Net-Lease Restaurant with Large
For Sale
Contact for pricing
301 Cleveland Dr, Buffalo, NY 14215
Fully rehabbed net-leased restaurant building includes a large kitchen and basement walk-in cooler and freezer.
Property Size4,053 SF
Price / SF$111.03
Days on Market1210
Property Features for 301 Cleveland Dr
General Information
Standard status
Active
Size
4,053 SF
Total Parking Spaces
52
Property subtype
RETAIL
Additional Details
Business Included
No
Building Details
Tenancy
Single
Listing Agency:
Hunt Commercial - Buffalo
(716) 854-5943
Listed By:
Joseph Farrauto · License #10301211758
(716) 465-2063
Source:
Moodyscre
Added: Jul 7, 2023
Changed: Oct 25
Last Checked: Oct 26 at 8:10PM
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 Hunt Commercial - Buffalo
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Investment Insights
Based on property information with market context.
This net-leased restaurant property has been fully rehabbed “from top to bottom,” with updates including the roof, exterior, HVAC, electrical, flooring, and bathrooms. The bar, dining room, and large kitchen have been restored, and the building includes a full basement walk-in cooler and freezer. Site improvements include an updated parking lot with 52 parking spaces.
The property is located at 301 Cleveland Dr in Buffalo, NY 14215 and is offered as an income-producing investment with a long-term tenant in place running a successful restaurant business. Reported gross income is $46,100 per year.
The property is located at 301 Cleveland Dr in Buffalo, NY 14215 and is offered as an income-producing investment with a long-term tenant in place running a successful restaurant business. Reported gross income is $46,100 per year.
Key Highlights
- Net‑leased restaurant building with a long‑term tenant and restaurant operations on site
- Fully rehabbed throughout, including updated roof, exterior, HVAC, electrical, flooring, baths, kitchen, and parking lot
- Restaurant layout includes bar, dining room, and large kitchen that have been restored
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,389
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,780
$567.8K
Cap Rate 7%
$405,557
$405.6K
Cap Rate 9%
$315,433
$315.4K
Market Conditions
NOI Build-Up for 4,053 SF
Gross rent
$41.3K $10.20/SF
− Vacancy
−$785 −$0.19/SF
EGI
$40.6K $10.01/SF
− OpEx
−$12.2K −$3.00/SF
NOI
$28.4K $7.00/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,780
Cap Rate 7%
$405,557
Cap Rate 9%
$315,433
Alternative Uses
Best Use
Specialty Retail
$663.9K
$580.9K – $774.5K
NOI $46,472 @ 7.0% cap · market cap 10.33%
Second Best
Industrial
$405.6K
$354.9K – $473.2K
NOI $28,389 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$974.7K
$852.8K – $1.14M
NOI $68,227 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Buffalo, NY
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully rehabbed net-leased restaurant building includes a large kitchen and basement walk-in cooler and freezer.
Where is this conventional restaurant located?
The property is located at 301 Cleveland Dr Buffalo, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Net‑leased restaurant building with a long‑term tenant and restaurant operations on site; Fully rehabbed throughout, including updated roof, exterior, HVAC, electrical, flooring, baths, kitchen, and parking lot; Restaurant layout includes bar, dining room, and large kitchen that have been restored
