Listing Agency: eXp Realty Show Phone

Listed By: James Wangelin · License #10301224073 Show Phone

Source: Nicholcityrealty

Added: Jul 25 Changed: Oct 10 Last Checked: Oct 14 at 10:54PM

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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 eXp Realty

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Investment Insights

Based on property information with market context.

This 1,346-square-foot flex space occupies a storefront location at 212 Grant Street, with a corner position at Grant Street and Lafayette Avenue. The interior provides an open configuration with high ceilings and a basement for additional storage of inventory or equipment.

The layout can accommodate retail, office, creative studio, or light manufacturing uses. Its location at a heavily traveled intersection includes surrounding neighborhood businesses and pedestrian activity, with access from both Grant Street and Lafayette Avenue.

Key Highlights

• 1,346 sq ft of open commercial space
• Corner location at Grant Street and Lafayette Avenue
• High ceilings and adaptable interior layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,428

Suggested Prices Based on Cap Rates

Cap Rate 5%

$188,560 $188.6K

Cap Rate 7%

$134,686 $134.7K

Cap Rate 9%

$104,756 $104.8K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,346 SF

Gross rent

$13.7K $10.20/SF

− Vacancy

−$261 −$0.19/SF

EGI

$13.5K $10.01/SF

− OpEx

−$4.0K −$3.00/SF

NOI

$9.4K $7.00/SF

Area

Buffalo, NY

Vacancy

1.90%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$188,560

Cap Rate 7%

$134,686

Cap Rate 9%

$104,756

Alternative Uses

Best Use

Retail

$187.3K

$163.9K – $218.5K (±1% cap)

NOI $13,111 @ 7.0% cap · market cap 1,092.58%

Second Best

Flex RnD

$139.5K

$122.1K – $162.7K (±1% cap)

NOI $9,764 @ 7.0% cap · market cap 813.67%

Theoretical Best

Office A

$323.7K

$283.2K – $377.6K (±1% cap)

NOI $22,658 @ 7.0% cap · market cap 1,888.17%

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

Property Analytics

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Open Analytics

Current Use

Off The Beaten Path ... Tattoo & Piercing Shop The Blue House Collective Clothing & Fashion Store Plantae Market Grocery & Convenience Store

Suggested Use

Top Pick Dental Office HVAC Service Law Firm Accounting Firm Electrical Service Auto Parts Store

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

Location Intelligence

Trade Area within ½ mile

1,061

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 14213, NY

25,834

Population

11,397

Households

2.3

Avg Household Size

30

Median Age

36%

College-Educated

81%

High-School Grad

1.9 sq mi

ZIP Area

13,597

Density / Sq Mi

$52,597

Median Household Income

$36,084

Median Earnings

$1,059

Median Rent

$192,300

Median Home Value

Market

Vacancy Rate% for Industrial in Buffalo, NY

10.6% 2019

10.4% 2020

6.3% 2021

4.9% 2022

5.4% 2023

6.3% 2024

6.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Open commercial layout with high ceilings and basement storage.

Where is this flex space located?

The property is located at 212 Grant Street Buffalo, NY.

What are key features of this property?

This property features: 1,346 sq ft of open commercial space; Corner location at Grant Street and Lafayette Avenue; High ceilings and adaptable interior layout