Retro Diner
For Sale
Contact for pricing
3200 Lake Shore Rd, Buffalo, NY 14219
Fully restored retro diner with a dedicated breakfast and lunch operation and booth and counter seating.
Property Size1,760 SF
Price / SF$167.61
Days on Market456
Property Features for 3200 Lake Shore Rd
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
5
Property subtype
RETAIL
Additional Details
Business Included
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Hunt Commercial - Buffalo
(716) 481-3325
Listed By:
Alan Hastings · License #10311203496
(716) 481-3325
Source:
Moodyscre
Added: May 13, 2025
Changed: Jul 31
Last Checked: Aug 10 at 5:26AM
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 Commercial - Buffalo
Investment Insights
Based on property information with market context.
This fully restored, modern retro diner is set up for breakfast and lunch service with a practical dining layout and an extensively maintained back-of-house. The concept includes built-in breakfast and lunch clientele, 7 booths with mini jukeboxes, and counter stools. The kitchen is fully restored and described as spotless, with meticulously maintained equipment and mechanicals including electric, plumbing, furnace, air conditioning, and a cooking hood in excellent condition. Current operating hours are 7:30 am to 3:00 pm. A partial, usable basement and a 2-car garage provide storage and potential for expansion.
The diner is located on a high-traffic thoroughfare with 35,000 cars per day driving by. Parking includes 5 dedicated spaces, with additional parking available on the street and on a nearby side street. A retiring owner will train the buyer.
The diner is located on a high-traffic thoroughfare with 35,000 cars per day driving by. Parking includes 5 dedicated spaces, with additional parking available on the street and on a nearby side street. A retiring owner will train the buyer.
Key Highlights
- Fully restored modern retro diner built for breakfast and lunch hours 7:30 am to 3:00 pm
- Spotless, fully restored kitchen with meticulously maintained equipment
- Seating includes 7 booths with mini jukeboxes plus counter stools
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
$20,180
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
6.84%
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%
$403,600
$403.6K
Cap Rate 7%
$288,286
$288.3K
Cap Rate 9%
$224,222
$224.2K
Market Conditions
NOI Build-Up for 1,760 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
$29.6K $16.80/SF
− Vacancy
−$2.7K −$1.51/SF
EGI
$26.9K $15.29/SF
− OpEx
−$6.7K −$3.82/SF
NOI
$20.2K $11.47/SF
Area
Buffalo, NY
Vacancy
9.00%
Lease Rate
$16.80 /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%
$403,600
Cap Rate 7%
$288,286
Cap Rate 9%
$224,222
Alternative Uses
Best Use
Specialty Retail
$288.3K
$252.3K – $336.3K
NOI $20,180 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$423.2K
$370.3K – $493.8K
NOI $29,627 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Breakfast & diner - Fully restored retro diner with a dedicated breakfast and lunch operation and booth and counter seating.
Where is this breakfast & diner located?
The property is located at 3200 Lake Shore Rd Buffalo, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Fully restored modern retro diner built for breakfast and lunch hours 7:30 am to 3:00 pm; Spotless, fully restored kitchen with meticulously maintained equipment; Seating includes 7 booths with mini jukeboxes plus counter stools
