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    990 Niagara St Buffalo, NY 14213

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    For Sale
    Contact for pricing

    95-unit apartment complex, prime Buffalo location

    Property size:
    50,246 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity in Buffalo, NY, presents a fully entitled project at 990 Niagara Street. The 1.05-acre site features approved plans and permits for a 10-story building (130' high) encompassing 95 residential units – 48 one-bedroom and 47 two-bedroom apartments – and 6,000 square feet of ground-level retail space. The development also includes a 170-car parking ramp, a landscaped rooftop terrace with panoramic views, and a dog park. Construction drawings and site plans are available. The existing 50,246 - 125,000 square foot structure includes a parking ramp approved for ground-level commercial use. This project benefits from approximately $5.5 million in Brownfield Cleanup Program (BCP) credits, significantly reducing development costs. The building's design incorporates a three-story terrace atop the parking ramp. The asking price is $4.25 million. This prime location offers stunning views of the Niagara River and capitalizes on Buffalo's thriving market. The property's year of construction is 1923 for the existing structure, with the new construction to be determined. This is a rare chance to acquire a fully permitted, high-value mixed-use development in a rapidly growing urban area.

    Property Features for 990 Niagara St

    General Information

    Property type
    Multifamily properties
    Square Feet
    50,246 SF

    Building Details

    Year Built
    1923

    HighLights

    • Over one acre land parcel.
    • 50,000 SF existing parking ramp with city approval for ground‑level commercial space and ~170 parking spaces.
    • City‑approved plans for a 10‑story, 95‑unit apartment building (48 one‑bedroom, 47 two‑bedroom).
    • Project renderings and drawings available, including a 3‑story rooftop terrace.
    • $5.5M in available Brownfield tax credits.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.900041048468
    Latitude
    42.910372988412

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    FAQs

    What type of property is this?
    Multifamily property - 95-unit apartment complex, prime Buffalo location
    Where is this multifamily property located?
    The property is located at 990 Niagara St Buffalo, NY.
    What are key features of this property?
    This property features: Over one acre land parcel.; 50,000 SF existing parking ramp with city approval for ground-level commercial space and ~170 parking spaces.; City-approved plans for a 10-story, 95-unit apartment building (48 one-bedroom, 47 two-bedroom).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    990 Niagara St Buffalo, NY 14213
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