Two-Story Office
New
For Sale
Contact for pricing
3437 Bailey Avenue, Buffalo, NY 14215
Vacant commercial space with on-site parking and forced-air HVAC.
Property Size2,240 SF
Lot Size0.09 Acres
Price / SF$147.28
Days on Market5
Property Features for 3437 Bailey Avenue
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
7
Lot size
0.09 Acres
Property subtype
Office
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$329,900
Building Details
Buildings
1
Stories
2
Building Size
2,240 SF
Owner Occupied
No
Listing Agency:
Hunt Real Estate ERA
Listed By:
Naz Hussain · License #NY
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 24 at 2:58PM
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 vacant two-story office property in Buffalo contains approximately 2,240 SF and has approximately 7 on-site parking spaces. The building is served by public water and sewer and uses gas-fired forced-air HVAC.
The proposed rear parcel is estimated at approximately 3,729 SF and remains subject to final survey and separation. Primary access is expected from Highgate Avenue, with possible additional access to Bailey Avenue through a shared-access or easement arrangement.
The proposed rear parcel is estimated at approximately 3,729 SF and remains subject to final survey and separation. Primary access is expected from Highgate Avenue, with possible additional access to Bailey Avenue through a shared-access or easement arrangement.
Key Highlights
- Approximately 2,240 SF of office building area
- Vacant two‑story configuration
- Approximately 7 on‑site parking spaces
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
$27,932
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
8.47%
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%
$558,640
$558.6K
Cap Rate 7%
$399,029
$399.0K
Cap Rate 9%
$310,356
$310.4K
Market Conditions
NOI Build-Up for 2,240 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
$45.7K $20.40/SF
− Vacancy
−$8.5K −$3.77/SF
EGI
$37.2K $16.63/SF
− OpEx
−$9.3K −$4.16/SF
NOI
$27.9K $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /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%
$558,640
Cap Rate 7%
$399,029
Cap Rate 9%
$310,356
Alternative Uses
Best Use
Office B
$399.0K
$349.2K – $465.5K
NOI $27,932 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$538.7K
$471.3K – $628.5K
NOI $37,707 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
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 Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant commercial space with on-site parking and forced-air HVAC.
Where is this office building located?
The property is located at 3437 Bailey Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Approximately 2,240 SF of office building area; Vacant two‑story configuration; Approximately 7 on‑site parking spaces
