Mixed-Use Property with
For Sale
$200,000
Pending
84 Reiman St, Buffalo, NY 14206
Restaurant-oriented commercial space combines an updated kitchen, dining area, covered patio, and an upstairs apartment.
Property Size2,574 SF
Days on Market179
Property Features for 84 Reiman St
General Information
Standard status
Pending
Size
2,574 SF
Taxes and HOA fees
Annual Taxes
$3,375
Listing Agency:
WNY Metro Roberts Realty
(716) 662-0449
Listed By:
Sherry Holtz · License #10401237951
(716) 662-0449
Source:
Exprealty
Added: Mar 4
Changed: Aug 29
Last Checked: Aug 29 at 10:35PM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
This 2,574-square-foot mixed-use property combines commercial food-and-beverage space with an upstairs 1+ bedroom apartment. The commercial area includes a dining room, additional seating beneath a covered outdoor patio, and a kitchen updated in 2023. The sale includes kitchen equipment and supplies, bar stools, pub tables, chairs, TVs, Pepsi coolers, and bar décor and signs.
Previously operated as a tavern, the property is configured for a hospitality-oriented use while also providing separate residential space above. Its combination of commercial improvements, included furnishings and equipment, covered patio seating, and an upstairs apartment creates a distinct mixed-use layout.
Previously operated as a tavern, the property is configured for a hospitality-oriented use while also providing separate residential space above. Its combination of commercial improvements, included furnishings and equipment, covered patio seating, and an upstairs apartment creates a distinct mixed-use layout.
Key Highlights
- 2,574‑square‑foot mixed‑use property with an upstairs 1+ bedroom apartment
- Kitchen updated in 2023
- Dining area plus additional seating on a covered outdoor patio
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
$18,029
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
9.01%
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%
$360,580
$360.6K
Cap Rate 7%
$257,557
$257.6K
Cap Rate 9%
$200,322
$200.3K
Market Conditions
NOI Build-Up for 2,574 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
$26.3K $10.20/SF
− Vacancy
−$499 −$0.19/SF
EGI
$25.8K $10.01/SF
− OpEx
−$7.7K −$3.00/SF
NOI
$18.0K $7.00/SF
Area
Buffalo, NY
Vacancy
1.90%
Lease Rate
$10.20 /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%
$360,580
Cap Rate 7%
$257,557
Cap Rate 9%
$200,322
Alternative Uses
Best Use
Specialty Retail
$421.6K
$368.9K – $491.9K
NOI $29,513 @ 7.0% cap · market cap 14.76%
Second Best
Mixed Use
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 13.90%
Theoretical Best
Office A
$619.0K
$541.6K – $722.2K
NOI $43,330 @ 7.0% cap · market cap 21.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 14206, NY
21,706
Population
10,677
Households
2
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
4,341
Density / Sq Mi
$46,842
Median Household Income
$38,379
Median Earnings
$886
Median Rent
$111,600
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?
Mixed-use property - Restaurant-oriented commercial space combines an updated kitchen, dining area, covered patio, and an upstairs apartment.
Where is this mixed-use property located?
The property is located at 84 Reiman St Buffalo, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,574‑square‑foot mixed‑use property with an upstairs 1+ bedroom apartment; Kitchen updated in 2023; Dining area plus additional seating on a covered outdoor patio
