Retail/Commercial Storefront
For Sale
$700,000
3146 North Bailey Avenue, Buffalo, NY 14226
Former Rent-A-Center storefront with prominent Bailey Avenue frontage and ample on-site parking for flexible retail and office use.
Property Size5,712 SF
Price / SF$122.55
Days on Market64
Property Features for 3146 North Bailey Avenue
General Information
Standard status
Active
Size
5,712 SF
Property subtype
Street Retail
Additional Details
Highway Access
Yes
Building Details
Building Size
5,712 SF
Year Built
1978
Properties For Sale
at 3146 North Bailey Avenue Contact us- Size
- 5,712 SF
Unit
Listing Agency:
Recckio Real Estate & Development, Inc.
Listed By:
Rick Recckio · License #31RE0821429
(716) 998-4422
Source:
Thebrokerlist
Added: Jul 3
Changed: Sep 2
Last Checked: Sep 4 at 2:04AM
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 Recckio Real Estate & Development, Inc.
Investment Insights
Based on property information with market context.
3146 North Bailey Avenue is a retail/commercial storefront property formerly occupied by Rent-A-Center. The building includes a functional commercial layout that can support a range of uses, including retail, showroom, office, medical, educational, service, or destination-oriented operations.
The property is positioned for visibility and customer access with prominent frontage along Bailey Avenue and signage opportunities. It sits on a generous site with ample on-site parking, and is located near the intersection of Bailey Avenue and Eggert Road within the City of Buffalo. Surrounding businesses and residential neighborhoods contribute to a consistent neighborhood presence along an established commercial corridor.
For connectivity, the site is described as providing convenient access to major thoroughfares including Kensington Expressway (Route 33), Interstate 290, and Main Street.
The property is positioned for visibility and customer access with prominent frontage along Bailey Avenue and signage opportunities. It sits on a generous site with ample on-site parking, and is located near the intersection of Bailey Avenue and Eggert Road within the City of Buffalo. Surrounding businesses and residential neighborhoods contribute to a consistent neighborhood presence along an established commercial corridor.
For connectivity, the site is described as providing convenient access to major thoroughfares including Kensington Expressway (Route 33), Interstate 290, and Main Street.
Key Highlights
- Former Rent‑A‑Center storefront; 1978‑built commercial building on Bailey Avenue in the City of Buffalo
- Prominent frontage along Bailey Avenue with customer access suitable for retail, showroom, office, medical, education, service, or destination uses
- Generous site with ample on‑site parking
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
$55,639
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
7.95%
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%
$1,112,780
$1.1M
Cap Rate 7%
$794,843
$794.8K
Cap Rate 9%
$618,211
$618.2K
Market Conditions
NOI Build-Up for 5,712 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
$89.1K $15.60/SF
− Vacancy
−$9.6K −$1.68/SF
EGI
$79.5K $13.92/SF
− OpEx
−$23.8K −$4.17/SF
NOI
$55.6K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,112,780
Cap Rate 7%
$794,843
Cap Rate 9%
$618,211
Alternative Uses
Best Use
Retail
$794.8K
$695.5K – $927.3K
NOI $55,639 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,154 @ 7.0% cap · market cap 13.74%
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
817
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Former Rent-A-Center storefront with prominent Bailey Avenue frontage and ample on-site parking for flexible retail and office use.
Where is this storefront property located?
The property is located at 3146 North Bailey Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Former Rent‑A‑Center storefront; 1978‑built commercial building on Bailey Avenue in the City of Buffalo; Prominent frontage along Bailey Avenue with customer access suitable for retail, showroom, office, medical, education, service, or destination uses; Generous site with ample on‑site parking
