Restaurant Building with Banquet
For Sale
Contact for pricing
1537 Union Rd, West Seneca, NY 14224
Restaurant with a built-out basement banquet room and direct access to major expressway traffic.
Property Size8,367 SF
Price / SF$137.44
Days on Market140
Property Features for 1537 Union Rd
General Information
Standard status
Active
Size
8,367 SF
Property subtype
RETAIL
Site & Location
Traffic Count
31,631 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
Caliber Commercial Brokerage, LLC
(585) 454-4500
Listed By:
Jacob Rivera
Source:
Moodyscre
Added: Mar 13
Changed: Jul 29
Last Checked: Jul 29 at 8:23PM
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 Caliber Commercial Brokerage, LLC
Investment Insights
Based on property information with market context.
Restaurant building at 1537 Union Rd in West Seneca, NY, offering a combination of food service and residential space. The building includes Papa’s Pizza Oven, three fully occupied apartments, and a built-out basement currently set up as a banquet room.
Traffic and access are major strengths, with high-volume exposure along Union Rd (31,631 vpd). The property also has direct access to the Aurora Expressway (35,469 vpd), supporting convenient customer reach for both the restaurant and its attached uses. The full mix of restaurant and apartments generates annual income across the building.
The property totals 8,367 SF and is configured to support on-site dining and event-style use in the basement, while maintaining three apartment units under full occupancy.
Traffic and access are major strengths, with high-volume exposure along Union Rd (31,631 vpd). The property also has direct access to the Aurora Expressway (35,469 vpd), supporting convenient customer reach for both the restaurant and its attached uses. The full mix of restaurant and apartments generates annual income across the building.
The property totals 8,367 SF and is configured to support on-site dining and event-style use in the basement, while maintaining three apartment units under full occupancy.
Key Highlights
- Papa’s Pizza Oven included
- Built‑out basement set up as a banquet room
- Three fully occupied apartments
Financial Insights For Specialty Retail
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 | $140.6k | $16.80 |
| − Vacancy | −$12.7k | −$1.51 |
| EGI | $127.9k | $15.29 |
| − OpEx | −$32.0k | −$3.82 |
| NOI | $95.9k | $11.47 |
8,367 SF · lease $16.80/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,936 @ 7.0% cap · market cap 8.34%
Second Best
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $83,022 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,847 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
31,631 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with a built-out basement banquet room and direct access to major expressway traffic.
Where is this conventional restaurant located?
The property is located at 1537 Union Rd West Seneca, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Papa’s Pizza Oven included; Built‑out basement set up as a banquet room; Three fully occupied apartments
