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    New Retail Space in Buffalo Title is generated by Realmo AI

    386 Grant St, Buffalo, NY 14213

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    Brand new 700 sqft retail space in vibrant neighborhood.

    Type:Retail
    Property size:
    700 SF
    Added:
    Aug 19, 2024
    Days on Market:
    654
    Last Refresh:
    May 12 at 9:25 pm

    Property Features for 386 Grant St

    General Information

    Standard status
    Active
    Size
    700 SF
    Property subtype
    Retail

    Spaces For Lease

    at 386 Grant St Contact us

    $22/Mo

    Size
    700 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Caitlin Coder

    Listing agent Caitlin Coder License #NY

    Listing office Schneider Real Estate Services

    Listing date Aug 19, 2024

    Source Crexi

    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 Schneider Real Estate Services

    HighLights

    • Brand new 700 sqft retail space in a high‑visibility location on Buffalo's vibrant West Side.
    • Rent includes heating, cooling, water, and one off‑street parking space.
    • Modern design with 14 ft ceilings, exposed ductwork, polished concrete floors, and oversized storefront glass.
    • Delivered as a vanilla box, ready for customization with new HVAC, electrical service, and ADA restroom.
    • Part of a new mixed‑use building with high‑end apartments, geothermal heating/cooling, and solar panels.
    • Off‑street tenant parking, bicycle racks, professional landscaping, and new sidewalks.

    Overview

    This brand new 700 sqft retail storefront is located on the first floor of a three-story mixed-use building featuring five high-end apartments and one ground level commercial space. The building includes geothermal heating and cooling, extensive solar panels, bicycle racks, off-street tenant parking, professional landscaping, new sidewalks, and exterior lighting. There is also an opportunity for high visibility building signage. The space will be delivered as a vanilla box with polished concrete floors, walls primed and ready for paint, one ADA restroom, a new HVAC system with distribution and individual climate control, new electrical service, and standard lighting. Located in the vibrant West Side neighborhood of Buffalo, the property is near Gypsy Parlor, Westside Stories, Black Dot Records, Adapt Physical Therapy, and The Law Office of Stephanie Adams. The space features modern design elements including an open plan, exposed duct work, 14 ft ceilings, and oversized storefront glass for bright natural light. It is ideally suited for retail or small professional office use. Monthly rent includes heating, cooling, water utility, and one off-street parking space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8901312
    Latitude
    42.9244385

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    FAQs

    What type of property is this?
    Retail space - Brand new 700 sqft retail space in vibrant neighborhood.
    Where is this retail space located?
    The property is located at 386 Grant St Buffalo, NY.
    What is the lease rate?
    The lease rate is $267 SF/Yr.
    What are key features of this property?
    This property features: Brand new 700 sqft retail space in a high‑visibility location on Buffalo's vibrant West Side.; Rent includes heating, cooling, water, and one off‑street parking space.; Modern design with **14 ft ceilings**, **exposed ductwork**, **polished concrete floors**, and **oversized storefront glass**.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Caitlin Coder
    Real Estate License ID: NY
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    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.

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