Building Details

Year Built 1979

Buildings 1

Building Size 3,821 SF

Listing Agency: Hunt Commercial - Buffalo Show Phone

Listed By: Michael Scheid Show Phone

Source: Moodyscre

Added: Mar 13, 2025 Changed: Oct 25 Last Checked: Oct 28 at 10:26AM

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Investment Insights

Based on property information with market context.

This office building offers 3,821 SF of space designed for either office or medical use. Constructed in 1979, the property provides solid, long-lasting construction and is described as well maintained for immediate investment use. The building is zoned A, which can provide flexibility for a variety of potential uses within that land-use classification.

The property is fully leased with 100% occupancy, positioning it for immediate tenancy rather than a leasing-up period. It is located at 1430 Colvin Blvd in Buffalo, NY 14223.

With a layout prepared to meet modern tenant needs, the building can support an office or medical tenant seeking a longer-term space.

Key Highlights

• 3,821 SF office building suitable for office or medical use
• Constructed in 1979
• Zoned A

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,646

Cap Rate

5.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$952,920 $952.9K

Cap Rate 7%

$680,657 $680.7K

Cap Rate 9%

$529,400 $529.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,821 SF

Gross rent

$77.9K $20.40/SF

− Vacancy

−$14.4K −$3.77/SF

EGI

$63.5K $16.63/SF

− OpEx

−$15.9K −$4.16/SF

NOI

$47.6K $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 Rate 5%

$952,920

Cap Rate 7%

$680,657

Cap Rate 9%

$529,400

Alternative Uses

Best Use

Office B

$680.7K

$595.6K – $794.1K (±1% cap)

NOI $47,646 @ 7.0% cap · market cap 5.29%

Second Best

Healthcare Medical

$650.8K

$569.5K – $759.3K (±1% cap)

NOI $45,559 @ 7.0% cap · market cap 5.06%

Theoretical Best

Office A

$918.9K

$804.0K – $1.07M (±1% cap)

NOI $64,321 @ 7.0% cap · market cap 7.15%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Bartels Edward Kell ... Physician Weissman Mark A MD Physician Julie Gavin Physician Dr. Calogero Ippolito Pediatrician Chelsea Ying Physician

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Daycare Center

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

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

585

Businesses Nearby

Explore this area Business Placement

Demographics for 14223, NY

22,658

Population

10,586

Households

2.1

Avg Household Size

41

Median Age

44%

College-Educated

97%

High-School Grad

3.5 sq mi

ZIP Area

6,474

Density / Sq Mi

$83,528

Median Household Income

$49,835

Median Earnings

$976

Median Rent

$202,200

Median Home Value

Market

Vacancy Rate% for Office in Buffalo, NY

15.4% 2019

16.5% 2020

16.5% 2021

18.5% 2022

18.2% 2023

21.1% 2024

21% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Versatile office building zoned A and fully leased at 100% occupancy, built in 1979.

Where is this office building located?

The property is located at 1430 Colvin Blvd Buffalo, NY.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: 3,821 SF office building suitable for office or medical use; Constructed in 1979; Zoned A