Street-Level Retail and
For Sale
Contact for pricing
744 Elmwood Ave, Buffalo, NY 14222
For-sale mixed-use storefront property on Elmwood Avenue in a walkable corridor with 200+ local businesses.
Property Size8,711 SF
Price / SF$212.26
Days on Market151
Property Features for 744 Elmwood Ave
General Information
Standard status
Active
Size
8,711 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
N-482
Net Operating Income
$118,440
Building Details
Buildings
1
Stories
2
Units
8
Listing Agency:
WindsorTurner, LLC
Listed By:
Rod Nagy · License #10491213219
Source:
Crexi
Added: Apr 9
Changed: Aug 28
Last Checked: Sep 6 at 5:42AM
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 WindsorTurner, LLC
Investment Insights
Based on property information with market context.
This for-sale commercial property at 744 Elmwood Ave is a street-level retail asset within a mixed-use building profile. The total property size is 8,711 square feet.
Elmwood Avenue is presented as one of Western New York’s most active pedestrian corridors, with 200+ locally owned boutiques, restaurants, cafes, pubs, galleries, and service businesses. The surrounding district is described as walkable and supported by a consistent lineup of independent retailers, restaurants, and cultural institutions.
The listing information positions the property for buyers and tenants seeking established street-level retail demand within Elmwood Village.
Elmwood Avenue is presented as one of Western New York’s most active pedestrian corridors, with 200+ locally owned boutiques, restaurants, cafes, pubs, galleries, and service businesses. The surrounding district is described as walkable and supported by a consistent lineup of independent retailers, restaurants, and cultural institutions.
The listing information positions the property for buyers and tenants seeking established street-level retail demand within Elmwood Village.
Key Highlights
- For‑sale mixed‑use storefront property on Elmwood Avenue in Buffalo’s Elmwood Village
- Elmwood Village is designated by the American Planning Association as one of the “10 Great Neighborhoods in America”
- Elmwood Avenue features 200+ locally owned boutiques, restaurants, cafes, pubs, galleries, and service businesses
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
$94,079
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
5.09%
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%
$1,881,580
$1.9M
Cap Rate 7%
$1,343,986
$1.3M
Cap Rate 9%
$1,045,322
$1.0M
Market Conditions
NOI Build-Up for 8,711 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
$167.3K $19.20/SF
− Vacancy
−$16.7K −$1.92/SF
EGI
$150.5K $17.28/SF
− OpEx
−$56.4K −$6.48/SF
NOI
$94.1K $10.80/SF
Area
Buffalo, NY
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,881,580
Cap Rate 7%
$1,343,986
Cap Rate 9%
$1,045,322
Alternative Uses
Best Use
Mixed Use
$1.34M
$1.18M – $1.57M
NOI $94,079 @ 7.0% cap · market cap 5.09%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,851 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,637 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 Retail in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale mixed-use storefront property on Elmwood Avenue in a walkable corridor with 200+ local businesses.
Where is this storefront property located?
The property is located at 744 Elmwood Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: For‑sale mixed‑use storefront property on Elmwood Avenue in Buffalo’s Elmwood Village; Elmwood Village is designated by the American Planning Association as one of the “10 Great Neighborhoods in America”; Elmwood Avenue features 200+ locally owned boutiques, restaurants, cafes, pubs, galleries, and service businesses
