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    Mixed-Use Gem in North Buffalo Title is generated by Realmo AI

    1537 Hertel Ave, Buffalo, NY

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    All-brick mixed-use property with retail and apartments in vibrant location.

    Type:RETAIL
    Property size:
    6,930 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $139/SF
    Added:
    Jul 4, 2025
    Days on Market:
    346
    Last Refresh:
    May 20 at 9:12 pm

    Property Features for 1537 Hertel Ave

    General Information

    Standard status
    Active
    Size
    6,930 SF
    Lot size
    0.07 Acres
    Property subtype
    RETAIL

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    Listing Contact
    John Heffron
    John Heffron

    Listing agent John Heffron License #40HE0999928

    Listing office Gurney Becker & Bourne

    Listing date Jul 4, 2025

    Source Moodyscre

    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 Gurney Becker & Bourne

    HighLights

    • Prime location on a vibrant block of Hertel Strip in North Buffalo.
    • Nearly 4,000 square feet of prime retail frontage, total space close to 8,000 square feet.
    • Mixed‑use building with retail space and two updated apartments.
    • Income‑generating potential from retail space and apartments.
    • All‑brick construction with timeless curb appeal.
    • Flexible layout offering endless potential for various uses.

    Overview

    This all-brick, mixed-use property, known as The Colvin, is located in the heart of North Buffalo on one of Hertel Strip’s most vibrant blocks. The building offers nearly 8,000 square feet of total space, including close to 4,000 square feet of prime retail frontage. Currently, the retail space is home to an antique shop that draws steady foot traffic. Upstairs, there are two updated apartments, suitable for generating additional income or for living steps away from the business. The property offers potential for entrepreneurs, investors in one of Buffalo’s dynamic neighborhoods. The property size is 6,930 square feet.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $133.1k $19.20
    − Vacancy −$13.3k −$1.92
    EGI $119.8k $17.28
    − OpEx −$44.9k −$6.48
    NOI $74.8k $10.80
    6,930 SF · lease $19.20/SF/yr · vacancy 10.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $1.07M
    $935.6K – $1.25M (±1% cap)
    NOI $74,844 @ 7.0% cap · market cap 7.72%
    Second Best
    Retail
    $964.3K
    $843.8K – $1.13M (±1% cap)
    NOI $67,503 @ 7.0% cap · market cap 6.97%
    Theoretical Best
    Office A
    $1.67M
    $1.46M – $1.94M (±1% cap)
    NOI $116,657 @ 7.0% cap · market cap 12.04%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8512
    Latitude
    42.9474

    FAQs

    What type of property is this?
    Mixed-use property - All-brick mixed-use property with retail and apartments in vibrant location.
    Where is this mixed-use property located?
    The property is located at 1537 Hertel Ave Buffalo, NY.
    What is the asking price?
    The asking price for this property is $969,000.
    What are key features of this property?
    This property features: Prime location on a vibrant block of Hertel Strip in North Buffalo.; Nearly 4,000 square feet of prime retail frontage, total space close to 8,000 square feet.; Mixed‑use building with retail space and two updated apartments.
    (716) 849-1234 Call to check price and availability
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