Mixed-Use Building with
For Sale
$449,900
Pending
2096 Seneca Street, Buffalo, NY 14210
CommercialSale, Buffalo, NY
Property Size4,515 SF
Lot Size0.09 Acres
Days on Market206
Property Features for 2096 Seneca Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
N-3C
Zoning description
Residential Multi Use
Rooms
Basement
Parking
25
Subdivision
Buffalo Crk Reservation
Lot features
Rectangular, Rectangular Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Standard status
Pending
APN
140200-123-810-0006-024-000
Size
4,515 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
5576
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
Building Details
Year built
1922
Floors in Building
2
Number of units
6
Flooring type
Linoleum, Carpet, Vinyl
Roof type
Asphalt
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Jennifer R Goetz · License #10301223110
(716) 316-6664
Added: Jan 27
Changed: Aug 20
Last Checked: Aug 21 at 2:06PM
MLS# B1659806
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.
Built in 1922, this 4,515-square-foot mixed-use property combines two storefronts with four one-bedroom apartments. The storefronts are currently vacant, while the apartments are updated and occupied by tenants. Interior improvements include granite countertops, cabinetry, molding, windows, and apartment finishes. Plumbing, HVAC, and electrical systems have been updated within the last 10 years, and all units have central air.
The property occupies 0.0884 acres at 2096 Seneca Street in Buffalo, New York. It has N-3C zoning, public water, public sewer, natural-gas forced-air heating, and an asphalt roof. Linoleum, carpet, and vinyl flooring are present, with basement space also included.
The property occupies 0.0884 acres at 2096 Seneca Street in Buffalo, New York. It has N-3C zoning, public water, public sewer, natural-gas forced-air heating, and an asphalt roof. Linoleum, carpet, and vinyl flooring are present, with basement space also included.
Key Highlights
- Four 1‑bedroom apartments with updated interiors and existing tenants
- Two vacant storefronts included in the mixed‑use property
- 4,515 square feet on 0.0884 acres
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
Retail
$628.3K
$549.7K – $733.0K
NOI $43,979 @ 7.0% cap · market cap 9.78%
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
Lease Details
4
Residential units
Multi-tenant
Tenancy
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 - Four updated apartments complement two storefronts in a mixed-use building.
Where is this mixed-use property located?
The property is located at 2096 Seneca Street 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: Four 1‑bedroom apartments with updated interiors and existing tenants; Two vacant storefronts included in the mixed‑use property; 4,515 square feet on 0.0884 acres
