204
      View Details
    • $1,850,000
      18,990 SF

      Elmwood Avenue Multifamily Investment Property

      14-unit apartment complex in Kenmore, updated with off-street parking.
      2473 Elmwood Ave, Buffalo, NY 14217
      View Details
    • $349,900
      Pending

      Renovated Two-Family Home in Buffalo

      Updated two-unit property near Hertel Avenue's amenities.
      301 Crestwood Ave, Buffalo, NY 14216
      View Details
    • $999,900
      16,438 SF

      Historic Church with Multifaceted Potential

      Versatile church property with medical suite and residential units.
      360 Genesee St, Buffalo, NY 14204
      View Details
    • $499,900
      7,748 SF

      Updated Mixed-Use Property Near Park

      Updated mixed-use property with storefronts and apartments near Cazenovia Park.
      2342 Seneca St, Buffalo, NY 14210
      View Details
    • New
      $224,900
      1,960 SF

      Renovated Duplex in Buffalo

      Turnkey duplex with modern updates, ideal for investors or owner-occupants.
      411 Cambridge Ave, Buffalo, NY 14215
      View Details
    • $209,900
      Pending

      Spacious Buffalo Two-Family Home

      Two-family home in Buffalo with recent updates and ample space.
      324 Crestwood Ave, Buffalo, NY 14216
      View Details
    • $495,000
      4,746 SF

      Elmwood Village Mixed-Use Investment

      Mixed-use property in Buffalo's desirable Elmwood Village. Strong rental demand.
      1094 Elmwood Ave, Buffalo, NY 14222
      View Details

    FAQs

    What type of property is this?
    Car wash - Operating car wash suitable for restaurant, retail, or office conversion.
    Where is this car wash located?
    The property is located at 1582 Main St Buffalo, NY.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - High-visibility location at the intersection of Main Street & East Ferry Street; - .56 Acre Lot suitable for development; - Easily converted to Restaurant with drive-through, Retail, or Office building
    (716) 834-7777
    Request Owner's contact information
    1582 Main St Buffalo, NY 14209
    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.
    1582 Main St
    Buffalo, NY 14209
    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
    1582 Main St Buffalo, NY 14209
    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
    Rick Recckio
    Real Estate License ID: #31RE0821429
    (716) 834-7777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.