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    Property profile & analytics

    3977 Seneca St Buffalo, NY 14224

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 3977 Seneca St

    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional 5,070 square foot retail sublease opportunity is situated within the thriving Southgate Plaza in West Seneca, a suburb of Buffalo, New York. Located at 3977 Seneca Street, zip code 14224, this inline space offers unparalleled accessibility for both customers and employees. The plaza boasts a strategic location, just fifteen minutes from downtown Buffalo and twenty minutes from the Canadian border, ensuring a broad customer base. Its convenient access to major transportation arteries further enhances its appeal. Three expressway exits (I-90, Route 400, and Route 219) converge near West Seneca, providing effortless access for thousands of potential shoppers. This single-tenancy retail space in Erie County presents a unique chance to establish or expand a business within a high-traffic, easily accessible shopping center. The property's prime location and excellent visibility make it an ideal choice for a variety of retail ventures. The sublease provides immediate occupancy in a well-maintained shopping center, minimizing setup time and maximizing revenue potential. This is a rare opportunity to secure a substantial retail space in a highly desirable location. Interested parties should act quickly to secure this exceptional sublease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7552
    Latitude
    42.8274

    Comparable in this City

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      15,120 SF

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    • Value Estimation
      $1,040,000
      16,430 SF

      2983 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 16,430 SF
      2983 Seneca St, Buffalo, NY 14224-1950
      View Details
    • Value Estimation by Request
      2,200 SF

      701 Orch Park Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      701 Orch Park Rd, Buffalo, NY 14224-2675
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    • Value Estimation by Request
      2,881 SF

      2995 Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,881 SF
      2995 Rdg Rd, Buffalo, NY 14224-3301
      View Details
    • Value Estimation
      $2,375,000
      9,230 SF

      5203 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 9,230 SF
      5203 Seneca St, Buffalo, NY 14224-3706
      View Details
    • Value Estimation by Request
      390,910 SF

      950 Union Rd

      Medical space • 390,910 SF
      950 Union Rd, West Seneca, NY 14224
      View Details

    Similar Nearby for Sale

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      10,500 SF

      Prime Corner Location Opportunity

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    • $2,394,370
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      Retail Property with Corporate Guaranty

      Retail property with a corporate-guaranteed lease and expansion options.
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    • $749,000

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      4,282 sq ft commercial property with high visibility.
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      West Seneca Retail Opportunity

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      2,298 SF

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      2298 SF retail property in a thriving commercial zone.
      2990 Seneca St, Buffalo, NY 14224
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    • $1,890,000
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      Retail Property with NNN Lease

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    Similar Nearby for Lease

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      1,803 SF

      Retail Space in Seneca Ridge Plaza

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      3521-3531 Seneca St, West Seneca, NY 14224
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    • $14 SF/Yr
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      Downtown Retail Space Available

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      900 SF, prime Union Rd location. Full build-out available.
      2339 Union Rd, West Seneca, NY 14224
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    • Contact for pricing
      62,899 SF

      Retail Space in West Seneca

      Former Goodwill space in a busy, well-maintained shopping center.
      3531 Seneca St, West Seneca, NY 14224
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    • $5,500 /Mo

      Retail Showroom with Garage Space

      Retail showroom with office, garage, and storage space available.
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      100,000 SF

      Tech Office Space Development

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    3977 Seneca St
    Buffalo, NY 14224
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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.

    More about this property
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