Prime Commercial Properties with
For Sale
Contact for pricing
3720 South Park Ave, Buffalo, NY 14219
Two commercial properties with high visibility and income potential.
Property Size9,728 SF
Price / SF$107.94
Days on Market654
Property Features for 3720 South Park Ave
General Information
Standard status
Active
Size
9,728 SF
Class
B
Property subtype
Office, Retail
Occupancy
90%
Lease Type
Gross
Building Details
Units
6
Tenancy
Multi
Listing Agency:
Realty ONE Group EMPOWER
(716) 553-9963
Listed By:
Robert Karp · License #NY 10301218689
Source:
Crexi
Added: Nov 4, 2024
Changed: Aug 14
Last Checked: Aug 19 at 9:03PM
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 Realty ONE Group EMPOWER
Investment Insights
Based on property information with market context.
This sale includes two commercial properties situated in a prime location with high visibility and income potential. The properties are located at a bustling corner in Blasdell/Hamburg, New York, with approximately 27,000 cars passing by daily. One of the properties, located at 3720 South Park Ave, features 5 commercial units, with 4 currently leased. One vacant unit was previously rented for $1,200 per month and offers potential for higher rent or owner occupancy. The adjacent property, located at 4220 Lake Ave, is a single-tenant building that is currently leased. The combined properties offer 24 parking spaces and include a digital billboard. The properties are professionally maintained with recent updates. The total property size is 9,728 square feet. This investment offers plenty of upside.
Key Highlights
- Prime location with high visibility on a bustling corner (27,000 cars pass by daily).
- Excellent income potential from two commercial properties.
- Includes 5 commercial units (4 currently leased) at 3720 South Park Ave.
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
$94,757
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
9.02%
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%
$1,895,140
$1.9M
Cap Rate 7%
$1,353,671
$1.4M
Cap Rate 9%
$1,052,856
$1.1M
Market Conditions
NOI Build-Up for 9,728 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
$151.8K $15.60/SF
− Vacancy
−$16.4K −$1.68/SF
EGI
$135.4K $13.92/SF
− OpEx
−$40.6K −$4.17/SF
NOI
$94.8K $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%
$1,895,140
Cap Rate 7%
$1,353,671
Cap Rate 9%
$1,052,856
Alternative Uses
Best Use
Mixed Use
$1.50M
$1.31M – $1.75M
NOI $105,062 @ 7.0% cap · market cap 10.01%
Second Best
Retail
$1.35M
$1.18M – $1.58M
NOI $94,757 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,757 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
680
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Extra Space Storage
Shops & Services
680 visits/mo
0.5 miles
Demographics for 14219, NY
11,593
Population
5,612
Households
2.1
Avg Household Size
42
Median Age
21%
College-Educated
94%
High-School Grad
6.9 sq mi
ZIP Area
1,680
Density / Sq Mi
$75,465
Median Household Income
$45,957
Median Earnings
$928
Median Rent
$181,800
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial properties with high visibility and income potential.
Where is this mixed-use property located?
The property is located at 3720 South Park Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Prime location with high visibility on a bustling corner (27,000 cars pass by daily).; Excellent income potential from two commercial properties.; Includes 5 commercial units (4 currently leased) at 3720 South Park Ave.
