Three-Story Office
For Sale
$799,900
1281 Union Road, West Seneca, NY 14224
Elevator service reaches every level, supporting accessible circulation for occupants and visitors.
Property Size4,855 SF
Price / SF$164.76
Days on Market14
Property Features for 1281 Union Road
General Information
Standard status
Active
Size
4,855 SF
Total Parking Spaces
41
Elevators
Yes
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
3
Listing Agency:
Howard Hanna WNY Inc.
(716) 308-7452
Listed By:
Bethany Botzenhart
(716) 308-7452
Source:
Nicholcityrealty
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 25 at 9:53AM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
Located at 1281 Union Rd in Buffalo, this 4,855-square-foot office property contains three floors and was built in 1988. Elevator service connects each level, supporting office, medical, dental, and other professional uses. The layout provides flexibility for an owner-user or business seeking space for its operations.
On-site parking accommodates 41 vehicles for staff and visitors. The building is positioned minutes from Southgate Plaza and major expressways, providing access for employees, clients, and patients. Its combination of vertical circulation, dedicated parking, and professional office configuration supports a range of commercial occupants.
On-site parking accommodates 41 vehicles for staff and visitors. The building is positioned minutes from Southgate Plaza and major expressways, providing access for employees, clients, and patients. Its combination of vertical circulation, dedicated parking, and professional office configuration supports a range of commercial occupants.
Key Highlights
- 4,855‑square‑foot, three‑story office building
- Elevator access serves all three floors
- On‑site parking for 41 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,539
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,780
$1.2M
Cap Rate 7%
$864,843
$864.8K
Cap Rate 9%
$672,656
$672.7K
Market Conditions
NOI Build-Up for 4,855 SF
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.
Gross rent
$99.0K $20.40/SF
− Vacancy
−$18.3K −$3.77/SF
EGI
$80.7K $16.63/SF
− OpEx
−$20.2K −$4.16/SF
NOI
$60.5K $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,210,780
Cap Rate 7%
$864,843
Cap Rate 9%
$672,656
Alternative Uses
Best Use
Office B
$864.8K
$756.7K – $1.01M
NOI $60,539 @ 7.0% cap · market cap 7.57%
Second Best
Healthcare Medical
$827.0K
$723.6K – $964.8K
NOI $57,887 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,727 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Elevator service reaches every level, supporting accessible circulation for occupants and visitors.
Where is this office building located?
The property is located at 1281 Union Road West Seneca, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 4,855‑square‑foot, three‑story office building; Elevator access serves all three floors; On‑site parking for 41 vehicles
