Light Manufacturing
New
For Sale
$2,200,000
3208 Main, Buffalo, NY 14216
Mixed-use property combines food production, retail space, apartments, offices, and on-site parking.
Property Size19,000 SF
Price / SF$115.79
Days on Market2
Property Features for 3208 Main
General Information
Standard status
Active
Size
19,000 SF
Property subtype
Industrial - Manufacturing
Additional Details
Business Included
Yes
Building Details
Building Size
19,000 SF
Buildings
1
Units
1
Listing Agency:
HUNT Commercial
Listed By:
Alan Hastings · License #10311203496
(716) 481-3325
Source:
Commercialcafe
Added: Sep 21
Last Checked: Sep 22 at 1:18PM
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
Investment Insights
Based on property information with market context.
This 95-year-old property combines a light manufacturing operation with a wholesale food business and multiple commercial components. The 19,000-square-foot offering includes a small production facility, first-floor retail space, and second-floor apartments and offices, along with on-site parking. The building is described as being in excellent condition, and the sale includes four WNY retail outlets connected to the business.
The property is located at 3208 Main in Buffalo’s North Buffalo area, within the University of Buffalo district. The retiring owner will train the incoming operator, providing operational continuity for the established business. The existing configuration supports manufacturing, customer-facing retail, office use, and residential space within one property.
The property is located at 3208 Main in Buffalo’s North Buffalo area, within the University of Buffalo district. The retiring owner will train the incoming operator, providing operational continuity for the established business. The existing configuration supports manufacturing, customer-facing retail, office use, and residential space within one property.
Key Highlights
- 19,000‑square‑foot mixed‑use building with manufacturing, retail, apartments, and offices
- 95‑year‑old property with an established wholesale food business
- Four WNY retail outlets included with the business
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
$185,072
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
8.41%
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%
$3,701,440
$3.7M
Cap Rate 7%
$2,643,886
$2.6M
Cap Rate 9%
$2,056,356
$2.1M
Market Conditions
NOI Build-Up for 19,000 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
$296.4K $15.60/SF
− Vacancy
−$32.0K −$1.68/SF
EGI
$264.4K $13.92/SF
− OpEx
−$79.3K −$4.17/SF
NOI
$185.1K $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%
$3,701,440
Cap Rate 7%
$2,643,886
Cap Rate 9%
$2,056,356
Alternative Uses
Best Use
Mixed Use
$2.93M
$2.57M – $3.42M
NOI $205,200 @ 7.0% cap · market cap 9.33%
Second Best
Retail
$2.64M
$2.31M – $3.08M
NOI $185,072 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$4.57M
$4.00M – $5.33M
NOI $319,838 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Buffalo, NY
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Mixed-use property combines food production, retail space, apartments, offices, and on-site parking.
Where is this manufacturing property located?
The property is located at 3208 Main Buffalo, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 19,000‑square‑foot mixed‑use building with manufacturing, retail, apartments, and offices; 95‑year‑old property with an established wholesale food business; Four WNY retail outlets included with the business
