Mixed-Use Building with Two
For Sale
$315,000
189 Buffalo Street, Hamburg, NY 14075
Two street-level commercial units and one residential apartment above, with current commercial occupancy and rental income.
Property Size2,981 SF
Days on Market127
Property Features for 189 Buffalo Street
General Information
Standard status
Active
Size
2,981 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
Mixed Use, Commercial
Additional Details
Cap Rate
9%
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,343
Building Details
Building Size
2,981 SF
Year Built
1940
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Main Woods Real Estate
(716) 374-0929
Listed By:
Daniel Demont
(716) 374-0929
Source:
Homeprocny
Added: Apr 20
Changed: Aug 23
Last Checked: Aug 22 at 9:04AM
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 Main Woods Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property includes two first-floor commercial units and one residential apartment on the upper level. The ground-floor space is currently occupied by a dog grooming business and a retail boutique, with street-level presence designed for visibility to passing customers. The apartment provides additional rental income within the same building.
Located in the heart of the Village of Hamburg, the property is surrounded by established businesses, restaurants, and neighborhood amenities, supporting day-to-day demand for both retail and services. The commercial tenants benefit from the building’s street visibility.
Offered for sale as a mixed-use investment, the configuration pairs active storefront operations below with residential occupancy above.
Located in the heart of the Village of Hamburg, the property is surrounded by established businesses, restaurants, and neighborhood amenities, supporting day-to-day demand for both retail and services. The commercial tenants benefit from the building’s street visibility.
Offered for sale as a mixed-use investment, the configuration pairs active storefront operations below with residential occupancy above.
Key Highlights
- Built in 1940 mixed‑use property with two street‑level commercial units and one residential apartment above
- First‑floor commercial spaces are occupied by a dog grooming business and a retail boutique
- Upper residential apartment provides additional rental income
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
$28,003
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
8.89%
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%
$560,060
$560.1K
Cap Rate 7%
$400,043
$400.0K
Cap Rate 9%
$311,144
$311.1K
Market Conditions
NOI Build-Up for 2,981 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
$53.7K $18.00/SF
− Vacancy
−$8.9K −$2.97/SF
EGI
$44.8K $15.03/SF
− OpEx
−$16.8K −$5.64/SF
NOI
$28.0K $9.39/SF
Area
Erie County, NY
Vacancy
16.50%
Lease Rate
$18.00 /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%
$560,060
Cap Rate 7%
$400,043
Cap Rate 9%
$311,144
Alternative Uses
Best Use
Mixed Use
$400.0K
$350.0K – $466.7K
NOI $28,003 @ 7.0% cap · market cap 8.89%
Second Best
Retail
$382.9K
$335.0K – $446.7K
NOI $26,803 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,616 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Home Improvements & Furnishings 11%
Dollar Tree
Shops & Services
15,250 visits/mo
0.1 miles
Bank of America
Shops & Services
5,757 visits/mo
0.4 miles
KeyBank
Shops & Services
4,651 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
3,772 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
3,709 visits/mo
0.5 miles
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two street-level commercial units and one residential apartment above, with current commercial occupancy and rental income.
Where is this mixed-use property located?
The property is located at 189 Buffalo Street Hamburg, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Built in 1940 mixed‑use property with two street‑level commercial units and one residential apartment above; First‑floor commercial spaces are occupied by a dog grooming business and a retail boutique; Upper residential apartment provides additional rental income
