Add Listing
    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

    3507 S Park Ave Hamburg, NY 14219

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $249,900

    Multifamily property featuring recent updates and potential living space.

    Lot size:
    0.53 Acres

    Property Features for 3507 S Park Ave

    General Information

    Property type
    Multi Family
    Standard status
    Pending
    Lot size
    0.53 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Erica Giallella
    Source: Elliman

    Listing Agent: Erica Giallella

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

    Learn more

    Overview

    Hamburg Multifamily Property for Sale

    This multifamily property features a roof replaced in 2015 and full house electrical updates completed in 2023. All windows were replaced in 2010. The property includes three boilers and one furnace scheduled for replacement in 2025, along with four hot water tanks also scheduled for replacement in 2025. The basement is separated for tenants. A full attic is present, offering the potential for conversion into additional living space. Emergency step ladders are installed on the second floor.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hamburg
    County
    Erie
    State
    New York
    Longitude
    -78.824569
    Latitude
    42.8048283

    Nearby Similar for Sale

    • $325,000
      939 SF

      Turn-Key Commercial Opportunity in Hamburg

      Well-maintained commercial space in the heart of Hamburg, NY.
      133 Pine St, Hamburg, NY 14075
      View Details
    • $449,000
      3,288 SF

      Four-Unit Property in Hamburg Village

      Rare, well-maintained four-unit property in a sought-after walkable community.
      4181 Legion Dr, Hamburg, NY 14075
      View Details
    • $449,900

      Auto Shop with Service Bays

      Block construction auto shop with service bays for sale.
      3233 Lake Shore Rd, Hamburg, NY 14219
      View Details
    • Contact for pricing

      Automotive Garage with Repair Zoning

      Four-bay service garage with parking, repair zoning, and high visibility.
      4632 Lake Shore Rd, Hamburg, NY 14075
      View Details
    • $1,800,000

      Retail Parcel on Southwestern Boulevard

      Highly visible retail parcel in Hamburg, NY for sale.
      4945 Southwestern Blvd, Hamburg, NY 14075
      View Details
    • $700,000
      Pending

      Church, Rectory & Convent For Sale

      Three dwellings: church, rectory, and convent available for purchase.
      3688 S Park Ave, Hamburg, NY 14219
      View Details
    • $325,000

      Freestanding Garage/Warehouse on Route 5

      Renovated garage/warehouse on Route 5, Hamburg. On-site parking.
      4632 Lake Shore Rd, Hamburg, NY 14075
      View Details
    • $449,900

      Auto Shop with Service Bays

      Auto shop with three service bays, in need of renovation.
      3233 Lake Shore Rd, Hamburg, NY 14219
      View Details
    • $595,000

      Mixed-Use Buildings with Lake Views

      Four buildings with retail, restaurant, apartments, and lake views.
      4467 Lake Shore Rd, Hamburg, NY 14075
      View Details
    • $799,000

      Turn-Key Restaurant and Bar For Sale

      Fully equipped restaurant and bar with large parking and patio.
      5381 Abbott Rd, Hamburg, NY 14075
      View Details
    • $425,000

      Professional Office Building with Garage

      Professional office building with parking and garage near Lake Erie.
      3368 Camp Rd, Hamburg, NY 14075
      View Details
    • $250,000

      Adaptable Retail Building For Sale

      Structurally sound 1200 sq. ft. building in walkable community.
      69 Buffalo St, Hamburg, NY 14075
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property featuring recent updates and potential living space.
    Where is this multifamily property located?
    The property is located at 3507 S Park Ave Hamburg, NY.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Separate basement for tenants offers income potential; - New furnace and hot water tanks installed in 2025; - Full house electrical updated in 2023
    (716) 867-0232
    Request Owner's contact information
    3507 S Park Ave Hamburg, NY 14219
    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.
    3507 S Park Ave
    Hamburg, NY 14219
    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
    3507 S Park Ave Hamburg, NY 14219
    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
    Erica Giallella
    Real Estate License ID: 10401347536
    (716) 867-0232 (716) 662-0449
    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!