Mixed-Use Building on Main
2321 Main St Buffalo, NY 14214
2321 Main St, Buffalo, NY, 14214
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For Sale
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Fully occupied mixed-use building with apartments and storefronts in Buffalo.
Property Size11,567 SF
Price / SF$112.39
Days on Market1210
Property Features for 2321 Main St
General Information
- Standard status
- Active
- Size
- 11,567 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1900
Listing Agency
Donovan Real Estate Services
(585) 703-3888
Listed by
Joseph Jacobi, Jr. · License #NY 10401256164
Source
Crexi
Added: Mar 27, 2023 Checked: Jul 17 at 10:35 am
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 Donovan Real Estate Services
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building presents a great investment opportunity on Main Street in the City of Buffalo. The property features 6 apartments and 6 storefronts, along with a garage space. Recent upgrades have been completed over the last few years. The apartments have been refreshed with new paint and flooring and are in excellent overall condition. The HVAC equipment is in running order with regular maintenance. The roof was re-silvered in 2022. Located at the corner of Main St. and East Oakwood Pl, the building benefits from its position on a major traffic corridor connecting the Amherst and Williamsville neighborhoods to downtown Buffalo. The property is less than half a mile from the campuses of Medialle College and Canisius College and is easily accessed from NY-198. Major employers in the area include Sisters of Charity Hospital (.25 miles), Erie County Medical Center (1 mile), and National Grid (.25 miles). Notable landmarks close by include the Buffalo Zoo, Delaware Park, and Frank Lloyd Wright's Darwin Martin House Complex. The property size is 11567 square feet.
Key Highlights
- Fully occupied mixed‑use building with 6 apartments and 6 storefronts
- Located on Main St., a major traffic corridor, near Medaille College and Canisius College
- Recent upgrades including refreshed apartments with new paint and flooring
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.4k | $15.60 |
| − Vacancy | −$19.5k | −$1.68 |
| EGI | $161.0k | $13.92 |
| − OpEx | −$48.3k | −$4.17 |
| NOI | $112.7k | $9.74 |
11,567 SF · lease $15.60/SF/yr · vacancy 10.80% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,924 @ 7.0% cap · market cap 9.61%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,670 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,714 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cloudy Smoke shop
(Bike/Boat/Book/etc) Store
716 Customs
Production Facility
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully occupied mixed-use building with apartments and storefronts in Buffalo.
Where is this mixed-use 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 occupied mixed‑use building with 6 apartments and 6 storefronts; Located on Main St., a major traffic corridor, near Medaille College and Canisius College; Recent upgrades including refreshed apartments with new paint and flooring
