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    3500 Main St Buffalo, NY 14226

    • Super regional malls
    • 17,778 SF
    • 14.00 lot acres
    For Lease
    View listing
    Last Sale
    Apr 03, 2020
    $3,600,000
    Value Estimations
    $3,340,000
    Cap Rate Potential
    6.2%
    Super regional malls
    Location Intelligence
    Property ID
    US63-1654971
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • China King / Asian Restaurant / Chinese Restaurant
    • Northtown Travel / Travel Agency
    • Golden Waffles / Dessert Shop
    • Gino's NY Pizza ( University Plaza ) / Pizza Restaurant
    • Venus Greek & Mediterránean / Mediterranean Restaurant / Greek Restaurant

    Property Details for 3500 Main St

    Year built
    1950
    Lot size
    14.00 lot acres
    Property size
    17,778 SF
    Zone code
    GB
    Property type
    Super regional malls
    APN
    142289 79.32-2-24
    APU
    1422897932224

    Description

    University Plaza, a prime retail strip center with medical office space, offers exceptional leasing opportunities in Amherst, NY. Located at 3500 Main Street, 14226, this Erie County property boasts a total of 163,388 square feet. Currently, there are 18,598 square feet of vacant space available, divisible into units ranging from a minimum of 2,398 square feet to a maximum contiguous space of 10,000 square feet. This presents a unique chance for businesses seeking flexible and adaptable spaces to suit their specific needs. The property's strategic location in Amherst provides excellent visibility and accessibility, making it an ideal location for a variety of retail and medical tenants. The property's multiple tenancy structure fosters a vibrant and diverse community of businesses. This is a rare opportunity to secure space in a well-established and thriving commercial center in a high-traffic area of Buffalo, New York. The property is conveniently located in Erie County, offering easy access to major transportation routes and a strong local customer base. Interested parties are encouraged to inquire about available spaces and lease terms. This is a fantastic opportunity to establish or expand your business in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,305,000
      ML approach
      $3,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,395,000
      6.5%
      $3,135,000
      7%
      $2,910,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,190,000
      Market price range: $743k - $4.19M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8177
    Latitude
    42.9595
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $400,257
    $1,630,000
    $10,753,000
    $12,383,000
    -
    $2,629,032
    $17,343,549
    $19,972,581

    Comparable in this City

    • Value Estimation
      $645,000
      50,098 SF

      4960 Harlem Rd, Unit 4994

      REGIONAL SHOPPING CENTER, MALL • 50,098 SF
      4960 Harlem Rd, Amherst, NY 14226-2560
      View Details
    • Value Estimation
      $895,000
      384,825 SF

      1265 Niagara Fls Blvd

      REGIONAL SHOPPING CENTER, MALL • 384,825 SF
      1265 Niagara Fls Blvd, Buffalo, NY 14226-1104
      View Details
    • Value Estimation
      $615,000
      56,060 SF

      4224 Maple Rd

      SHOPPING CENTER, STRIP CENTER • 56,060 SF
      4224 Maple Rd, Buffalo, NY 14226-1060
      View Details
    • Value Estimation
      $745,000
      35,374 SF

      3186 Sheridan Dr, Unit 3220

      SHOPPING CENTER, STRIP CENTER • 35,374 SF
      3186 Sheridan Dr, Amherst, NY 14226-1907
      View Details
    • Value Estimation
      $645,000
      47,052 SF

      4080 Maple Rd, Unit 4120

      SHOPPING CENTER, STRIP CENTER • 47,052 SF
      4080 Maple Rd, Buffalo, NY 14226-1025
      View Details
    • Value Estimation
      $730,000
      139,215 SF

      3300 Sheridan Dr, Unit 3394

      SHOPPING CENTER, STRIP CENTER • 139,215 SF
      3300 Sheridan Dr, Buffalo, NY 14226-1439
      View Details

    Similar Nearby for Sale

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      Buffalo Restaurant - Turnkey Opportunity

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      Amherst Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      3,600 SF

      Retail Space Anchored by Tops

      Retail space anchored by Tops Markets, Dollar Tree, and more.
      67 Windermere Blvd, Buffalo, NY 14226
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space in Buffalo Suburb

      Retail space anchored by Tops Markets in Amherst, New York.
      3588 Main St, Buffalo, NY 14226
      View Details
    • Contact for pricing
      163,388 SF

      University Plaza Retail Space For Lease

      Amherst, NY Strip Center - Medical
      3500 Main St, Buffalo, NY 14226
      View Details
    • Contact for pricing
      3,091 SF

      Amherst Executive Office Space

      Prime Amherst location, 1354 sq ft available.
      3991 Harlem Rd, Amherst, NY 14226
      View Details
    • $21 SF/Yr
      10,454 SF

      Amherst Retail Space For Lease

      Prime Amherst location, 10,454 sq ft available.
      1185 Sweet Home Rd, Amherst, NY 14226
      View Details
    • Contact for pricing
      106,917 SF

      Amherst Retail Space Available

      High-visibility retail space, Amherst, NY
      4220 Maple Rd, Amherst, NY 14226
      View Details
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    3500 Main St
    Buffalo, NY 14226
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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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