Renovated 40-Unit Apartment
For Sale
Contact for pricing
1416 Main Street, Buffalo, NY 14209
Four renovated assets offer residential apartments alongside a single commercial unit in a multifamily portfolio.
Property Size31,194 SF
Price / SF$118.29
Days on Market107
Property Features for 1416 Main Street
General Information
Standard status
Active
Size
31,194 SF
Class
B
Total Parking Spaces
12
Property subtype
Multifamily, Mixed Use
Occupancy
93%
Investment Type
Value Add
Net Operating Income
$313,632
Additional Details
Multifamily Units
39
Building Details
Year Built
1886
Year Renovated
2023
Buildings
4
Units
40
Tenancy
Multi
Listing Agency:
Chubb Aubrey Leonard Real Estate
Listed By:
Todd Danni · License #NY 10301201083
(716) 465-1282
Source:
Crexi
Added: Jul 3
Changed: Oct 11
Last Checked: Oct 16 at 6:30AM
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 Chubb Aubrey Leonard Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily portfolio includes four renovated assets with 40 total units. The configuration consists of 39 residential apartments and one commercial unit, with studio, one-bedroom, and two-bedroom layouts represented. Interior and exterior renovation work was completed between 2023 and 2026. The buildings date to 1886, establishing an older property base with updated components.
Located at 1416 Main Street in Buffalo, NY 14209, the offering combines multiple apartment formats with a commercial component across the four-asset portfolio. The residential inventory spans three stated layouts: studios, one-bedroom units, and two-bedroom units. The portfolio is offered for sale.
Located at 1416 Main Street in Buffalo, NY 14209, the offering combines multiple apartment formats with a commercial component across the four-asset portfolio. The residential inventory spans three stated layouts: studios, one-bedroom units, and two-bedroom units. The portfolio is offered for sale.
Key Highlights
- Four renovated assets totaling 40 units
- 39 residential units plus one commercial unit
- Studio, one‑bedroom, and two‑bedroom apartment layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$336,895
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,737,900
$6.7M
Cap Rate 7%
$4,812,786
$4.8M
Cap Rate 9%
$3,743,278
$3.7M
Market Conditions
NOI Build-Up for 31,194 SF
Gross rent
$598.9K $19.20/SF
− Vacancy
−$59.9K −$1.92/SF
EGI
$539.0K $17.28/SF
− OpEx
−$202.1K −$6.48/SF
NOI
$336.9K $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%
$6,737,900
Cap Rate 7%
$4,812,786
Cap Rate 9%
$3,743,278
Alternative Uses
Best Use
Mixed Use
$4.81M
$4.21M – $5.61M
NOI $336,895 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$4.07M
$3.56M – $4.75M
NOI $285,093 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$7.50M
$6.56M – $8.75M
NOI $525,107 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
39
Residential units
Location Intelligence
Trade Area within ½ mile
1,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four renovated assets offer residential apartments alongside a single commercial unit in a multifamily portfolio.
Where is this apartment building located?
The property is located at 1416 Main Street Buffalo, NY.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: Four renovated assets totaling 40 units; 39 residential units plus one commercial unit; Studio, one‑bedroom, and two‑bedroom apartment layouts
