Brick Mixed-Use
New
For Sale
$399,900
3700 Seneca St, Buffalo, NY 14224
Brick construction combines office space with a renovated two-bedroom apartment and flexible commercial functionality.
Property Size3,397 SF
Price / SF$117.72
Days on Market2
Property Features for 3700 Seneca St
General Information
Standard status
Active
Size
3,397 SF
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Office Units
1
Additional Details
Floor
Lower Level
Utilities to Site
Yes
Amenities
in-unit laundry
detached garage
Building Details
Year Built
1964
Buildings
1
Building Size
3,397 SF
Construction
brick
Listing Agency:
Keller Williams Realty Lancaster
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Source:
Thejoshjamesteam
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 8 at 2:33PM
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 Keller Williams Realty Lancaster
Investment Insights
Based on property information with market context.
Located at 3700 Seneca St, this 3,397-square-foot mixed-use building contains office space, a two-bedroom apartment, and a full basement. The first-floor office area includes three designated offices, a waiting room, reception and support areas, a full bath, and a kitchenette. The second-floor residence has updated kitchen finishes, stainless appliances, luxury vinyl flooring, remodeled laundry and utility space, a renovated full bath, and carpeted living and dining areas.
Built in 1964, the brick property has a poured concrete foundation, upgraded electrical service, and a high-efficiency furnace serving the apartment. The architectural roof was replaced in 2018. The basement provides storage and mechanical space, while a detached two-car garage adds parking and storage capacity. The site includes 7+ designated parking spots with room for expansion.
Built in 1964, the brick property has a poured concrete foundation, upgraded electrical service, and a high-efficiency furnace serving the apartment. The architectural roof was replaced in 2018. The basement provides storage and mechanical space, while a detached two-car garage adds parking and storage capacity. The site includes 7+ designated parking spots with room for expansion.
Key Highlights
- 3,397‑square‑foot mixed‑use building at 3700 Seneca St
- First‑floor office layout with three designated office spaces, reception, waiting room, bath, and kitchenette
- Renovated two‑bedroom apartment with updated kitchen, laundry, bath, and living areas
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
$36,688
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
9.17%
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%
$733,760
$733.8K
Cap Rate 7%
$524,114
$524.1K
Cap Rate 9%
$407,644
$407.6K
Market Conditions
NOI Build-Up for 3,397 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
$65.2K $19.20/SF
− Vacancy
−$6.5K −$1.92/SF
EGI
$58.7K $17.28/SF
− OpEx
−$22.0K −$6.48/SF
NOI
$36.7K $10.80/SF
Area
Buffalo, NY
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$733,760
Cap Rate 7%
$524,114
Cap Rate 9%
$407,644
Alternative Uses
Best Use
Office B
$605.1K
$529.5K – $706.0K
NOI $42,359 @ 7.0% cap · market cap 10.59%
Second Best
Mixed Use
$524.1K
$458.6K – $611.5K
NOI $36,688 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$816.9K
$714.8K – $953.1K
NOI $57,184 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 14224, NY
40,736
Population
19,286
Households
2.1
Avg Household Size
46
Median Age
33%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
2,017
Density / Sq Mi
$76,250
Median Household Income
$49,824
Median Earnings
$1,077
Median Rent
$219,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction combines office space with a renovated two-bedroom apartment and flexible commercial functionality.
Where is this mixed-use property located?
The property is located at 3700 Seneca St Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,397‑square‑foot mixed‑use building at 3700 Seneca St; First‑floor office layout with three designated office spaces, reception, waiting room, bath, and kitchenette; Renovated two‑bedroom apartment with updated kitchen, laundry, bath, and living areas
