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    2321 Main St Buffalo, NY 14214

    Sponsored
    For Sale
    $1,300,000

    High-yield Buffalo, NY property. Fully leased, 6.91% cap rate.

    Property size:
    11,567 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use investment opportunity presents a fully leased, 11,567 square foot building located at 2321 Main Street in Buffalo, New York, 14214. The property boasts a strong 6.91% capitalization rate and a net operating income (NOI) of $89,841, with an asking price of $1,300,000. The building, constructed in 1900 and featuring two stories, comprises six apartments and six storefronts, along with a garage. Recent upgrades include refreshed apartments with new paint and flooring, ensuring excellent condition. The HVAC system is well-maintained, and the roof underwent resilvering in 2022. This prime location at the corner of Main Street and East Oakwood Place benefits from high traffic volume on Main Street, a major thoroughfare connecting Amherst and Williamsville to downtown Buffalo. Its proximity to Medaille College and Canisius College, along with easy access from NY-198, enhances its appeal. Major employers such as Sisters of Charity Hospital, Erie County Medical Center, and National Grid are located nearby. The property also enjoys proximity to notable landmarks including the Buffalo Zoo, Delaware Park, and the Darwin Martin House Complex. The building is currently 100% occupied with rent bumps available. This is a net lease property with a gross lease type and multi-tenancy. The property offers significant upside potential due to below-market leases in place. The average annual daily traffic (AADT) exceeds 23,500 vehicles.

    Property Features for 2321 Main St

    General Information

    Property type
    Retail properties
    Square Feet
    11,567 SF

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    2

    HighLights

    • Fully leased, 11,567 SF mixed‑use building in Buffalo, NY.
    • 6.91% capitalization rate, $89,841 NOI, $1,300,000 asking price.
    • Significant upside potential due to below‑market leases.
    • High‑traffic location (23,500+ AADT) on Main Street, near Medaille and Canisius Colleges.
    • Easy access to NY‑198, near major employers and landmarks.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cloudy Smoke shop Smoke Shop 716 Customs Embroidery Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8459594
    Latitude
    42.9324132

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    FAQs

    What type of property is this?
    Retail property - High-yield Buffalo, NY property. Fully leased, 6.91% cap rate.
    Where is this retail property located?
    The property is located at 2321 Main St Buffalo, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Fully leased, 11,567 SF mixed-use building in Buffalo, NY.; 6.91% capitalization rate, $89,841 NOI, $1,300,000 asking price.; Significant upside potential due to below-market leases.
    Request Owner's contact information
    2321 Main St Buffalo, NY 14214
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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
    2321 Main St Buffalo, NY 14214
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