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    Mixed-Use Building with Manufacturing Facility Title is generated by Realmo AI

    3208 Main, Buffalo, NY 14216

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    Mixed-use building with established manufacturing business and retail outlets.

    Type:Industrial
    Property size:
    19,000 SF
    Price / SF:
    $131/SF
    Added:
    Jun 3, 2024
    Days on Market:
    735
    Last Refresh:
    May 12 at 8:49 pm

    Property Features for 3208 Main

    General Information

    Standard status
    Active
    Size
    19,000 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Alan Hastings

    Listing agent Alan Hastings License #NY 10311203496

    Listing office HUNT Commercial

    Listing date Jun 3, 2024

    Source Crexi

    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

    HighLights

    • Well‑established, 95‑year‑old light manufacturing and wholesale food business with 4 retail outlets.
    • Historic, income‑producing mixed‑use building (19,000 sq ft) with parking and small manufacturing facility included.
    • Retiring owner will train new operator.
    • Great regional name recognition.
    • Excellent upside potential to increase internet presence and national sales.
    • Prime location in the University of Buffalo district.

    Overview

    This is a mixed-use building with a light manufacturing and wholesale food business, established for 95 years, located in North Buffalo. The sale includes four Western New York retail outlets. The historic, income-producing building includes parking and a small manufacturing facility, totaling 19,000 square feet. The property features first-floor retail space and second-floor apartments and offices, all in excellent condition. The business specializes in boutique and specialized candy and lollipop manufacturing with retail in the Western New York market. There is potential to increase internet presence and national sales. The property is located in the University of Buffalo district. The manufacturing capacity can be increased with additional shifts and employees. A flagship classic restored soda fountain business and store potential can be easily increased with minimal effort.

    Local Financial Insights For Mixed Use

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $364.8k $19.20
    − Vacancy −$36.5k −$1.92
    EGI $328.3k $17.28
    − OpEx −$123.1k −$6.48
    NOI $205.2k $10.80
    19,000 SF · lease $19.20/SF/yr · vacancy 10.00% · expense 37.50%

    Alternative Uses

    Best Use
    Mixed Use
    $2.93M
    $2.57M – $3.42M (±1% cap)
    NOI $205,200 @ 7.0% cap · market cap 8.21%
    Second Best
    Retail
    $2.64M
    $2.31M – $3.08M (±1% cap)
    NOI $185,072 @ 7.0% cap · market cap 7.40%
    Theoretical Best
    Office A
    $4.57M
    $4.00M – $5.33M (±1% cap)
    NOI $319,838 @ 7.0% cap · market cap 12.79%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Parkside Candy Specialty Food Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8260363
    Latitude
    42.9517662

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    FAQs

    What type of property is this?
    Manufacturing property - Mixed-use building with established manufacturing business and retail outlets.
    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 $2,500,000.
    What are key features of this property?
    This property features: Well‑established, 95‑year‑old light manufacturing and wholesale food business with 4 retail outlets.; Historic, income‑producing mixed‑use building (19,000 sq ft) with parking and small manufacturing facility included.; Retiring owner will train new operator.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Alan Hastings
    Real Estate License ID: NY 10311203496
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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