317 Hopkins St Buffalo, NY 14220
- Investment properties
- 2,592 SF
- 0.56 lot acres
Current Use by Public Records
- Investment properties
Property Details for 317 Hopkins St
- Year built
- 1920
- Lot size
- 0.56 lot acres
- Property size
- 2,592 SF
- Zone code
- N-3E
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 140200 133.38-3-93.1
- APU
- 140200133383931
Description
This exceptional turn-key restaurant and bar opportunity is located in South Buffalo at 317 Hopkins St, in Erie County, NY 14220. The 4,632 square foot, two-story building sits on a 0.56-acre lot and boasts a spacious 30-foot bar with seating for 50, plus additional restaurant seating, easily accommodating up to 200 guests for events. The property includes all kitchen equipment, tables, chairs, bar, and TVs. A walk-in freezer and cooler are conveniently located off the kitchen and in the basement respectively. Recent renovations (2019) include a new roof (installed 4 years ago), updated outdoor seating/patio, and a large parking lot with expansion potential. Two income-generating apartments are included: a three-bedroom, one-bathroom unit above the bar (potential rental income $1,500/month) and a detached one-bedroom, one-bathroom apartment (potential rental income $950/month). The building features baseboard heat for the main area and forced air for the apartments, along with new air compressor and 1-ton AC units in the basement. The property is zoned commercial and benefits from excellent exposure and ample off-street parking. Its prime location offers easy access to major southern Buffalo markets (Lackawanna, West Seneca, Hamburg, Orchard Park, and Cheektowaga), the New York State Thruway (I-90 & I-190), and popular attractions like the Tesla Gigafactory, Mercy Hospital, Seneca Casino, Key Bank Center, Buffalo Harbor, Buffalo Riverworks, and the Buffalo Botanical Gardens. The asking price is $545,900 ($117.85/sq ft). This is a truly remarkable opportunity for a savvy investor. The building was constructed in 1920.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $485,000
- 6.5%
- $490,000
- 7%
- $495,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $485,000
- Geo Method
- $450,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $390,000
- Retail
- $455,000
- Mixed-Use
- $430,000
- Hospitality
- $450,000
- Educational
- $400,000
- Residential Income
- $510,000
- Energy
- $400,000
- Income-Based Land
- $440,000
- Food Service
- $480,000
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8319
- Latitude
- 42.8463
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
