Office Building with Drive-Up
For Sale
$1,149,900
3101 Bailey Avenue, Buffalo, NY 14215
Vacant commercial building with finished lower-level space, private offices, and N-3C zoning along Bailey Avenue.
Property Size8,396 SF
Lot Size0.31 Acres
Price / SF$136.96
Days on Market47
Property Features for 3101 Bailey Avenue
General Information
Standard status
Active
Size
8,396 SF
Total Parking Spaces
10
Lot size
0.31 Acres
Zoning
N-3C
Additional Details
Road Access
Yes
Amenities
glass-enclosed offices
walk-in vault
drive-up teller/ATM lanes
finished basement
pitched roof
newer HVAC system
gas boiler
Building Details
Buildings
1
Building Size
8,396 SF
Owner Occupied
No
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
MD Zahid Al Mamun · License #10401401589
(347) 357-4253
Source:
Nicholcityrealty
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 14 at 10:31PM
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 Keller Williams Realty WNY
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Investment Insights
Based on property information with market context.
This vacant office building offers 8,396 square feet on a 13,639-square-foot lot at 3101 Bailey Avenue. The former banking area has 14-foot ceilings, while eight glass-enclosed offices support a range of professional layouts. Additional features include an 8' x 10' walk-in vault, two drive-up teller or ATM lanes, 400-amp electrical service, a pitched roof, newer HVAC, and a gas boiler. The fully finished basement includes 9-foot ceilings and multiple restrooms for additional workspace or storage. The property is being sold AS-IS.
The building fronts Bailey Avenue in Buffalo’s east side commercial corridor near the University District. Parking includes 10 off-street spaces, with additional on-street parking available for customers and employees. N-3C zoning is identified in the property information, and the building’s existing configuration includes office, banking, and retail-oriented improvements.
The building fronts Bailey Avenue in Buffalo’s east side commercial corridor near the University District. Parking includes 10 off-street spaces, with additional on-street parking available for customers and employees. N-3C zoning is identified in the property information, and the building’s existing configuration includes office, banking, and retail-oriented improvements.
Key Highlights
- 8,396‑square‑foot vacant office building on a 13,639‑square‑foot lot
- Eight glass‑enclosed offices and a finished basement with 9‑foot ceilings
- 14‑foot ceilings in the former banking and retail area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,694
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,093,880
$2.1M
Cap Rate 7%
$1,495,629
$1.5M
Cap Rate 9%
$1,163,267
$1.2M
Market Conditions
NOI Build-Up for 8,396 SF
Gross rent
$171.3K $20.40/SF
− Vacancy
−$31.7K −$3.77/SF
EGI
$139.6K $16.63/SF
− OpEx
−$34.9K −$4.16/SF
NOI
$104.7K $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 Rate 5%
$2,093,880
Cap Rate 7%
$1,495,629
Cap Rate 9%
$1,163,267
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.74M
NOI $104,694 @ 7.0% cap · market cap 9.10%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,782 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,335 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Buffalo, NY
Frequently Asked Questions
What type of property is this?
Office building - Vacant commercial building with finished lower-level space, private offices, and N-3C zoning along Bailey Avenue.
Where is this office building located?
The property is located at 3101 Bailey Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: 8,396‑square‑foot vacant office building on a 13,639‑square‑foot lot; Eight glass‑enclosed offices and a finished basement with 9‑foot ceilings; 14‑foot ceilings in the former banking and retail area
