Adaptive-Reuse Office
For Sale
Contact for pricing
425 Michigan Avenue, Buffalo, NY 14203
Renovated office suites in a downtown Buffalo facility with modern building systems and on-site parking.
Property Size150,000 SF
Price / SF$0.00
Days on Market50
Property Features for 425 Michigan Avenue
General Information
Standard status
Active
Size
150,000 SF
Class
A
Total Parking Spaces
429
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2015
Buildings
1
Building Size
150,000 SF
Tenancy
Multi
Abandoned
No
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 854-5943
Listed By:
RonaldGunner Tronolone · License #30TR0558114
(716) 913-7107
Source:
Nicholcityrealty
Added: Aug 30
Changed: Oct 1
Last Checked: Oct 16 at 9:01AM
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 HUNT Commercial Real Estate Corp. of Buffalo New York
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Investment Insights
Based on property information with market context.
Compass East offers office units within a comprehensively renovated former hospital facility at 425 Michigan Avenue. The 2015 redevelopment replaced interior finishes and furnishings, removed outdated building systems, and added energy-efficient HVAC, windows, LED lighting, and a new roof. Available suites include 4,400 square feet, 4,588 square feet, 1,800 square feet, and 600 square feet. The 4,588-square-foot DDS suite includes substantially complete equipment and finishes for immediate office use.
The property is in Downtown Buffalo with direct access to the NYS Thruway I-190 and the NY 33 Kensington Expressway. On-site parking accommodates 429 cars. Existing anchor occupants include Spectrum Cable Business Class & News Operations and The McGuire Group’s Training Center.
The property is in Downtown Buffalo with direct access to the NYS Thruway I-190 and the NY 33 Kensington Expressway. On-site parking accommodates 429 cars. Existing anchor occupants include Spectrum Cable Business Class & News Operations and The McGuire Group’s Training Center.
Key Highlights
- Office suites available in 4,400, 4,588, 1,800, and 600 square feet
- 2015 adaptive reuse and comprehensive renovation of a former hospital facility
- 4,588‑square‑foot DDS suite includes nearly complete equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,003,587
Suggested Prices Based on Cap Rates
Cap Rate 5%
$40,071,740
$40.1M
Cap Rate 7%
$28,622,671
$28.6M
Cap Rate 9%
$22,262,078
$22.3M
Market Conditions
NOI Build-Up for 160,679 SF
Gross rent
$3.28M $20.40/SF
− Vacancy
−$606.4K −$3.77/SF
EGI
$2.67M $16.63/SF
− OpEx
−$667.9K −$4.16/SF
NOI
$2.00M $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$40,071,740
Cap Rate 7%
$28,622,671
Cap Rate 9%
$22,262,078
Alternative Uses
Best Use
Office B
$28.62M
$25.04M – $33.39M
NOI $2,003,587 @ 7.0% cap · market cap 11,131,038.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$38.64M
$33.81M – $45.08M
NOI $2,704,806 @ 7.0% cap · market cap 15,026,700.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,904
Businesses Nearby
Explore this area
Business Placement
Demographics for 14203, NY
2,006
Population
1,712
Households
1.2
Avg Household Size
33
Median Age
43%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
716
Density / Sq Mi
$48,529
Median Household Income
$44,259
Median Earnings
$1,167
Median Rent
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Buffalo, NY
Frequently Asked Questions
What type of property is this?
Office units - Renovated office suites in a downtown Buffalo facility with modern building systems and on-site parking.
Where is this office units located?
The property is located at 425 Michigan Avenue Buffalo, NY.
What are key features of this property?
This property features: Office suites available in 4,400, 4,588, 1,800, and 600 square feet; 2015 adaptive reuse and comprehensive renovation of a former hospital facility; 4,588‑square‑foot DDS suite includes nearly complete equipment
