Mixed-Use Building with
For Sale
$1,300,000
2321-2331 Main Street, Buffalo, NY 14214
Six apartments, six retail fronts, and garage space occupy a renovated building along a heavily traveled commercial corridor.
Property Size11,567 SF
Days on Market240
Property Features for 2321-2331 Main Street
General Information
Standard status
Active
Size
11,567 SF
Property subtype
Street Retail
Occupancy
100%
Site & Location
Corner Location
Yes
Traffic Count
17,591 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
6
Building Details
Building Size
11,567 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Properties For Sale
at 2321-2331 Main Street Contact usAvailable Space
Size
1,283 SF
Lease Type
Modified Gross
Corner Endcap
Size
1,000 SF
Lease Type
Modified Gross
Listing Agency:
Donovan RES
Listed By:
Brian Donovan · License #10491202934
(716) 998-2943
Source:
Thebrokerlist
Added: Feb 18
Changed: Oct 4
Last Checked: Oct 16 at 5:44AM
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 Donovan RES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This turn-of-the-century mixed-use property combines six apartments, six storefronts, and garage space within one building. Residential units have received refreshed paint and flooring, while HVAC equipment is maintained and operational. The roof was re-silvered in 2022. The property also includes 1,000 SF and 1,200 SF commercial spaces with new drywall, paint, and a vanilla buildout; the source information presents these spaces separately from the building’s stated occupancy.
Located at 2321-2331 Main Street in Buffalo, the property fronts a major corridor carrying 17,591 ADT. Main Street connects Amherst and Williamsville with downtown Buffalo, and the site is accessible from NY-198. Medaille College and Canisius College are less than half a mile away, while Sisters of Charity Hospital and National Grid are each .25 miles from the property. Erie County Medical Center is 1 mile away. Nearby landmarks include the Buffalo Zoo, Delaware Park, and the Darwin Martin House Complex.
Located at 2321-2331 Main Street in Buffalo, the property fronts a major corridor carrying 17,591 ADT. Main Street connects Amherst and Williamsville with downtown Buffalo, and the site is accessible from NY-198. Medaille College and Canisius College are less than half a mile away, while Sisters of Charity Hospital and National Grid are each .25 miles from the property. Erie County Medical Center is 1 mile away. Nearby landmarks include the Buffalo Zoo, Delaware Park, and the Darwin Martin House Complex.
Key Highlights
- Six apartments, six storefronts, and garage space in a single mixed‑use building
- 1,000 SF and 1,200 SF commercial spaces with refreshed drywall, paint, and vanilla buildout
- 17,591 ADT along Main Street, a major Buffalo traffic corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,670
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,253,400
$2.3M
Cap Rate 7%
$1,609,571
$1.6M
Cap Rate 9%
$1,251,889
$1.3M
Market Conditions
NOI Build-Up for 11,567 SF
Gross rent
$180.4K $15.60/SF
− Vacancy
−$19.5K −$1.68/SF
EGI
$161.0K $13.92/SF
− OpEx
−$48.3K −$4.17/SF
NOI
$112.7K $9.74/SF
Area
Buffalo, NY
Vacancy
10.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,253,400
Cap Rate 7%
$1,609,571
Cap Rate 9%
$1,251,889
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,924 @ 7.0% cap · market cap 9.61%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,670 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,714 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
17,591 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six apartments, six retail fronts, and garage space occupy a renovated building along a heavily traveled commercial corridor.
Where is this mixed-use property located?
The property is located at 2321-2331 Main Street Buffalo, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six apartments, six storefronts, and garage space in a single mixed‑use building; 1,000 SF and 1,200 SF commercial spaces with refreshed drywall, paint, and vanilla buildout; 17,591 ADT along Main Street, a major Buffalo traffic corridor
