Remodeled Medical/Office Property in Elmwood
For Sale
Contact for pricing
142 Bidwell Pkwy, Buffalo, NY
High-end medical/office property in Buffalo's Elmwood Village.
Property Size2,643 SF
Lot Size0.08 Acres
Price / SF$340.52
Days on Market409
Property Features for 142 Bidwell Pkwy
General Information
Standard status
Active
Size
2,643 SF
Lot size
0.08 Acres
Property subtype
OFFICE
Listing Agency:
CBRE | Buffalo
(716) 912-2285
Listed By:
Lida Eberz · License #10401387094
(716) 912-2285
Source:
Moodyscre
Added: Jul 8, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:39PM
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
Investment Insights
Based on property information with market context.
This 2,643 square foot, three-story property, originally constructed in 1910 and recently remodeled, is located in Buffalo’s Elmwood Village. The building features hardwood floors, vintage chandeliers, and built-in cabinetry throughout. The roof was completed in 2023. The interior design emphasizes elegance and functionality, incorporating marble countertops, plumbing, and French pocket doors with leaded glass. The first floor includes a reception area, a kitchenette, and four exam/treatment rooms, each equipped with plumbing. The second floor offers four treatment rooms, with plumbing available in three of them. This property is suitable for various uses, including a medi spa, dermatology practice, massage therapy center, general therapy office, or boutique retail space.
Key Highlights
- High‑end medical/office property in Buffalo's Elmwood Village.
- Remodeled with elegance and functionality: marble countertops, vintage chandeliers, and French pocket doors with leaded glass.
- Equipped with multiple exam/treatment rooms with plumbing on both the first and second floors.
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
$32,957
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
3.66%
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%
$659,140
$659.1K
Cap Rate 7%
$470,814
$470.8K
Cap Rate 9%
$366,189
$366.2K
Market Conditions
NOI Build-Up for 2,643 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
$53.9K $20.40/SF
− Vacancy
−$10.0K −$3.77/SF
EGI
$43.9K $16.63/SF
− OpEx
−$11.0K −$4.16/SF
NOI
$33.0K $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%
$659,140
Cap Rate 7%
$470,814
Cap Rate 9%
$366,189
Alternative Uses
Best Use
Office B
$470.8K
$412.0K – $549.3K
NOI $32,957 @ 7.0% cap · market cap 3.66%
Second Best
Healthcare Medical
$450.2K
$393.9K – $525.2K
NOI $31,513 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$635.6K
$556.1K – $741.5K
NOI $44,491 @ 7.0% cap · market cap 4.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - High-end medical/office property in Buffalo's Elmwood Village.
Where is this medical office space located?
The property is located at 142 Bidwell Pkwy Buffalo, NY.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: High‑end medical/office property in Buffalo's Elmwood Village.; Remodeled with elegance and functionality: **marble countertops, vintage chandeliers, and French pocket doors with leaded glass.**; Equipped with multiple exam/treatment rooms with plumbing on both the first and second floors.
