Building Details

Building Size 3,518 SF

Year Built 1900

Tenancy Multi

Listing Agency: HUNT Real Estate ERA

Listed By: Brian Hillery · License #10301221944 Show Phone

Source: Highfallssir

Added: Oct 23 Changed: Oct 25 Last Checked: Oct 25 at 2:41AM

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Investment Insights

Based on property information with market context.

This 1900-built mixed-use property combines two storefronts, operated by one tenant, with two residential units. The apartments have moderate updates, and all four units are occupied. Physical features include vinyl windows throughout, vinyl siding, architectural shingle roofing, and off-street parking.

The property is on Seneca Street in Buffalo’s South Buffalo area. Its configuration brings retail and residential space together in one building.

Key Highlights

• Two storefronts operated by one tenant, plus two residential units
• All four units are occupied
• Residential units have moderate updates

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,152

Cap Rate

9.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$643,040 $643.0K

Cap Rate 7%

$459,314 $459.3K

Cap Rate 9%

$357,244 $357.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,518 SF

Gross rent

$61.2K $17.40/SF

− Vacancy

−$2.8K −$0.78/SF

EGI

$58.5K $16.62/SF

− OpEx

−$26.3K −$7.48/SF

NOI

$32.2K $9.14/SF

Area

Buffalo, NY

Vacancy

4.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$643,040

Cap Rate 7%

$459,314

Cap Rate 9%

$357,244

Alternative Uses

Best Use

Mixed Use

$542.8K

$474.9K – $633.2K (±1% cap)

NOI $37,994 @ 7.0% cap · market cap 10.86%

Second Best

Retail

$489.5K

$428.4K – $571.1K (±1% cap)

NOI $34,268 @ 7.0% cap · market cap 9.79%

Theoretical Best

Office A

$846.0K

$740.3K – $987.0K (±1% cap)

NOI $59,221 @ 7.0% cap · market cap 16.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic Spa & Massage Center Parking Lot & Garage Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,003

Businesses Nearby

Explore this area Business Placement

Demographics for 14210, NY

15,480

Population

7,813

Households

2

Avg Household Size

36

Median Age

19%

College-Educated

85%

High-School Grad

3.1 sq mi

ZIP Area

4,994

Density / Sq Mi

$51,059

Median Household Income

$31,652

Median Earnings

$925

Median Rent

$124,300

Median Home Value

Market

Vacancy Rate% for Retail in Buffalo, NY

4.7% 2019

8.8% 2020

8.4% 2021

8.6% 2022

8.1% 2023

8.4% 2024

10.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two residential units sit above two occupied storefronts, with off-street parking serving the property.

Where is this mixed-use property located?

The property is located at 2079 Seneca Street Buffalo, NY.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: Two storefronts operated by one tenant, plus two residential units; All four units are occupied; Residential units have moderate updates