Office Condominium
For Sale
$139,500
151 Buffalo Avenue, Niagara Falls, NY 14303
Elevator-served space with central air and access to 20 parking spaces.
Property Size1,337 SF
Price / SF$104.34
Days on Market187
Property Features for 151 Buffalo Avenue
General Information
Standard status
Active
Size
1,337 SF
Total Parking Spaces
20
Elevators
Yes
Zoning
R4-A
Additional Details
HOA Fee
$591
Taxes and HOA fees
Annual Taxes
$2,792
Amenities
Elevators, FreightElevator, LoadingDock, Office
Zoned, Central Air
Natural Gas, Zoned, Baseboard, Forced Air
Building Details
Building Size
1,337 SF
Year Built
1963
Buildings
1
Stories
1
Listing Agency:
Stefik Realty Co.,Inc.
Listed By:
David W Stefik · License #31ST0751548
(716) 298-4000
Source:
Evrealestate
Added: Apr 13
Changed: Oct 11
Last Checked: Oct 16 at 6:24AM
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 Stefik Realty Co.,Inc.
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Investment Insights
Based on property information with market context.
This office condominium offers 1,337 SF within Parkway Condominiums, a high-rise property with more than 140 units. The space includes central air, gas service, and zone-based A/C, along with elevator access and a loading dock. The building was constructed in 1963.
The property is located at 151 Buffalo Ave in Niagara Falls, near downtown offices, the Niagara Scenic Parkway, the Grand Island Bridge, and Niagara Falls and Goat Island attractions. On-site parking includes 20 spaces. The condominium association fee includes all utilities.
The property is located at 151 Buffalo Ave in Niagara Falls, near downtown offices, the Niagara Scenic Parkway, the Grand Island Bridge, and Niagara Falls and Goat Island attractions. On-site parking includes 20 spaces. The condominium association fee includes all utilities.
Key Highlights
- 1,337 SF office condominium in Parkway Condominiums
- High‑rise property with more than 140 units
- 20 parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,778
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,560
$215.6K
Cap Rate 7%
$153,971
$154.0K
Cap Rate 9%
$119,756
$119.8K
Market Conditions
NOI Build-Up for 1,337 SF
Gross rent
$19.3K $14.40/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$18.0K $13.44/SF
− OpEx
−$7.2K −$5.37/SF
NOI
$10.8K $8.06/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$215,560
Cap Rate 7%
$153,971
Cap Rate 9%
$119,756
Alternative Uses
Best Use
Office B
$270.1K
$236.4K – $315.2K
NOI $18,909 @ 7.0% cap · market cap 13.55%
Second Best
Healthcare Medical
$154.0K
$134.7K – $179.6K
NOI $10,778 @ 7.0% cap · market cap 7.73%
Theoretical Best
Warehouse
$1.14M
$994.0K – $1.33M
NOI $79,523 @ 7.0% cap · market cap 57.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Explore this area
Business Placement
Demographics for 14303, NY
5,958
Population
3,505
Households
1.7
Avg Household Size
38
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
2,207
Density / Sq Mi
$45,519
Median Household Income
$34,623
Median Earnings
$845
Median Rent
$78,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Elevator-served space with central air and access to 20 parking spaces.
Where is this office units located?
The property is located at 151 Buffalo Avenue Niagara Falls, NY.
What is the asking price?
The asking price for this property is $139,500.
What are key features of this property?
This property features: 1,337 SF office condominium in Parkway Condominiums; High‑rise property with more than 140 units; 20 parking spaces included
