Building Details

Tenancy Multi

Listing Agency: CBRE | Buffalo

Listed By: Lida Eberz · License #Real Estate Salesperson Show Phone

Source: Cbre

Added: Oct 19 Last Checked: Oct 19 at 2:27PM

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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 CBRE | Buffalo

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Investment Insights

Based on property information with market context.

At 1362 Hertel Avenue, this 3,528-square-foot mixed-use property includes two commercial spaces and two apartments, each with two bedrooms. All four units are leased, and utilities are served by four separate meters.

The property has off-street parking for 5 cars and is 6 mi. north of Buffalo’s central business district. Buffalo State University, Canisius University, and the University at Buffalo South Campus are nearby.

Key Highlights

• All four commercial and apartment units are leased
• Two commercial spaces and two two‑bedroom apartments
• 3,528 square feet with utilities on 4 separate meters

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,102

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,040 $762.0K

Cap Rate 7%

$544,314 $544.3K

Cap Rate 9%

$423,356 $423.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,528 SF

Gross rent

$67.7K $19.20/SF

− Vacancy

−$6.8K −$1.92/SF

EGI

$61.0K $17.28/SF

− OpEx

−$22.9K −$6.48/SF

NOI

$38.1K $10.80/SF

Area

Buffalo, NY

Vacancy

10.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,040

Cap Rate 7%

$544,314

Cap Rate 9%

$423,356

Alternative Uses

Best Use

Mixed Use

$544.3K

$476.3K – $635.0K (±1% cap)

NOI $38,102 @ 7.0% cap · market cap 4.62%

Second Best

Retail

$490.9K

$429.6K – $572.8K (±1% cap)

NOI $34,365 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$848.4K

$742.4K – $989.8K (±1% cap)

NOI $59,389 @ 7.0% cap · market cap 7.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Zarell Clothing & Fashion Store Zarell Fashion Clothing Store Golden Hearts Tattoo Tattoo & Piercing Shop Art Gallery Art Gallery

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Kitchen & Bath Showroom Electrical Service Law Firm Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,013

Businesses Nearby

Explore this area Business Placement

Demographics for 14216, NY

22,979

Population

12,773

Households

1.8

Avg Household Size

37

Median Age

54%

College-Educated

94%

High-School Grad

2.8 sq mi

ZIP Area

8,207

Density / Sq Mi

$70,260

Median Household Income

$47,823

Median Earnings

$1,152

Median Rent

$260,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Four separately metered spaces combine commercial occupancy with two-bedroom residential apartments.

Where is this mixed-use property located?

The property is located at 1362 Hertel Avenue Buffalo, NY.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: All four commercial and apartment units are leased; Two commercial spaces and two two‑bedroom apartments; 3,528 square feet with utilities on 4 separate meters