Flex Space with Warehouse
New
For Sale
$375,000
64 Fillmore Ave, Buffalo, NY 14210
A versatile commercial layout combines warehouse, studio, office, reception, and storage areas for operational flexibility.
Property Size3,416 SF
Days on Market2
Property Features for 64 Fillmore Ave
General Information
Standard status
Active
Size
3,416 SF
Property subtype
Industrial
Additional Details
Road Access
Yes
Building Details
Building Size
3,416 SF
Year Built
1958
Listing Agency:
HUNT Commercial
(716) 491-7181
Listed By:
Michael Scheid
(716) 491-7181
Source:
Huntcommercial
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 4:46AM
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
Investment Insights
Based on property information with market context.
This flex property, constructed in 1958, combines several functional areas within one commercial building. The configuration includes warehouse space alongside studio, office and reception areas, plus dedicated storage space. Together, these components provide a mix of work, administrative, and storage environments without relying on a single-use layout.
The property is located at 64 Fillmore Ave in Buffalo’s Larkinville area. Access and frontage are available from both Fillmore Avenue and Cornelia Street, providing two street connections to the site.
The property is located at 64 Fillmore Ave in Buffalo’s Larkinville area. Access and frontage are available from both Fillmore Avenue and Cornelia Street, providing two street connections to the site.
Key Highlights
- Flex property at 64 Fillmore Ave, Buffalo, NY 14210
- Frontage and access from both Fillmore Avenue and Cornelia Street
- Combined warehouse, studio, office/reception, and storage areas
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
$29,054
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
7.75%
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%
$581,080
$581.1K
Cap Rate 7%
$415,057
$415.1K
Cap Rate 9%
$322,822
$322.8K
Market Conditions
NOI Build-Up for 3,416 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
$34.8K $10.20/SF
− Vacancy
−$662 −$0.19/SF
EGI
$34.2K $10.01/SF
− OpEx
−$5.1K −$1.50/SF
NOI
$29.1K $8.51/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
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%
$581,080
Cap Rate 7%
$415,057
Cap Rate 9%
$322,822
Alternative Uses
Best Use
Warehouse
$415.1K
$363.2K – $484.2K
NOI $29,054 @ 7.0% cap · market cap 7.75%
Second Best
Flex RnD
$354.0K
$309.8K – $413.0K
NOI $24,780 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$821.5K
$718.8K – $958.4K
NOI $57,504 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
613
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14210, NY
15,480
Population
7,813
Households
2
Avg Household Size
36
Median Age
19%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
4,994
Density / Sq Mi
$51,059
Median Household Income
$31,652
Median Earnings
$925
Median Rent
$124,300
Median Home Value
Market
Vacancy Rate% for Industrial in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A versatile commercial layout combines warehouse, studio, office, reception, and storage areas for operational flexibility.
Where is this flex space located?
The property is located at 64 Fillmore Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Flex property at 64 Fillmore Ave, Buffalo, NY 14210; Frontage and access from both Fillmore Avenue and Cornelia Street; Combined warehouse, studio, office/reception, and storage areas
