Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    228 Franklin Street Buffalo, NY 14202

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Charming vintage brick building in the heart of Downtown Buffalo.

    Type:Office
    Added:
    Nov 25, 2025
    Days on Market:
    126
    Last Refresh:
    Mar 29 at 11:42 pm

    Property Features for 228 Franklin Street

    General Information

    Standard status
    Active
    Property subtype
    Office

    We can help!

    Listing Contact
    Rick Recckio
    Rick Recckio

    Listing agent Rick Recckio License #NY #31RE0821429

    Listing office Recckio Real Estate & Development

    Listing date Nov 25, 2025

    Source Recckio

    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 Recckio Real Estate & Development

    Overview

    Downtown Buffalo Vintage Brick Building

    This charming old brick building, featuring a stone facade, is located in the heart of Downtown Buffalo. The first floor, formerly a bar, has a seating capacity of approximately 375, and includes a patio in the back. The property features updated HVAC and bathrooms. Equipment includes a walk-in cooler in the basement and two bars. The second floor is unfinished and has a separate entrance. The building was built in 1922. The property is situated in an excellent location between Chippewa Street and Huron Street, and is two blocks east of South Elmwood Avenue. Nearby landmarks include the Buffalo Chop House, The Tralf Music Hall, and Shea's Performing Arts Center. Many possible uses or conversions are possible.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Law Firm Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Buffalo's Mohawk Place — 47 E Mohawk St, Buffalo, NY 14203
    • The Club House at Seneca One - Golf Simulator & Event Space — East Clubhouse, 1 Seneca St, Buffalo, NY 14203
    • Barista Bar and cafe — 212 W Genesee St, Buffalo, NY 14202
    • Union Pub — 295 Main St, Buffalo, NY 14203
    • Garden Grille & Bar — 10 Lafayette Square, Buffalo, NY 14203

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8294
    Latitude
    42.8195

    Nearby Similar for Lease

    • Contact for pricing

      Office Space with Creek View

      Office space in the heart of Williamsville, NY.
      5629 Main Street, Buffalo, NY 14221
      View Details
    • Contact for pricing

      Main Street Commercial Space Available

      First floor commercial space on Main Street, Buffalo, NY.
      2290 Main Street, Buffalo, NY 14214
      View Details
    • $15/mo

      Elmwood Avenue Professional Office Space

      3,000 SF office space in high-traffic Kenmore/Elmwood corridor.
      2555 Elmwood Avenue, Buffalo, NY 14217
      View Details
    • Contact for pricing

      Seneca Street Retail/Office Space

      679 SF retail/office space in vibrant shopping district.
      2096 Seneca Street, Buffalo, NY 14210
      View Details
    • Contact for pricing

      Turn-Key Restaurant and Warehouse

      Restaurant, renovated apartment, and warehouse for rent in Buffalo.
      898 Genesee Street, Buffalo, NY 14211
      View Details
    • $1.00/mo

      Harlem Road Commercial Leasing Opportunity

      High-visibility office spaces available for lease on Harlem Road.
      3435 Harlem Road, Buffalo, NY 14225
      View Details
    • Contact for pricing

      West Seneca Commercial Office Space

      1,842.50 sq ft office space in prime West Seneca location.
      4085 Seneca Street, Buffalo, NY 14224
      View Details
    • $11/mo

      Renovated Commercial Space with Warehouse

      Adaptable retail, office, and warehouse space in high-visibility location.
      4336 Bailey Avenue, Buffalo, NY 14226
      View Details
    • Contact for pricing

      Renovated Commercial Space in Buffalo

      Versatile 1,220 sq ft space suitable for various business uses.
      18 Abbott Road, Buffalo, NY 14220
      View Details
    • Contact for pricing

      Hertel Avenue Storefront Ready Now

      Updated 400 SF storefront with excellent natural light.
      662 Hertel Avenue, Buffalo, NY 14207
      View Details
    • $249,900/mo

      Two-Story Office Building in Buffalo

      Two-story office building for sale or lease in West Seneca.
      3686 Seneca Street, Buffalo, NY 14224
      View Details
    • $14/mo

      West Seneca Office Space Available

      1900 sqft office space with 6-8 offices near Buffalo.
      51 N America Drive, Buffalo, NY 14224
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Charming vintage brick building in the heart of Downtown Buffalo.
    Where is this bar & pub located?
    The property is located at 228 Franklin Street Buffalo, NY.
    What are key features of this property?
    This property features: Excellent location in the heart of Downtown Buffalo, near landmarks and entertainment.; Large first‑floor space (375+/- capacity) suitable for various uses or conversion.; Updated HVAC and bathrooms.
    (716) 998-4422
    We can help!
    Listing Contact
    Rick Recckio
    Rick Recckio
    Real Estate License ID: NY #31RE0821429
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!