462 Niagara Falls Blvd, Tonawanda, NY 14223

Building Details

Building Size 3,000 SF More

Year Built 1979 More

Buildings 1 More

Stories 2 More

Listing Agency: Keller Williams Realty Buffalo Northtowns

Listed By: Brennan Macey · License #10401353748 Show Phone

Source: Elliman

Added: Sep 18 Changed: Oct 26 Last Checked: Nov 6 at 9:32AM

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Investment Insights

Based on property information with market context.

This two-story mixed-use property combines a first-floor commercial area with an upper-level office component. The ground floor was most recently occupied by a dog grooming business and is available for a new tenant or owner-user. Above, the second floor provides an open-concept layout that can accommodate private offices, shared workspace, or professional suites.

Located at 462 Niagara Falls Blvd in Tonawanda, the property sits along an established commercial corridor with visibility, accessibility, and exposure from Niagara Falls Boulevard. Built in 1979, the building offers separate floor areas that can support occupancy of one level while the other is leased, or use of the full property by a single business.

Key Highlights

• Two‑story mixed‑use commercial property
• First floor was most recently occupied by a dog grooming business
• Second floor features an open‑concept office layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,181

Cap Rate

7.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$563,620 $563.6K

Cap Rate 7%

$402,586 $402.6K

Cap Rate 9%

$313,122 $313.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$54.0K $18.00/SF

− Vacancy

−$8.9K −$2.97/SF

EGI

$45.1K $15.03/SF

− OpEx

−$16.9K −$5.64/SF

NOI

$28.2K $9.39/SF

Area

Erie County, NY

Vacancy

16.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$563,620

Cap Rate 7%

$402,586

Cap Rate 9%

$313,122

Alternative Uses

Best Use

Office B

$537.0K

$469.9K – $626.5K (±1% cap)

NOI $37,592 @ 7.0% cap · market cap 9.92%

Second Best

Mixed Use

$402.6K

$352.3K – $469.7K (±1% cap)

NOI $28,181 @ 7.0% cap · market cap 7.44%

Theoretical Best

Office A

$655.8K

$573.8K – $765.1K (±1% cap)

NOI $45,907 @ 7.0% cap · market cap 12.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Law Firm Garden Center Computer & Electronic Repair Home Appliance Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

568

Businesses Nearby

Explore this area Business Placement

Demographics for 14223, NY

22,658

Population

10,586

Households

2.1

Avg Household Size

41

Median Age

44%

College-Educated

97%

High-School Grad

3.5 sq mi

ZIP Area

6,474

Density / Sq Mi

$83,528

Median Household Income

$49,835

Median Earnings

$976

Median Rent

$202,200

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Erie County, NY

$85.97 Jul

$98.99 Aug

$104 Sep

$100 Oct

Properties on Market for Mixed-use properties in Erie County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible commercial building with customer-facing space below and open-concept office space above.

Where is this mixed-use property located?

The property is located at 462 Niagara Falls Blvd Tonawanda, NY.

What is the asking price?

The asking price for this property is $379,000.

What are key features of this property?

This property features: Two‑story mixed‑use commercial property; First floor was most recently occupied by a dog grooming business; Second floor features an open‑concept office layout