Historic Mixed-Use
For Sale
$799,900
461 Linwood Avenue, Buffalo, NY 14209
Three-level property combines a professional office with two leased residential units and preserved architectural detailing.
Property Size4,594 SF
Days on Market15
Property Features for 461 Linwood Avenue
General Information
Standard status
Active
Size
4,594 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$8,528
Building Details
Building Size
4,594 SF
Year Built
1900
Listing Agency:
WNY Metro Roberts Realty
(716) 861-7961
Listed By:
David N Perrelli · License #10301202536
(716) 861-7961
Source:
Highfallssir
Added: Aug 6
Changed: Aug 18
Last Checked: Aug 19 at 3:51PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
Built in 1900, this 5,272-square-foot mixed-use property spans three levels and combines commercial office space with two leased residential units. The first floor is configured for professional office use with reception, a conference room, private offices, two bathrooms, a kitchen area, and central air conditioning. Original woodwork, ornate hardware, and fireplaces remain part of the building’s character.
The second-floor residence includes two bedrooms, two full bathrooms, a family room, and a fireplace. The third-floor unit offers two bedrooms, an eat-in kitchen, and a rear porch; both apartments have independent laundry hookups and natural light. Building improvements include updated electrical systems, a backup generator, a roof replaced in 2015, and a partially finished basement for utilities and storage. Exterior features include a concrete driveway accommodating eight or more vehicles and a detached two-car garage. The property is located at 461 Linwood Avenue in Buffalo’s Historic Preservation District, near shops, dining, parks, and transit.
The second-floor residence includes two bedrooms, two full bathrooms, a family room, and a fireplace. The third-floor unit offers two bedrooms, an eat-in kitchen, and a rear porch; both apartments have independent laundry hookups and natural light. Building improvements include updated electrical systems, a backup generator, a roof replaced in 2015, and a partially finished basement for utilities and storage. Exterior features include a concrete driveway accommodating eight or more vehicles and a detached two-car garage. The property is located at 461 Linwood Avenue in Buffalo’s Historic Preservation District, near shops, dining, parks, and transit.
Key Highlights
- 5,272 SF mixed‑use building across three levels
- First‑floor professional office with reception, conference room, private offices, two bathrooms, kitchen area, and central air conditioning
- Two fully leased residential units with independent laundry hookups
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
$57,285
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
7.16%
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%
$1,145,700
$1.1M
Cap Rate 7%
$818,357
$818.4K
Cap Rate 9%
$636,500
$636.5K
Market Conditions
NOI Build-Up for 4,594 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
$93.7K $20.40/SF
− Vacancy
−$17.3K −$3.77/SF
EGI
$76.4K $16.63/SF
− OpEx
−$19.1K −$4.16/SF
NOI
$57.3K $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 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%
$1,145,700
Cap Rate 7%
$818,357
Cap Rate 9%
$636,500
Alternative Uses
Best Use
Office B
$818.4K
$716.1K – $954.8K
NOI $57,285 @ 7.0% cap · market cap 7.16%
Second Best
Mixed Use
$708.8K
$620.2K – $826.9K
NOI $49,615 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,334 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 14209, NY
8,251
Population
4,729
Households
1.7
Avg Household Size
39
Median Age
46%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
8,251
Density / Sq Mi
$49,359
Median Household Income
$33,329
Median Earnings
$1,025
Median Rent
$408,600
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level property combines a professional office with two leased residential units and preserved architectural detailing.
Where is this mixed-use property located?
The property is located at 461 Linwood Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 5,272 SF mixed‑use building across three levels; First‑floor professional office with reception, conference room, private offices, two bathrooms, kitchen area, and central air conditioning; Two fully leased residential units with independent laundry hookups
