Brick Mixed-Use
For Sale
$399,900
3700 Seneca St, West Seneca, NY 14210
Office space and a renovated two-bedroom apartment support flexible occupancy.
Property Size3,397 SF
Price / SF$117.72
Days on Market70
Property Features for 3700 Seneca St
General Information
Standard status
Active
Size
3,397 SF
Taxes and HOA fees
Annual Taxes
$10,290
Listing Agency:
Keller Williams Realty Lancaster
(716) 949-5189
Listed By:
Ryan Daley · License #10301215815
(716) 949-5189
Source:
Exprealty
Added: Jun 11
Changed: Aug 15
Last Checked: Aug 19 at 1:53PM
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.
This 3,397 SF brick property combines professional office space with a renovated two-bedroom apartment at 3700 Seneca St in West Seneca. The office component includes three private rooms, a waiting area, reception and support space, a full bathroom, and a kitchenette. The apartment features updated kitchen finishes, stainless appliances, luxury vinyl flooring, a remodeled full bath, in-unit laundry, and a combined living and dining area.
A full basement provides additional storage and houses the building’s mechanical systems. Building improvements include an architectural roof installed in 2018, an upper-apartment high-efficiency furnace, upgraded electrical service, and a poured concrete foundation. The property also offers 7+ designated parking spots, potential for additional parking, and a detached two-car garage for parking or storage.
A full basement provides additional storage and houses the building’s mechanical systems. Building improvements include an architectural roof installed in 2018, an upper-apartment high-efficiency furnace, upgraded electrical service, and a poured concrete foundation. The property also offers 7+ designated parking spots, potential for additional parking, and a detached two-car garage for parking or storage.
Key Highlights
- 3,397 SF brick mixed‑use building with office and residential components
- Office layout includes three designated rooms, waiting area, reception, kitchenette, and full bath
- Renovated two‑bedroom apartment with updated kitchen, stainless appliances, laundry, and remodeled bath
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office space and a renovated two-bedroom apartment support flexible occupancy.
Where is this mixed-use property located?
The property is located at 3700 Seneca St West Seneca, 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 brick mixed‑use building with office and residential components; Office layout includes three designated rooms, waiting area, reception, kitchenette, and full bath; Renovated two‑bedroom apartment with updated kitchen, stainless appliances, laundry, and remodeled bath
