Licensed Auto Repair
For Sale
$399,900
2617 Elmwood Avenue, Buffalo, NY 14217
CommercialSale, Buffalo, NY
Property Size1,232 SF
Lot Size0.29 Acres
Price / SF$324.59
Days on Market219
Property Features for 2617 Elmwood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
4
Zoning description
Commercial
Parking
25
Lot features
Rectangular, Rectangular Lot
Elementary school district
Kenmore-Tonawanda Union Free District
Middle school district
Kenmore-Tonawanda Union Free District
High school district
Kenmore-Tonawanda Union Free District
Subdivision
Kenmore-Village-146401
Standard status
Active
APN
146401-066-690-0002-027-000
Size
1,232 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
14183
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1972
Floors in Building
1
Flooring type
Vinyl, Linoleum
Roof type
Flat
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Walaa Kadhum · License #10401363055
(716) 495-5961
Added: Jan 15
Changed: Aug 20
Last Checked: Aug 22 at 1:06AM
MLS# B1657443
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.
This 1,232-square-foot automotive property includes an operating auto repair and vehicle sales business. The sale includes tools, equipment, machinery, licenses, dealer plates, NYS auto repair licensing, dealer licensing, and NYS inspection station approval. The building was constructed in 1972 and features a flat roof, vinyl and linoleum flooring, space heating, natural gas, heat pump heating, heat pump cooling, and public sewer service. The site encompasses 0.2913 acres and provides approximately 24 parking spaces.
Located at 2617 Elmwood Avenue in Buffalo, the property has frontage on Elmwood Avenue and is identified with zoning 4. Its existing approvals and automotive improvements support repair, inspection, and vehicle sales operations.
Located at 2617 Elmwood Avenue in Buffalo, the property has frontage on Elmwood Avenue and is identified with zoning 4. Its existing approvals and automotive improvements support repair, inspection, and vehicle sales operations.
Key Highlights
- 1,232‑square‑foot automotive property on a 0.2913‑acre site
- Approximately 24 parking spaces for customers, inventory, and service vehicles
- Includes NYS auto repair license, dealer license, dealer plates, and inspection station approval
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
$12,000
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
3.00%
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%
$240,000
$240.0K
Cap Rate 7%
$171,429
$171.4K
Cap Rate 9%
$133,333
$133.3K
Market Conditions
NOI Build-Up for 1,232 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
$19.2K $15.60/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$17.1K $13.92/SF
− OpEx
−$5.1K −$4.17/SF
NOI
$12.0K $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 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%
$240,000
Cap Rate 7%
$171,429
Cap Rate 9%
$133,333
Alternative Uses
Best Use
Retail
$171.4K
$150.0K – $200.0K
NOI $12,000 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$123.3K
$107.9K – $143.8K
NOI $8,629 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$296.3K
$259.2K – $345.7K
NOI $20,739 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
5,696 visits/mo
0.4 miles
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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- Unstoppable Auto LLC — 35 Skillen St, Buffalo, NY 14207
Frequently Asked Questions
What type of property is this?
Auto shop - Operating automotive property with repair equipment, inspection approval, dealer licensing, and on-site parking.
Where is this auto shop located?
The property is located at 2617 Elmwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,232‑square‑foot automotive property on a 0.2913‑acre site; Approximately 24 parking spaces for customers, inventory, and service vehicles; Includes NYS auto repair license, dealer license, dealer plates, and inspection station approval
