21-Room Bed & Breakfast
For Sale
$649,900
45 Richmond Avenue, Buffalo, NY 14222
Historic hospitality property with two kitchens and off-street parking.
Property Size7,844 SF
Price / SF$82.85
Days on Market51
Property Features for 45 Richmond Avenue
General Information
Standard status
Active
Size
7,844 SF
Property subtype
Business
Site & Location
Neighborhood
Elmwood Bryant
Taxes and HOA fees
Annual Taxes
$5,798
Building Details
Building Size
7,844 SF
Year Built
1875
Buildings
1
Listing Agency:
HUNT Real Estate ERA
Listed By:
Joshua McDougall · License #10401336009
(716) 427-4971
Source:
Highfallssir
Added: Sep 7
Changed: Oct 25
Last Checked: Oct 27 at 2:12AM
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 Real Estate ERA
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Investment Insights
Based on property information with market context.
Built in 1875, this 7,844-square-foot property at 45 Richmond Avenue in Buffalo, NY is configured as a former bed and breakfast. The building includes 21 rooms, two kitchens, off-street parking, and additional space for a garage.
The spacious layout supports continued hospitality use, including a bed and breakfast or boarding house, with the source information also identifying potential for residential conversion. Its existing room count and kitchen infrastructure provide a defined foundation for evaluating future use options.
The spacious layout supports continued hospitality use, including a bed and breakfast or boarding house, with the source information also identifying potential for residential conversion. Its existing room count and kitchen infrastructure provide a defined foundation for evaluating future use options.
Key Highlights
- 7,844‑square‑foot former bed and breakfast
- 21 rooms within the building
- Two kitchens included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,018
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,360
$1.2M
Cap Rate 7%
$843,114
$843.1K
Cap Rate 9%
$655,756
$655.8K
Market Conditions
NOI Build-Up for 7,844 SF
Gross rent
$141.2K $18.00/SF
− Vacancy
−$16.9K −$2.16/SF
EGI
$124.2K $15.84/SF
− OpEx
−$65.2K −$8.32/SF
NOI
$59.0K $7.52/SF
Area
Buffalo, NY
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,360
Cap Rate 7%
$843,114
Cap Rate 9%
$655,756
Alternative Uses
Best Use
Hotel Hospitality
$843.1K
$737.7K – $983.6K
NOI $59,018 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,043 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,674
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14222, NY
13,629
Population
7,355
Households
1.9
Avg Household Size
32
Median Age
63%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
11,358
Density / Sq Mi
$83,692
Median Household Income
$50,045
Median Earnings
$1,168
Median Rent
$408,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Historic hospitality property with two kitchens and off-street parking.
Where is this bed & breakfast located?
The property is located at 45 Richmond Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 7,844‑square‑foot former bed and breakfast; 21 rooms within the building; Two kitchens included
