Renovated Mixed-Use
New
For Sale
$499,000
970 Sycamore St, Buffalo, NY 14212
Two-level property pairs updated commercial space with a separate residential unit and an additional lot for future planning.
Property Size2,626 SF
Price / SF$190.02
Days on Market6
Property Features for 970 Sycamore St
General Information
Standard status
Active
Size
2,626 SF
Property subtype
Multi-Family
Additional Details
Floor
First Floor
Utilities to Site
Yes
Office Units
1
Building Details
Year Built
1936
Buildings
1
Listing Agency:
Rondinelli Real Estate
(929) 330-5764
Listed By:
Muazim Hussain · License #10401334626
Source:
Skinnercnyrealty
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 7:59PM
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 Rondinelli Real Estate
Investment Insights
Based on property information with market context.
Located at 970 Sycamore St in Buffalo, this 2,626-square-foot mixed-use building combines commercial and residential functions across two levels. The first floor provides approximately 1,800 sq. ft. of flexible business space with a full bathroom, updated electrical service, a new heating system, and a new hot water tank. The upper level contains a residential unit with three bedrooms, one full bathroom, a modern kitchen, living room, formal dining area, new flooring, and updated finishes.
The property includes an additional 15' x 140' lot that could support parking or expansion plans. Nearby destinations identified in the property information include a Masjid, Islamic School, and grocery stores. An adjacent corner lot owned by the City of Buffalo may also be available subject to an approved development plan.
The property includes an additional 15' x 140' lot that could support parking or expansion plans. Nearby destinations identified in the property information include a Masjid, Islamic School, and grocery stores. An adjacent corner lot owned by the City of Buffalo may also be available subject to an approved development plan.
Key Highlights
- 2,626‑square‑foot mixed‑use building constructed in 1936
- Approximately 1,800 sq. ft. of first‑floor commercial space
- Upper‑level residential unit with 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,745
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$654,900
$654.9K
Cap Rate 7%
$467,786
$467.8K
Cap Rate 9%
$363,833
$363.8K
Market Conditions
NOI Build-Up for 2,626 SF
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.
Gross rent
$53.6K $20.40/SF
− Vacancy
−$9.9K −$3.77/SF
EGI
$43.7K $16.63/SF
− OpEx
−$10.9K −$4.16/SF
NOI
$32.7K $12.47/SF
Area
Buffalo, NY
Vacancy
18.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$654,900
Cap Rate 7%
$467,786
Cap Rate 9%
$363,833
Alternative Uses
Best Use
Office B
$467.8K
$409.3K – $545.8K
NOI $32,745 @ 7.0% cap · market cap 6.56%
Second Best
Mixed Use
$405.2K
$354.5K – $472.7K
NOI $28,361 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$631.5K
$552.6K – $736.8K
NOI $44,205 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
Market
Vacancy Rate% for Office in Buffalo, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property pairs updated commercial space with a separate residential unit and an additional lot for future planning.
Where is this mixed-use property located?
The property is located at 970 Sycamore St Buffalo, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,626‑square‑foot mixed‑use building constructed in 1936; Approximately 1,800 sq. ft. of first‑floor commercial space; Upper‑level residential unit with 3 bedrooms and 1 full bathroom
