Mixed-Use Storefront
For Sale
Contact for pricing
736 Elmwood Ave, Buffalo, NY 14222
Two primary storefronts with retail space on the first floor and four recently renovated apartments above.
Property Size5,497 SF
Price / SF$200.09
Days on Market17
Property Features for 736 Elmwood Ave
General Information
Standard status
Active
Size
5,497 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Hunt Commercial - Buffalo
(716) 864-1929
Listed By:
Nicholas Corto · License #10401244740
(716) 864-1929
Source:
Moodyscre
Added: Jul 27
Changed: Jul 31
Last Checked: Jul 31 at 3:14AM
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 - Buffalo
Investment Insights
Based on property information with market context.
This mixed-use storefront building offers two primary storefronts and a total of 5,497 square feet. The first floor includes 2,000 square feet of retail with modern storefront windows, a brick facade, and updated buildouts. The second and third floors contain four city apartments.
Each apartment was recently renovated in 2013, with updated kitchen and bath, hardwood floors, new windows, and a spacious living area. Retail and apartments have their own separate utilities for gas and electric.
The property is fully rented. Apartment showings require 24 hours’ notice.
Each apartment was recently renovated in 2013, with updated kitchen and bath, hardwood floors, new windows, and a spacious living area. Retail and apartments have their own separate utilities for gas and electric.
The property is fully rented. Apartment showings require 24 hours’ notice.
Key Highlights
- 5,497 SF mixed‑use storefront building with two primary storefronts
- First‑floor retail totals 2,000 SF with modern storefront windows
- Four city apartments on the second and third floors
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
$54,544
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
4.96%
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%
$1,090,880
$1.1M
Cap Rate 7%
$779,200
$779.2K
Cap Rate 9%
$606,044
$606.0K
Market Conditions
NOI Build-Up for 5,497 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
$82.5K $15.00/SF
− Vacancy
−$4.5K −$0.83/SF
EGI
$77.9K $14.17/SF
− OpEx
−$23.4K −$4.25/SF
NOI
$54.5K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$1,090,880
Cap Rate 7%
$779,200
Cap Rate 9%
$606,044
Alternative Uses
Best Use
Multifamily LT 5
$779.2K
$681.8K – $909.1K
NOI $54,544 @ 7.0% cap · market cap 4.96%
Second Best
Retail
$764.9K
$669.3K – $892.4K
NOI $53,544 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,534 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,829
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two primary storefronts with retail space on the first floor and four recently renovated apartments above.
Where is this storefront property located?
The property is located at 736 Elmwood Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: 5,497 SF mixed‑use storefront building with two primary storefronts; First‑floor retail totals 2,000 SF with modern storefront windows; Four city apartments on the second and third floors
