Auto Shop With Drive-In
For Sale
$250,000
346 Hopkins St, Buffalo, NY 14220
Signalized-corner property with office, storage, floor drains, and direct drive-in access.
Property Size1,316 SF
Lot Size0.33 Acres
Price / SF$189.97
Days on Market36
Property Features for 346 Hopkins St
General Information
Standard status
Active
Size
1,316 SF
Total Parking Spaces
15
Lot size
0.33 Acres
Additional Details
Road Access
Yes
Amenities
office
storage
bathroom
concrete flooring
floor drains
overhead drive-in doors
curb cuts
Building Details
Year Built
1962
Buildings
1
Abandoned
No
Listing Agency:
Giambra Realty Corp
(716) 860-5172
Listed By:
Michelle Giambra
Source:
Skinnercnyrealty
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 25 at 5:28AM
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 Giambra Realty Corp
Investment Insights
Based on property information with market context.
346 Hopkins Street is an auto shop property positioned at the signalized intersection of Hopkins and Tifft Street in South Buffalo. The building includes separate office, storage, and bathroom areas, along with concrete floors, floor drains, and two overhead drive-in doors. The roof is reported in good condition, while environmental reports were clean and existing tanks remain sealed in place.
The site occupies roughly one-third of an acre and includes multiple curb cuts plus 15 parking spaces. Its corner placement provides access from more than one direction, and the property is available for occupancy. The configuration is suited to automotive operations and may also support other service-oriented uses, subject to applicable requirements.
The site occupies roughly one-third of an acre and includes multiple curb cuts plus 15 parking spaces. Its corner placement provides access from more than one direction, and the property is available for occupancy. The configuration is suited to automotive operations and may also support other service-oriented uses, subject to applicable requirements.
Key Highlights
- Signalized corner at Hopkins and Tifft Street in South Buffalo
- Roughly one‑third‑acre site with 15 parking spaces
- Two overhead drive‑in doors, concrete floors, and floor drains
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
$12,819
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
5.13%
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%
$256,380
$256.4K
Cap Rate 7%
$183,129
$183.1K
Cap Rate 9%
$142,433
$142.4K
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
$20.5K $15.60/SF
− Vacancy
−$2.2K −$1.68/SF
EGI
$18.3K $13.92/SF
− OpEx
−$5.5K −$4.17/SF
NOI
$12.8K $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%
$256,380
Cap Rate 7%
$183,129
Cap Rate 9%
$142,433
Alternative Uses
Best Use
Retail
$183.1K
$160.2K – $213.7K
NOI $12,819 @ 7.0% cap · market cap 5.13%
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Well-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 Retail in Buffalo, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Signalized-corner property with office, storage, floor drains, and direct drive-in access.
Where is this auto shop 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: Signalized corner at Hopkins and Tifft Street in South Buffalo; Roughly one‑third‑acre site with 15 parking spaces; Two overhead drive‑in doors, concrete floors, and floor drains
