Freestanding Auto Repair
For Sale
$875,000
874 Niagara Falls Boulevard, Buffalo, NY 14223
Freestanding automotive facility with collision-shop improvements, a paint booth, office areas, and a national-chain NNN tenant.
Property Size8,357 SF
Price / SF$104.70
Days on Market9
Property Features for 874 Niagara Falls Boulevard
General Information
Standard status
Active
Size
8,357 SF
Building Details
Year Built
1948
Listing Agency:
Keller Williams Realty WNY
(716) 697-3280
Listed By:
Joshua James · License #10301210944
Source:
Thejoshjamesteam
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 8:15PM
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 Keller Williams Realty WNY
Investment Insights
Based on property information with market context.
This 8,357-square-foot freestanding automotive facility includes 16 service bays and 9 overhead doors, including two measuring 13 feet. The layout accommodates cars, trucks, and larger commercial vehicles, with an attached lobby, waiting room, conference area, functional kitchen, offices, and separate workshop bathrooms. A fenced and gated parking area, approved paint booth, 3-phase electric, industrial heaters, dual compressors, and additional mechanical improvements support the operation. The property was built in 1948, with a 2023 hot water tank and a newer forced-air furnace.
The property fronts Niagara Falls Boulevard and is positioned near Eggert Road and Sheridan Drive within the Amherst and Tonawanda retail corridor. Thirty surfaced parking spaces are provided. The asset is occupied by a national chain tenant under an NNN lease, with automatic rental increases and supplemental billboard income.
The property fronts Niagara Falls Boulevard and is positioned near Eggert Road and Sheridan Drive within the Amherst and Tonawanda retail corridor. Thirty surfaced parking spaces are provided. The asset is occupied by a national chain tenant under an NNN lease, with automatic rental increases and supplemental billboard income.
Key Highlights
- 8,357 SF freestanding automotive facility built in 1948
- 16 service bays with 9 overhead doors, including two 13‑foot doors
- Approved paint booth with 3‑phase electric, industrial heaters, and dual compressors
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
$58,535
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
6.69%
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%
$1,170,700
$1.2M
Cap Rate 7%
$836,214
$836.2K
Cap Rate 9%
$650,389
$650.4K
Market Conditions
NOI Build-Up for 8,357 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
$85.2K $10.20/SF
− Vacancy
−$1.6K −$0.19/SF
EGI
$83.6K $10.01/SF
− OpEx
−$25.1K −$3.00/SF
NOI
$58.5K $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%
$1,170,700
Cap Rate 7%
$836,214
Cap Rate 9%
$650,389
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,403 @ 7.0% cap · market cap 9.30%
Second Best
Industrial
$836.2K
$731.7K – $975.6K
NOI $58,535 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,678 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
115k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 37%
Apparel 18%
Beauty & Spa 4%
Chili's Grill & Bar
Dining
24,485 visits/mo
0.3 miles
Savers Thrift Store
Apparel
14,934 visits/mo
0.2 miles
Burger King
Dining
12,644 visits/mo
0.4 miles
Bank of America
Shops & Services
11,578 visits/mo
0.5 miles
M&T Bank
Shops & Services
10,788 visits/mo
0.5 miles
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
Median Home Value
Market
Vacancy Rate% for Retail in Buffalo, NY
Questions? Ask Rey
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Similar Off Market Nearby
- K & A Auto Repair — 1784 Eggert Rd, Buffalo, NY 14226
- Auto Glass Now — 874 Niagara Fls Blvd, Buffalo, NY 14223
- Bucholtz Transmission — 2760 Sheridan Dr, Tonawanda, NY 14150
- Bellreng's Automotive Center — 2131 Eggert Rd, Amherst, NY 14226
- Mavis Discount Tire — 3280 Sheridan Dr, Amherst, NY 14226
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding automotive facility with collision-shop improvements, a paint booth, office areas, and a national-chain NNN tenant.
Where is this auto shop located?
The property is located at 874 Niagara Falls Boulevard Buffalo, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 8,357 SF freestanding automotive facility built in 1948; 16 service bays with 9 overhead doors, including two 13‑foot doors; Approved paint booth with 3‑phase electric, industrial heaters, and dual compressors
