Rehabbed Retail and Restaurant Buildings

311-313 Grant St, Buffalo, NY

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For Sale

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Two buildings, one rehabbed, one ready for remodeling.

Type:RETAIL

Property size:

5,784 SF

Lot size:

0.30 Acres

Price / SF:

$146/SF

HighLights

313 Grant St: Large 4500 sq. ft. building gutted and ready for remodeling, offering significant customization potential.
311 Grant St: Completely rehabbed 1284 sq. ft. building with new HVAC, bathroom, roof, and flooring, ready for immediate occupancy.
Adjacent lot included, providing expansion possibilities.
Off‑street parking available.
313 Grant St: Previously used as an Italian Village Restaurant, offering potential for similar business ventures or redevelopment.
313 Grant St: Second floor previously used as an apartment, suggesting potential for residential conversion or mixed‑use development.

We can help!

Listing Contact

Alan T. Hastings

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For Sale

Contact for pricing

Two buildings, one rehabbed, one ready for remodeling.

Type:RETAIL

Property size:

5,784 SF

Lot size:

0.30 Acres

Price / SF:

$146/SF

Added:: May 24, 2024
Days on Market:: 748
Last Refresh:: May 20 at 9:38 pm

Property Features for 311-313 Grant St

General Information

Standard status: Active
Size: 5,784 SF
Lot size: 0.30 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Alan T. Hastings

Listing agent Alan T. Hastings License #10311203496

Listing office Hastings Cohn Real Estate

Listing date May 24, 2024

Source Moodyscre

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 Hastings Cohn Real Estate

HighLights

313 Grant St: Large 4500 sq. ft. building gutted and ready for remodeling, offering significant customization potential.
311 Grant St: Completely rehabbed 1284 sq. ft. building with new HVAC, bathroom, roof, and flooring, ready for immediate occupancy.
Adjacent lot included, providing expansion possibilities.
Off‑street parking available.
313 Grant St: Previously used as an Italian Village Restaurant, offering potential for similar business ventures or redevelopment.
313 Grant St: Second floor previously used as an apartment, suggesting potential for residential conversion or mixed‑use development.

Overview

The property includes two buildings: 311 Grant St, a 1284 square foot building that was last used as a pharmacy and 313 Grant St, a 4500 square foot building (2250 square feet per floor) that was last used as an Italian Village Restaurant. The 311 Grant St building has been completely rehabbed with a new HVAC system, bathroom, dropped ceiling with lights, carpeting and tile, roof, and paving. It also features off-street parking and an adjacent lot for expansion. The 313 Grant St building has been completely gutted down to the exterior walls and is ready for remodeling. The second floor of the 313 Grant St building was previously an apartment.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$97.2k	$16.80
− Vacancy	−$8.7k	−$1.51
EGI	$88.4k	$15.29
− OpEx	−$22.1k	−$3.82
NOI	$66.3k	$11.47

5,784 SF · lease $16.80/SF/yr · vacancy 9.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$947.4K

$829.0K – $1.11M (±1% cap)

NOI $66,319 @ 7.0% cap · market cap 7.80%

Second Best

Retail

$804.9K

$704.3K – $939.0K (±1% cap)

NOI $56,340 @ 7.0% cap · market cap 6.63%

Theoretical Best

Office A

$1.39M

$1.22M – $1.62M (±1% cap)

NOI $97,366 @ 7.0% cap · market cap 11.45%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Buffalo
County: Erie
State: New York
Longitude: -78.8898
Latitude: 42.9223

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For sale
Retail space
NY
Buffalo
311-313 Grant St

What type of property is this?

Retail space - Two buildings, one rehabbed, one ready for remodeling.

Where is this retail space located?

The property is located at 311-313 Grant St Buffalo, NY.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 313 Grant St: Large 4500 sq. ft. building gutted and ready for remodeling, offering significant customization potential.; 311 Grant St: **Completely rehabbed 1284 sq. ft. building with new HVAC, bathroom, roof, and flooring, ready for immediate occupancy.**; Adjacent lot included, providing expansion possibilities.

311-313 Grant St, Buffalo, NY

Two buildings, one rehabbed, one ready for remodeling.

Property Features for 311-313 Grant St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Flex Office/Warehouse with Drive-In Doors

Multi-Unit Office Building with Pylon Signage

Turnkey Restaurant Near University Campus

Five-Unit Mixed-Use Building

Freestanding Auto Repair Shop

Versatile Commercial Building in Buffalo

Two-Building Office Suite Property

Mixed-Use Restaurant and Warehouse

Harlem Road Commercial Opportunity

Harlem Road Commercial Opportunity

Four-Unit Property in Elmwood Village

Elmwood Village Four-Unit Multifamily Property

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