Spa and Wellness
For Sale
$750,000
8035 GREINER RD, Buffalo, NY 14221
Rebuilt in 2004 with parking for 15+ vehicles and access near Transit and Greiner Roads.
Property Size3,421 SF
Price / SF$219.23
Days on Market310
Property Features for 8035 GREINER RD
General Information
Standard status
Active
Size
3,421 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$9,312
Amenities
Central Air, Gas
3
Shingle
483
15 Parking Spaces.
Rectangular
107X125
Rectangular.
Building Details
Year Built
2004
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 812-6333
Listed By:
Domenico Giammusso · License #10401358378
(716) 812-6333
Source:
Xome
Added: Oct 25, 2025
Changed: Aug 29
Last Checked: Apr 24 at 8:10AM
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 Real Estate Corp. of Buffalo New York
Investment Insights
Based on property information with market context.
This spa and wellness property is a well-maintained commercial building at 8035 Greiner Rd with 107 feet of frontage. The structure was rebuilt in 2004 and provides parking for 15+ vehicles. It has housed Toscana Salon & Day Spa for 16 years, supporting an established wellness-oriented use.
The property is near the Transit and Greiner Roads intersection and sits beside a regional shopping center serving Clarence, Amherst, Williamsville, Lockport, and Lancaster. Nearby businesses include Walmart, BJ’s Wholesale Club, Dick’s Sporting Goods, LA Fitness, Old Navy, and Ulta Beauty, along with other shops and eateries. Buffalo Niagara International Airport, downtown Buffalo, and Eastern Hills Mall are also within a short drive.
The property is near the Transit and Greiner Roads intersection and sits beside a regional shopping center serving Clarence, Amherst, Williamsville, Lockport, and Lancaster. Nearby businesses include Walmart, BJ’s Wholesale Club, Dick’s Sporting Goods, LA Fitness, Old Navy, and Ulta Beauty, along with other shops and eateries. Buffalo Niagara International Airport, downtown Buffalo, and Eastern Hills Mall are also within a short drive.
Key Highlights
- Spa and wellness property at 8035 Greiner Rd
- 107 feet of frontage near Transit and Greiner Roads
- Rebuilt in 2004
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
$33,323
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
4.44%
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%
$666,460
$666.5K
Cap Rate 7%
$476,043
$476.0K
Cap Rate 9%
$370,256
$370.3K
Market Conditions
NOI Build-Up for 3,421 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
$53.4K $15.60/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$47.6K $13.92/SF
− OpEx
−$14.3K −$4.17/SF
NOI
$33.3K $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%
$666,460
Cap Rate 7%
$476,043
Cap Rate 9%
$370,256
Alternative Uses
Best Use
Retail
$476.0K
$416.5K – $555.4K
NOI $33,323 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.7K
$719.9K – $959.8K
NOI $57,588 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
122k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 73%
Home Improvements & Furnishings 27%
Wegmans
Groceries
88,800 visits/mo
0.4 miles
HomeGoods
Home Improvements & Furnishings
28,062 visits/mo
0.4 miles
Valu Home Centers
Home Improvements & Furnishings
4,947 visits/mo
0.5 miles
PPG Paints
Home Improvements & Furnishings
533 visits/mo
0.4 miles
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Similar Off Market Nearby
- The W Spa — 8500 Roll Rd Suite C, Clarence Center, NY 14032
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Rebuilt in 2004 with parking for 15+ vehicles and access near Transit and Greiner Roads.
Where is this spa & wellness property located?
The property is located at 8035 GREINER RD Buffalo, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Spa and wellness property at 8035 Greiner Rd; 107 feet of frontage near Transit and Greiner Roads; Rebuilt in 2004
