Mixed-Use Building with
For Sale
$399,900
3700 Seneca Street, Buffalo, NY 14224
CommercialSale, Buffalo, NY
Property Size3,397 SF
Lot Size0.49 Acres
Price / SF$117.72
Days on Market94
Property Features for 3700 Seneca Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1
Zoning description
Business
Rooms
Basement
Parking
7
Lot features
Rectangular, Rectangular Lot
Elementary school district
West Seneca
Middle school district
West Seneca
High school district
West Seneca
Directions
Union Road to Seneca Street (nearest cross street is Hilldale Avenue)
Subdivision
West Seneca-146800
Standard status
Active
APN
146800-143-070-0001-026-000
Size
3,397 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Annual Amount
10290
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Flooring type
Linoleum, Hardwood, Vinyl, Varies, Carpet
Building materials
Brick, Masonry, Concrete, WoodSiding
Roof type
Shingle, Asphalt
Listing Agency:
Keller Williams Realty Lancaster
(716) 324-2300
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Added: Jun 11
Changed: Sep 12
Last Checked: Sep 12 at 11:06PM
MLS# B1684151
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 3700 Seneca Street, this 3,397-square-foot mixed-use building combines professional office space with a renovated two-bedroom apartment. The lower level includes three designated offices, a waiting area, reception and support areas, a full bath, and a kitchenette. The residential level features an updated kitchen with stainless appliances, a combined living and dining room, in-unit laundry and utility room, renovated full bath, and closet storage.
The full basement provides additional storage and houses the building’s mechanical systems. Property improvements include a brick and masonry exterior, poured concrete foundation, upgraded electrical service, a high-efficiency furnace serving the apartment, and an architectural roof installed in 2018. Seven-plus designated parking spaces, expansion room, and a detached two-car garage add on-site parking and storage capacity. The property is zoned C-1 and sits on 0.49 acres.
The full basement provides additional storage and houses the building’s mechanical systems. Property improvements include a brick and masonry exterior, poured concrete foundation, upgraded electrical service, a high-efficiency furnace serving the apartment, and an architectural roof installed in 2018. Seven-plus designated parking spaces, expansion room, and a detached two-car garage add on-site parking and storage capacity. The property is zoned C-1 and sits on 0.49 acres.
Key Highlights
- 3,397 SF mixed‑use building at 3700 Seneca Street
- Lower level includes 3 offices, waiting room, reception area, full bath, and kitchenette
- Renovated 2‑bedroom apartment with updated kitchen and in‑unit laundry
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
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Current Use
Lease Details
1
Office units
1
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Buffalo, NY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property combines professional office space, a renovated apartment, basement storage, and dedicated parking.
Where is this mixed-use property located?
The property is located at 3700 Seneca Street 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 SF mixed‑use building at 3700 Seneca Street; Lower level includes 3 offices, waiting room, reception area, full bath, and kitchenette; Renovated 2‑bedroom apartment with updated kitchen and in‑unit laundry
