Two-Story Bar and Patio
228 Franklin St Buffalo, NY 14202
For Sale
Contact for pricing
Two-story bar/lounge building with full basement and a large outdoor patio, positioned across from a parking ramp.
Property Size7,000 SF
Price / SF$107.14
Days on Market77
Property Features for 228 Franklin St
General Information
Standard status
Active
Size
7,000 SF
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Buffalo
(585) 507-1500
Listed By:
Tyler A. Balentine · License #30SC0879149
(585) 507-1500
Source:
Moodyscre
Added: May 14
Changed: Jul 25
Last Checked: Jul 28 at 4:16PM
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 Cushman & Wakefield | Pyramid Brokerage - Buffalo
Investment Insights
Based on property information with market context.
Former bar/lounge available for sale or lease in Downtown Buffalo. The property is a two-story building with a full basement and existing bar/lounge infrastructure. A large outdoor patio is included, supporting a street-facing guest experience.
The building is located directly across from the Augspurger Parking Ramp. It provides convenient access to Route 33 and the I-190 Expressway, and sits near the Entertainment District, CBD, Canalside, and the Buffalo Niagara Medical Campus.
With its existing improvements and flexible layout across two floors plus the basement, the property may be suited for restaurant/bar operations, retail use, office use, or an upper-floor residential conversion, subject to applicable approvals.
The building is located directly across from the Augspurger Parking Ramp. It provides convenient access to Route 33 and the I-190 Expressway, and sits near the Entertainment District, CBD, Canalside, and the Buffalo Niagara Medical Campus.
With its existing improvements and flexible layout across two floors plus the basement, the property may be suited for restaurant/bar operations, retail use, office use, or an upper-floor residential conversion, subject to applicable approvals.
Key Highlights
- Former bar/loung​​e building available for sale or lease in Downtown Buffalo
- Two‑story building with full basement
- Existing bar/lounge infrastructure plus a large outdoor patio
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.2k | $15.60 |
| − Vacancy | −$11.8k | −$1.68 |
| EGI | $97.4k | $13.92 |
| − OpEx | −$29.2k | −$4.17 |
| NOI | $68.2k | $9.74 |
7,000 SF · lease $15.60/SF/yr · vacancy 10.80% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,262 @ 7.0% cap · market cap 10.70%
Second Best
Retail
$974.1K
$852.3K – $1.14M
NOI $68,184 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,835 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
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- The Pour House Sports Bar of Lackawanna — 2847 South Park Ave, Lackawanna, NY 14218
- Cagneys Too — 1254 Electric Ave, Lackawanna, NY 14218
- Ice House Pub — 715 Ridge Rd, Lackawanna, NY 14218
- Jokers Bar — 1783 Electric Ave, Lackawanna, NY 14218
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-story bar/lounge building with full basement and a large outdoor patio, positioned across from a parking ramp.
Where is this bar & pub located?
The property is located at 228 Franklin St Buffalo, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Former bar/loung​​e building available for sale or lease in Downtown Buffalo; Two‑story building with full basement; Existing bar/lounge infrastructure plus a large outdoor patio
