Renovated Mixed-Use
For Sale
$999,900
162 Kerns Ave, Buffalo, NY 14211
CommercialSale, Buffalo, NY
Property Size7,691 SF
Lot Size1.06 Acres
Price / SF$130.01
Days on Market20
Property Features for 162 Kerns Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
N-3C
Zoning description
Commercial
Parking
32
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-101-260-0007-001-120
Size
7,691 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Annual Amount
8005
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Other (Heating)
Amenities
reception area
commercial-size kitchen
cafeteria
2-car garage
utility room
200-amp electrical service
flat roof
private restroom and shower
10 full bathrooms
Building Details
Year built
1956
Floors in Building
2
Flooring type
Carpet
Roof type
Flat
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
MD Zahid Al Mamun · License #10401401589
(347) 357-4253
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 20 at 12:06PM
MLS# B1694318
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated two-story mixed-use building contains approximately 7,691 square feet on a 1.06-acre lot. The first floor includes a reception area, commercial kitchen, cafeteria, and seven office suites. Seven studio suites occupy the second floor, each with a private restroom and shower. The property has 10 full bathrooms, carpeted flooring, a utility room, flat roof, natural gas and baseboard heating, public sewer, and 200-amp electrical service.
On-site parking includes 32 off-street spaces, supplemented by on-street parking. A two-car garage is also included. The property carries N-3C zoning and includes lower-level office space leased through December 31, 2026, while all seven upper studios are vacant. The offering is available in its present condition.
On-site parking includes 32 off-street spaces, supplemented by on-street parking. A two-car garage is also included. The property carries N-3C zoning and includes lower-level office space leased through December 31, 2026, while all seven upper studios are vacant. The offering is available in its present condition.
Key Highlights
- Approximately 7,691 square feet on a 1.06‑acre lot
- Fully renovated two‑story mixed‑use building
- Seven first‑floor office suites and seven second‑floor studio suites
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
$83,063
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
8.31%
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%
$1,661,260
$1.7M
Cap Rate 7%
$1,186,614
$1.2M
Cap Rate 9%
$922,922
$922.9K
Market Conditions
NOI Build-Up for 7,691 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
$147.7K $19.20/SF
− Vacancy
−$14.8K −$1.92/SF
EGI
$132.9K $17.28/SF
− OpEx
−$49.8K −$6.48/SF
NOI
$83.1K $10.80/SF
Area
Buffalo, NY
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,661,260
Cap Rate 7%
$1,186,614
Cap Rate 9%
$922,922
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,903 @ 7.0% cap · market cap 9.59%
Second Best
Mixed Use
$1.19M
$1.04M – $1.38M
NOI $83,063 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,467 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Office units
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial property with office suites, studio suites, parking, and N-3C zoning.
Where is this mixed-use property located?
The property is located at 162 Kerns Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Approximately 7,691 square feet on a 1.06‑acre lot; Fully renovated two‑story mixed‑use building; Seven first‑floor office suites and seven second‑floor studio suites
