Industrial Land with
New
For Sale
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1499 Niagara Street, Buffalo, NY 14213
Development land is offered with an adjacent warehouse and garage for a combined commercial property configuration.
Property Size6,100 SF
Price / SF$113.93
Days on Market6
Property Features for 1499 Niagara Street
General Information
Standard status
Active
Size
6,100 SF
Property subtype
Industrial, Land
Listing Agency:
J.R. Militello Realty, Inc.
(716) 856-2872
Listed By:
Edward Mills · License #NY
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 5:41AM
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 J.R. Militello Realty, Inc.
Investment Insights
Based on property information with market context.
This industrial land offering includes a development lot together with an adjacent warehouse and garage. The associated improvements are located on West Avenue, while the development parcel is addressed at 1499 Niagara Street.
The property is identified in Buffalo, NY 14213 and combines land with existing industrial-related structures. The offering may suit users evaluating a development site with adjoining warehouse and garage space.
The property is identified in Buffalo, NY 14213 and combines land with existing industrial-related structures. The offering may suit users evaluating a development site with adjoining warehouse and garage space.
Key Highlights
- Development lot at 1499 Niagara Street
- Adjacent warehouse and garage on West Avenue
- Combined land and industrial improvement offering
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
$51,882
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
7.47%
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%
$1,037,640
$1.0M
Cap Rate 7%
$741,171
$741.2K
Cap Rate 9%
$576,467
$576.5K
Market Conditions
NOI Build-Up for 6,100 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
$62.2K $10.20/SF
− Vacancy
−$1.2K −$0.19/SF
EGI
$61.0K $10.01/SF
− OpEx
−$9.2K −$1.50/SF
NOI
$51.9K $8.51/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$1,037,640
Cap Rate 7%
$741,171
Cap Rate 9%
$576,467
Alternative Uses
Best Use
Warehouse
$741.2K
$648.5K – $864.7K
NOI $51,882 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,685 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
Median Home Value
Market
Vacancy Rate% for Industrial in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial land - Development land is offered with an adjacent warehouse and garage for a combined commercial property configuration.
Where is this industrial land located?
The property is located at 1499 Niagara Street Buffalo, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Development lot at 1499 Niagara Street; Adjacent warehouse and garage on West Avenue; Combined land and industrial improvement offering
