Mixed-Use Property with
For Sale
$395,000
1770 PARK AVE, Buffalo, NY 14220
Remodeled building combining a three-bedroom apartment with a separate storefront and off-street parking.
Property Size3,100 SF
Price / SF$127.42
Days on Market50
Property Features for 1770 PARK AVE
General Information
Standard status
Active
Size
3,100 SF
Property subtype
General Commercial
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Average Monthly Rent
$1,600
Taxes and HOA fees
Annual Taxes
$2,783
Amenities
deck
central air
Gas
3
Hardwood, Vinyl, Carpet, Linoleum
Metal
5 Parking Spaces. Driveway.
Rectangular
35X175
Rectangular.
Building Details
Year Built
1928
Buildings
1
Stories
1
Listing Agency:
WNY Metro Roberts Realty
(716) 830-9937
Listed By:
Suzanne Abraszek
(716) 830-9937
Source:
Xome
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 3:42PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains a 3,100-square-foot building with a three-bedroom apartment and a 600-square-foot storefront. Recent improvements include a metal roof and siding, updated kitchen with appliances, new bathroom, hardwood floors, replacement windows, updated plumbing, and new gutters. The apartment also features central air, a newer furnace, and a newer hot water tank. A 12-by-12-foot rear deck adds exterior space.
The property occupies a double lot measuring 35 by 175 feet, with five parking spaces and a driveway. The rectangular parcel includes a buildable lot. Located at 1770 Park Ave in Buffalo, the property is approximately 10 minutes from Downtown Buffalo and 15 minutes from the Stadium. The current tenant has a lease extending through March 2027.
The property occupies a double lot measuring 35 by 175 feet, with five parking spaces and a driveway. The rectangular parcel includes a buildable lot. Located at 1770 Park Ave in Buffalo, the property is approximately 10 minutes from Downtown Buffalo and 15 minutes from the Stadium. The current tenant has a lease extending through March 2027.
Key Highlights
- 3,100 SF mixed‑use building with a 600 sq. ft. storefront
- Three‑bedroom apartment with central air, newer furnace, and newer hot water tank
- Recent updates include roof, siding, kitchen, bathroom, windows, plumbing, and gutters
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
$33,480
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
8.48%
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%
$669,600
$669.6K
Cap Rate 7%
$478,286
$478.3K
Cap Rate 9%
$372,000
$372.0K
Market Conditions
NOI Build-Up for 3,100 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
$59.5K $19.20/SF
− Vacancy
−$6.0K −$1.92/SF
EGI
$53.6K $17.28/SF
− OpEx
−$20.1K −$6.48/SF
NOI
$33.5K $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%
$669,600
Cap Rate 7%
$478,286
Cap Rate 9%
$372,000
Alternative Uses
Best Use
Mixed Use
$478.3K
$418.5K – $558.0K
NOI $33,480 @ 7.0% cap · market cap 8.48%
Second Best
Retail
$431.4K
$377.5K – $503.3K
NOI $30,196 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$745.5K
$652.3K – $869.7K
NOI $52,184 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 14220, NY
23,959
Population
11,286
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
6,305
Density / Sq Mi
$68,337
Median Household Income
$42,112
Median Earnings
$974
Median Rent
$180,200
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Remodeled building combining a three-bedroom apartment with a separate storefront and off-street parking.
Where is this mixed-use property located?
The property is located at 1770 PARK AVE Buffalo, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,100 SF mixed‑use building with a 600 sq. ft. storefront; Three‑bedroom apartment with central air, newer furnace, and newer hot water tank; Recent updates include roof, siding, kitchen, bathroom, windows, plumbing, and gutters
