Storefront Property with Flexible
For Sale
$89,999
624 Ridge Road, Buffalo, NY 14218
Open commercial space with display frontage, private restroom, storage areas, and CBD, Business zoning.
Property Size576 SF
Price / SF$156.25
Days on Market32
Property Features for 624 Ridge Road
General Information
Standard status
Active
Size
576 SF
Property subtype
Commercial
Zoning
CBD, Business
Taxes and HOA fees
Annual Taxes
$1,237
Amenities
updated flooring
exposed brick accent wall
large front display window
private restroom
rear utility/storage area
additional room
Building Details
Building Size
576 SF
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
716 Realty Group WNY LLC
(716) 864-1055
Listed By:
Gregory Straus · License #10491211091
(716) 864-1055
Source:
Wcirealty
Added: Jul 20
Changed: Aug 13
Last Checked: Aug 19 at 2:03PM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
This approximately 576-square-foot storefront property features an open interior configuration suited to a range of permitted commercial uses. Interior improvements include updated flooring, an exposed brick accent wall, and a large front display window. The layout also provides a private restroom, rear utility and storage area, and a separate room that can support storage, office functions, or other operational needs.
Built in 1950, the property is located at 624 Ridge Road in Buffalo, New York, within the Lackawanna business district. The site is near major roadways and established businesses, providing a practical setting for an owner-user or investor. CBD, Business zoning supports the property's commercial positioning.
Built in 1950, the property is located at 624 Ridge Road in Buffalo, New York, within the Lackawanna business district. The site is near major roadways and established businesses, providing a practical setting for an owner-user or investor. CBD, Business zoning supports the property's commercial positioning.
Key Highlights
- Approximately 576 square feet with an open‑concept floor plan
- Large front display window and storefront configuration
- Updated flooring and exposed brick accent wall
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
$5,611
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
6.23%
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%
$112,220
$112.2K
Cap Rate 7%
$80,157
$80.2K
Cap Rate 9%
$62,344
$62.3K
Market Conditions
NOI Build-Up for 576 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
$9.0K $15.60/SF
− Vacancy
−$970 −$1.68/SF
EGI
$8.0K $13.92/SF
− OpEx
−$2.4K −$4.17/SF
NOI
$5.6K $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%
$112,220
Cap Rate 7%
$80,157
Cap Rate 9%
$62,344
Alternative Uses
Best Use
Retail
$80.2K
$70.1K – $93.5K
NOI $5,611 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$138.5K
$121.2K – $161.6K
NOI $9,696 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14218, NY
20,878
Population
9,478
Households
2.2
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
2,578
Density / Sq Mi
$50,484
Median Household Income
$36,457
Median Earnings
$829
Median Rent
$135,000
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Open commercial space with display frontage, private restroom, storage areas, and CBD, Business zoning.
Where is this storefront property located?
The property is located at 624 Ridge Road Buffalo, NY.
What is the asking price?
The asking price for this property is $89,999.
What are key features of this property?
This property features: Approximately 576 square feet with an open‑concept floor plan; Large front display window and storefront configuration; Updated flooring and exposed brick accent wall
