Auto Shop with Paint
New
For Sale
$799,000
32 Skillen Street, Buffalo, NY 14207
An automotive service building includes shop, service, and storage areas, with equipment included in the sale.
Property Size5,196 SF
Price / SF$153.77
Days on Market6
Property Features for 32 Skillen Street
General Information
Standard status
Active
Size
5,196 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$5,252
Amenities
paint booth/sprayer
overhead bay doors
new flat roof
new heating system
Building Details
Building Size
5,196 SF
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Michael Cipolla · License #10401327929
(716) 628-5803
Source:
Highfallssir
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:25PM
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 HUNT Real Estate ERA
Investment Insights
Based on property information with market context.
This 5,196-square-foot auto shop has dedicated shop, service, and storage space, plus automotive equipment included with the sale. Recent building improvements include a professional paint booth and sprayer, a flat roof, garage doors, and a heating system. Four overhead bay doors provide vehicle access: two are approximately 11 feet high, and two are approximately 10.5 feet high.
The property is at 32 Skillen Street in Buffalo, with access to Buffalo, Tonawanda, and surrounding roadways.
The property is at 32 Skillen Street in Buffalo, with access to Buffalo, Tonawanda, and surrounding roadways.
Key Highlights
- 5,196‑square‑foot automotive facility
- Four overhead doors: two approximately 11' high and two approximately 10.5' high
- Professional paint booth and sprayer included
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
$50,612
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
6.33%
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%
$1,012,240
$1.0M
Cap Rate 7%
$723,029
$723.0K
Cap Rate 9%
$562,356
$562.4K
Market Conditions
NOI Build-Up for 5,196 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
$81.1K $15.60/SF
− Vacancy
−$8.8K −$1.68/SF
EGI
$72.3K $13.92/SF
− OpEx
−$21.7K −$4.17/SF
NOI
$50.6K $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%
$1,012,240
Cap Rate 7%
$723,029
Cap Rate 9%
$562,356
Alternative Uses
Best Use
Retail
$723.0K
$632.7K – $843.5K
NOI $50,612 @ 7.0% cap · market cap 6.33%
Second Best
Industrial
$519.9K
$454.9K – $606.6K
NOI $36,395 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,467 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
47k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 37%
Tim Hortons
Dining
17,002 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,554 visits/mo
0.3 miles
Family Dollar
Shops & Services
10,196 visits/mo
0.3 miles
Sunoco
Shops & Services
6,592 visits/mo
0.4 miles
U-Haul
Shops & Services
2,178 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - An automotive service building includes shop, service, and storage areas, with equipment included in the sale.
Where is this auto shop located?
The property is located at 32 Skillen Street Buffalo, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 5,196‑square‑foot automotive facility; Four overhead doors: two approximately 11' high and two approximately 10.5' high; Professional paint booth and sprayer included
