Mixed-Use Building with
For Sale
Contact for pricing
758 Elmwood Ave, Buffalo, NY 14222
Retail storefronts and updated apartments share dedicated on-site parking.
Property Size11,437 SF
Price / SF$131.15
Days on Market702
Property Features for 758 Elmwood Ave
General Information
Standard status
Active
Size
11,437 SF
Class
A
Total Parking Spaces
6
Property subtype
Mixed Use
Zoning
N-2C
Occupancy
80%
Investment Type
Owner/User
Amenities
courtyard
Building Details
Buildings
2
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
WindsorTurner, LLC
Listed By:
Rod Nagy · License #10491213219
Source:
Crexi
Added: Sep 29, 2024
Changed: Aug 30
Last Checked: Aug 30 at 12:00AM
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 11,437-square-foot mixed-use property combines three retail shops with a distinctive courtyard and two updated residential units oriented toward Elmwood Avenue. The apartments include in-unit washers and dryers, dishwashers, air-conditioning, and major appliances. Six dedicated parking spaces serve the residential and retail components.
The building is positioned along Elmwood Avenue in Buffalo’s Elmwood Village, within a densely populated neighborhood retail corridor. N-2C zoning supports the property’s mixed commercial and residential configuration. The combination of storefronts, apartments, shared parking, and courtyard space creates a compact asset with both retail and residential components.
The building is positioned along Elmwood Avenue in Buffalo’s Elmwood Village, within a densely populated neighborhood retail corridor. N-2C zoning supports the property’s mixed commercial and residential configuration. The combination of storefronts, apartments, shared parking, and courtyard space creates a compact asset with both retail and residential components.
Key Highlights
- 11,437‑square‑foot mixed‑use property with three retail shops and two residential units
- Distinctive courtyard positioned among the retail storefronts
- Two updated residential units facing Elmwood Avenue
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
$123,520
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
8.23%
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%
$2,470,400
$2.5M
Cap Rate 7%
$1,764,571
$1.8M
Cap Rate 9%
$1,372,444
$1.4M
Market Conditions
NOI Build-Up for 11,437 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
$219.6K $19.20/SF
− Vacancy
−$22.0K −$1.92/SF
EGI
$197.6K $17.28/SF
− OpEx
−$74.1K −$6.48/SF
NOI
$123.5K $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%
$2,470,400
Cap Rate 7%
$1,764,571
Cap Rate 9%
$1,372,444
Alternative Uses
Best Use
Mixed Use
$1.76M
$1.54M – $2.06M
NOI $123,520 @ 7.0% cap · market cap 8.23%
Second Best
Multifamily LT 5
$1.62M
$1.42M – $1.89M
NOI $113,484 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,526 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,829
Businesses Nearby
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?
Mixed-use property - Retail storefronts and updated apartments share dedicated on-site parking.
Where is this mixed-use property located?
The property is located at 758 Elmwood Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 11,437‑square‑foot mixed‑use property with three retail shops and two residential units; Distinctive courtyard positioned among the retail storefronts; Two updated residential units facing Elmwood Avenue
