Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3249 Sheridan Dr Buffalo, NY 14226-1435

    • Retail space
    • 12,551 SF
    • 1.38 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2020
    $4,265,000
    Value Estimations
    $3,885,000
    Show details
    Cap Rate Potential
    3.1%
    Retail space
    Location Intelligence
    Property ID
    US63-6136141
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Philip A. DeFranco Jr, Pharm / Pharmacy

    Property Details for 3249 Sheridan Dr

    Year built
    1999
    Lot size
    1.38 lot acres
    Property size
    12,551 SF
    Zone code
    SC-3
    Property type
    Retail space
    APN
    142289 67.41-2-1.11
    APU
    14228967412111

    Description

    This exceptional 12,551 square foot retail space, located at 3249 Sheridan Drive in Amherst, NY, presents a unique investment opportunity. Formerly a Rite Aid, this single-tenant building boasts a prime corner location within the Amherst Retail Corridor, ensuring high visibility and significant foot and vehicle traffic. Built in 1999 and renovated in 2006, the property features a spacious open floor plan with a second-floor mezzanine, providing ample room for various business configurations. The building includes a convenient drive-thru window, a significant asset for many retail operations. Parking is abundant, with 5.10 total spaces available. The property benefits from a digitally controlled HVAC system and large storefront windows, maximizing natural light and creating an inviting atmosphere. The zoning is General Retail, allowing for a wide range of potential uses. The building is a two-story structure with three-phase power, but lacks elevators. Cross street access is available via Bailey Avenue. This location offers unparalleled access to a thriving consumer base in a highly desirable area. The property's size, features, and location make it an ideal choice for businesses seeking a prominent presence in the Amherst market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,920,000
      ML approach
      $3,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,022,000
      Market price range: $794k - $3.02M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8134
    Latitude
    42.9797
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $86,792
    $495,000
    $2,015,000
    $2,510,000
    -
    $798,387
    $3,250,000
    $4,048,387

    Comparable in this City

    • Value Estimation by Request
      15,000 SF

      962 Maple Rd

      Individual retail properties • 15,000 SF
      962 Maple Rd, Buffalo, NY 14226
      View Details
    • Value Estimation
      $640,000
      14,976 SF

      3605 Sheridan Dr

      RETAIL STORES (PERSONAL SERVICES) • 14,976 SF
      3605 Sheridan Dr, Amherst, NY 14226-1632
      View Details
    • Value Estimation
      $3,655,000
      13,855 SF

      2043 Kensington Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,855 SF
      2043 Kensington Ave, Buffalo, NY 14226-4722
      View Details
    • Value Estimation
      $415,000
      6,840 SF

      3309 Sheridan Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,840 SF
      3309 Sheridan Dr, Buffalo, NY 14226-1440
      View Details
    • Value Estimation
      $655,000
      18,120 SF

      3521 Sheridan Dr

      RETAIL STORES (PERSONAL SERVICES) • 18,120 SF
      3521 Sheridan Dr, Amherst, NY 14226-1524
      View Details
    • Value Estimation by Request
      2,950 SF

      1259 Eggert Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,950 SF
      1259 Eggert Rd, Buffalo, NY 14226-4157
      View Details

    Similar Nearby for Sale

    • $499,000
      1,400 SF

      Turnkey Retail Space on Millersport

      1,400 SF retail space with commercial kitchen for sale.
      744 Millersport Hwy, Amherst, NY 14226
      View Details
    • $185,000
      1,779 SF

      Buffalo Restaurant - Turnkey Opportunity

      Established Restaurant, High-Income Area
      0 Main St, Buffalo, NY 14226
      View Details
    • $449,000
      3,650 SF

      Remodeled Office Building For Sale

      3,650 SF office building with remodeled interiors and parking.
      4444 Main St, Buffalo, NY 14226
      View Details
    • $199,900

      Two-Unit Property with Garage

      Two-unit property with a two-car garage and commercial zoning.
      483 Longmeadow Rd, Buffalo, NY 14226
      View Details
    • $800,000
      0.65 Acres

      Bailey Avenue Development Opportunity

      0.65 acre corner lot in Amherst's booming commercial corridor.
      220 Meyer Rd, Buffalo, NY 14226
      View Details
    • $2,150,000

      Amherst Multifamily Investment Opportunity

      30 units in a desirable suburban neighborhood with upside potential.
      4035-4055 Harlem Rd, Buffalo, NY 14226
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,726 SF

      Retail/Office Space in Buffalo, NY

      Retail or office space with high visibility and ample parking.
      4220-4224 Maple Rd, Buffalo, NY 14226
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space in Buffalo Suburb

      Retail space anchored by Tops Markets in Amherst, New York.
      3588 Main St, Buffalo, NY 14226
      View Details
    • Contact for pricing
      4,782 SF

      Amherst Retail/Office Space Available

      Retail or office space in a well-established Amherst location.
      1630 Eggert Rd, Buffalo, NY 14226
      View Details
    • Contact for pricing
      12,551 SF

      Retail Space Available

      Former Rite Aid retail space available for rent.
      3249 Sheridan Dr, Buffalo, NY 14226
      View Details
    • $11 SF/Yr
      9,635 SF

      Renovated Commercial Space with Warehouse

      Adaptable retail, office, and warehouse space in high-visibility location.
      4336 Bailey Ave, Buffalo, NY 14226
      View Details
    • $18 SF/Yr
      15,000 SF

      Maple Road Executive Office Suite

      1,470 SF Office Space For Lease
      962 Maple Rd, Buffalo, NY 14226
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3249 Sheridan Dr
    Buffalo, NY 14226-1435
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.