Mixed-Use River Road
For Sale
Contact for pricing
2809 River Road, Buffalo, NY 14207
Mixed-use property with a storefront, office, and oversized service bays plus an attached 3-bedroom residence.
Property Size5,520 SF
Price / SF$172.10
Days on Market67
Property Features for 2809 River Road
General Information
Standard status
Active
Size
5,520 SF
Property subtype
Retail, Mixed Use
Zoning
C
Additional Details
Highway Access
Yes
Service Bays
2
Building Details
Year Built
1988
Buildings
3
Listing Agency:
716 Realty Group
Listed By:
Gregory Straus · License #NY 10491211091
(716) 266-6691
Source:
Crexi
Added: Jul 3
Changed: Sep 4
Last Checked: Sep 5 at 12:53AM
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 716 Realty Group
Investment Insights
Based on property information with market context.
This mixed-use offering includes three buildings total, combining commercial space with an attached residential home. The commercial building features a storefront, dedicated office space, and two oversized service bays, supported by ample paved off-street parking. Connected to the commercial space is a high-end 3-bedroom, 2.5-bath residence with a loft, highlighted by a kitchen with granite countertops, a center island, stainless steel appliances, and a built-in wine refrigerator. Interior features include a spiral staircase and skylights that bring natural light to the upper level, along with a second-floor covered porch.
Additional improvements include a first-floor heated shop sized to fit four or more cars, a rear detached 2.5-car garage, and a separate freestanding 2-bay garage with an office. The property sits on a prominent corner lot with outstanding visibility along River Road, with close proximity to both on- and off-highway access. Sale includes both addresses, 2809 River Road and 2813 River Road, with square footage, acreage, and taxes combined for the two properties.
Additional improvements include a first-floor heated shop sized to fit four or more cars, a rear detached 2.5-car garage, and a separate freestanding 2-bay garage with an office. The property sits on a prominent corner lot with outstanding visibility along River Road, with close proximity to both on- and off-highway access. Sale includes both addresses, 2809 River Road and 2813 River Road, with square footage, acreage, and taxes combined for the two properties.
Key Highlights
- 1988 mixed‑use property with 3 buildings on River Road, on a prominent corner lot with on/off highway access nearby.
- Sale includes both addresses: 2809 and 2813; square footage, acreage, and taxes are combined for both properties.
- Commercial building offers a storefront, dedicated office space, and 2 oversized service bays for a range of business uses.
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
$68,832
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
7.25%
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%
$1,376,640
$1.4M
Cap Rate 7%
$983,314
$983.3K
Cap Rate 9%
$764,800
$764.8K
Market Conditions
NOI Build-Up for 5,520 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
$112.6K $20.40/SF
− Vacancy
−$20.8K −$3.77/SF
EGI
$91.8K $16.63/SF
− OpEx
−$22.9K −$4.16/SF
NOI
$68.8K $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,376,640
Cap Rate 7%
$983,314
Cap Rate 9%
$764,800
Alternative Uses
Best Use
Office B
$983.3K
$860.4K – $1.15M
NOI $68,832 @ 7.0% cap · market cap 7.25%
Second Best
Mixed Use
$851.7K
$745.2K – $993.6K
NOI $59,616 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,921 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 14207, NY
26,006
Population
11,317
Households
2.3
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
3.9 sq mi
ZIP Area
6,668
Density / Sq Mi
$38,951
Median Household Income
$33,851
Median Earnings
$943
Median Rent
$111,200
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use property with a storefront, office, and oversized service bays plus an attached 3-bedroom residence.
Where is this live-work space located?
The property is located at 2809 River Road Buffalo, NY.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: 1988 mixed‑use property with 3 buildings on River Road, on a prominent corner lot with on/off highway access nearby.; Sale includes both addresses: 2809 and 2813; square footage, acreage, and taxes are combined for both properties.; Commercial building offers a storefront, dedicated office space, and 2 oversized service bays for a range of business uses.
