Rehabbed Retail and Restaurant
311-313 Grant St Buffalo, NY
For Sale
Contact for pricing
Two buildings, one rehabbed, one ready for remodeling.
Property Size5,784 SF
Lot Size0.30 Acres
Price / SF$146.96
Days on Market797
Property Features for 311-313 Grant St
General Information
Standard status
Active
Size
5,784 SF
Lot size
0.30 Acres
Property subtype
RETAIL
Listing Agency:
Hastings Cohn Real Estate
(716) 481-3325
Listed By:
Alan T. Hastings · License #10311203496
(716) 481-3325
Source:
Moodyscre
Added: May 24, 2024
Changed: Jul 10
Last Checked: Jul 21 at 5:48AM
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 Hastings Cohn Real Estate
Investment Insights
Based on property information with market context.
The property includes two buildings: 311 Grant St, a 1284 square foot building that was last used as a pharmacy and 313 Grant St, a 4500 square foot building (2250 square feet per floor) that was last used as an Italian Village Restaurant. The 311 Grant St building has been completely rehabbed with a new HVAC system, bathroom, dropped ceiling with lights, carpeting and tile, roof, and paving. It also features off-street parking and an adjacent lot for expansion. The 313 Grant St building has been completely gutted down to the exterior walls and is ready for remodeling. The second floor of the 313 Grant St building was previously an apartment.
Key Highlights
- 313 Grant St: Large 4500 sq. ft. building gutted and ready for remodeling, offering significant customization potential.
- 311 Grant St: Completely rehabbed 1284 sq. ft. building with new HVAC, bathroom, roof, and flooring, ready for immediate occupancy.
- Adjacent lot included, providing expansion possibilities.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.2k | $16.80 |
| − Vacancy | −$8.7k | −$1.51 |
| EGI | $88.4k | $15.29 |
| − OpEx | −$22.1k | −$3.82 |
| NOI | $66.3k | $11.47 |
5,784 SF · lease $16.80/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$947.4K
$829.0K – $1.11M
NOI $66,319 @ 7.0% cap · market cap 7.80%
Second Best
Retail
$804.9K
$704.3K – $939.0K
NOI $56,340 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,366 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Two buildings, one rehabbed, one ready for remodeling.
Where is this retail space located?
The property is located at 311-313 Grant St Buffalo, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 313 Grant St: Large 4500 sq. ft. building gutted and ready for remodeling, offering significant customization potential.; 311 Grant St: **Completely rehabbed 1284 sq. ft. building with new HVAC, bathroom, roof, and flooring, ready for immediate occupancy.**; Adjacent lot included, providing expansion possibilities.
