South Buffalo Commercial Property
For Sale
Contact for pricing
346 Hopkins St, Buffalo, NY 14220
Versatile 1,300 SF commercial building in a high-traffic location.
Property Size1,316 SF
Lot Size0.33 Acres
Price / SF$189.97
Days on Market171
Property Features for 346 Hopkins St
General Information
Standard status
Active
Size
1,316 SF
Lot size
0.33 Acres
Property subtype
Industrial
Zoning
M2
Building Details
Buildings
1
Stories
1
Listing Agency:
The Giambra Team
Listed By:
Nicholas Giambra · License #10301221885
Source:
Crexi
Added: Mar 2
Changed: Aug 17
Last Checked: Aug 18 at 12:15PM
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 The Giambra Team
Investment Insights
Based on property information with market context.
Located at the corner of Hopkins and Tifft Street in South Buffalo, this commercial property offers a recognizable presence in the neighborhood. The 1,300 square-foot building is situated on approximately a third of an acre, providing street visibility along a well-traveled corridor. The interior features a functional layout that includes dedicated office space, storage, and a bathroom. Concrete flooring, floor drains, and two overhead drive-in doors support various hands-on activities. The roof is reported to be in good condition, and environmental reports indicate that existing tanks are sealed in place. The property provides multiple curb cuts and 15 parking spaces, offering accessibility for customers and employees. The layout is suitable for automotive or service-based businesses and can accommodate a range of uses. The Outer Harbor development in Buffalo is contributing to renewed interest in the Tifft corridor. The property is available now and ready for occupancy.
Key Highlights
- High‑visibility location at a signalized corner of Hopkins and Tifft Street.
- 15 parking spaces and multiple curb cuts for easy access.
- Flexible 1,300 sq ft layout suitable for various business types.
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
$9,546
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
3.82%
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%
$190,920
$190.9K
Cap Rate 7%
$136,371
$136.4K
Cap Rate 9%
$106,067
$106.1K
Market Conditions
NOI Build-Up for 1,316 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
$15.8K $12.00/SF
− Vacancy
−$1.1K −$0.84/SF
EGI
$14.7K $11.16/SF
− OpEx
−$5.1K −$3.91/SF
NOI
$9.5K $7.25/SF
Area
Buffalo, NY
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$190,920
Cap Rate 7%
$136,371
Cap Rate 9%
$106,067
Alternative Uses
Best Use
Flex RnD
$136.4K
$119.3K – $159.1K
NOI $9,546 @ 7.0% cap · market cap 3.82%
Second Best
Industrial
$131.7K
$115.2K – $153.6K
NOI $9,218 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$316.5K
$276.9K – $369.2K
NOI $22,153 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14220, NY
23,959
Population
11,286
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
6,305
Density / Sq Mi
$68,337
Median Household Income
$42,112
Median Earnings
$974
Median Rent
$180,200
Median Home Value
Market
Vacancy Rate% for Industrial in Buffalo, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tom Gang & Company Catering — Irish Center, 245 Abbott Rd, Buffalo, NY 14220
Frequently Asked Questions
What type of property is this?
Flex space - Versatile 1,300 SF commercial building in a high-traffic location.
Where is this flex space located?
The property is located at 346 Hopkins St Buffalo, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: High‑visibility location at a signalized corner of Hopkins and Tifft Street.; 15 parking spaces and multiple curb cuts for easy access.; Flexible 1,300 sq ft layout suitable for various business types.
