Seneca Street Mixed-Use
For Sale
Contact for pricing
Pending
2096 Seneca St, Buffalo, NY 14210
Mixed-use building with storefronts and updated apartments in vibrant district.
Property Size4,515 SF
Days on Market199
Property Features for 2096 Seneca St
General Information
Standard status
Pending
Size
4,515 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
n-3c
Occupancy
66%
Lease Type
Gross
Building Details
Year Built
1922
Year Renovated
2015
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Keller Williams Realty Buffalo
(716) 316-6664
Listed By:
Jennifer Goetz · License #10401286617
Source:
Crexi
Added: Feb 2
Changed: Aug 14
Last Checked: Aug 14 at 6:04AM
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 Keller Williams Realty Buffalo
Investment Insights
Based on property information with market context.
This mixed-use property presents an investment opportunity in the heart of Seneca's business and shopping district. The 4,515 square foot building features two vacant storefronts, each with an estimated rental potential of $1,500. Additionally, there are four one-bedroom apartments, all recently updated with modern finishes and currently occupied by tenants. Recent updates to the property include a new roof, windows, apartments, granite countertops, cabinet doors, and molding. The plumbing, HVAC, and electrical systems have been updated within the last 10 years. All units are equipped with central air. With both storefronts rented, the projected annual gross revenue is $57,900 with a projected cap rate of 7.5%.
Key Highlights
- Projected annual gross revenue of $57,900 with a 7.5% cap rate.
- Four recently updated 1‑bedroom apartments with great tenants.
- Two vacant storefronts, each rentable for an estimated $1,500.
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
$41,264
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
9.17%
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%
$825,280
$825.3K
Cap Rate 7%
$589,486
$589.5K
Cap Rate 9%
$458,489
$458.5K
Market Conditions
NOI Build-Up for 4,515 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
$78.6K $17.40/SF
− Vacancy
−$3.5K −$0.78/SF
EGI
$75.0K $16.62/SF
− OpEx
−$33.8K −$7.48/SF
NOI
$41.3K $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 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%
$825,280
Cap Rate 7%
$589,486
Cap Rate 9%
$458,489
Alternative Uses
Best Use
Mixed Use
$696.6K
$609.5K – $812.7K
NOI $48,762 @ 7.0% cap · market cap 10.84%
Second Best
Apartment 5plus
$589.5K
$515.8K – $687.7K
NOI $41,264 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$1.09M
$950.1K – $1.27M
NOI $76,004 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with storefronts and updated apartments in vibrant district.
Where is this mixed-use property located?
The property is located at 2096 Seneca St Buffalo, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Projected annual gross revenue of $57,900 with a 7.5% cap rate.; Four recently updated 1‑bedroom apartments with great tenants.; Two vacant storefronts, each rentable for an estimated $1,500.
