Functional Auto Garage on
For Sale
$275,000
3260 Bailey Ave, Buffalo, NY 14215
Renovated 2-bay garage with ample parking and corner exposure.
Property Size1,050 SF
Lot Size0.19 Acres
Price / SF$261.90
Days on Market164
Property Features for 3260 Bailey Ave
General Information
Standard status
Active
Size
1,050 SF
Lot size
0.19 Acres
Property subtype
Retail
Zoning
Commercial
Listing Agency:
Recckio Real Estate & Development
(716) 998-4422
Listed By:
Rick Recckio · License #NY #31RE0821429
(716) 998-4422
Source:
Recckio
Added: Mar 5
Changed: Aug 16
Last Checked: Aug 16 at 5:17AM
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 Recckio Real Estate & Development
Investment Insights
Based on property information with market context.
This fully functional auto garage is located at the corner of Bailey Avenue and Dartmouth Avenue. The recently renovated, 2-bay garage space is suitable for businesses seeking high visibility. The building encompasses 1,050+/- square feet on a 0.19+/- acre lot. Situated at a traffic light intersection, the property benefits from a premium location and ample parking. The layout includes a small office and additional upstairs space. The property is centrally located on Bailey Avenue, at the corner of Bailey and Dartmouth, between the University at Buffalo South campus and the Kensington Expressway Route 33. An adjacent lot to the south of Dartmouth is also available for sale at an additional price.
Key Highlights
- Premium corner location at a traffic light intersection on Bailey & Dartmouth Avenue.
- Fully functional 2‑bay auto garage.
- Excellent exposure due to high‑traffic location.
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
$10,228
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
3.72%
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%
$204,560
$204.6K
Cap Rate 7%
$146,114
$146.1K
Cap Rate 9%
$113,644
$113.6K
Market Conditions
NOI Build-Up for 1,050 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
$16.4K $15.60/SF
− Vacancy
−$1.8K −$1.68/SF
EGI
$14.6K $13.92/SF
− OpEx
−$4.4K −$4.17/SF
NOI
$10.2K $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%
$204,560
Cap Rate 7%
$146,114
Cap Rate 9%
$113,644
Alternative Uses
Best Use
Retail
$146.1K
$127.9K – $170.5K
NOI $10,228 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$105.1K
$91.9K – $122.6K
NOI $7,355 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$252.5K
$220.9K – $294.6K
NOI $17,675 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14215, NY
42,447
Population
19,203
Households
2.2
Avg Household Size
33
Median Age
19%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,843
Density / Sq Mi
$43,326
Median Household Income
$29,204
Median Earnings
$993
Median Rent
$102,800
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Similar Off Market Nearby
- Automotive Battery & Tire — 3218 Bailey Ave, Buffalo, NY 14215
- Tom's Car & Truck Repair — 800 Kensington Ave, Buffalo, NY 14215
- Workman's AUTOMOTIVE — 309 Dartmouth Ave, Buffalo, NY 14215
- Buffalo Mobile Mechanic — 52 Andover Ave, Buffalo, NY 14215
- MMM Auto Service — 3218 Bailey Ave, Buffalo, NY 14215
Frequently Asked Questions
What type of property is this?
Auto shop - Renovated 2-bay garage with ample parking and corner exposure.
Where is this auto shop located?
The property is located at 3260 Bailey Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Premium corner location at a traffic light intersection on Bailey & Dartmouth Avenue.; Fully functional 2‑bay auto garage.; Excellent exposure due to high‑traffic location.
