2227 Park AveBuffalo, NY 14220

Property Details for 2227 Park Ave

Year built

1950

Lot size

0.93 AC

Property size (Sq ft)

25,232 SF

Zone code

N-3E

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

140200 133.71-1-5

APU

1402001337115

Description

This exceptional executive office building in Buffalo, NY, offers multiple suites ranging from 1,800 to 3,600 square feet, totaling 23,288 square feet. Located at 2227 South Park Ave in Erie County, this 2007-built property sits on a 0.93-acre lot (234.40' x 120') and boasts ample parking for approximately 42 vehicles. Currently, 7,668 square feet of space is available for lease. The building features a modern design with "like-new" interiors. Each floor is approximately 3,600 square feet and can be subdivided into 1,800-square-foot units. The building is equipped with one boiler serving all three floors. The first floor offers a spacious layout, with each side measuring 20' x 86'. The lease rate is $12.50 NNN, with net operating expenses of $1.30 per square foot. Signage opportunities are available. This property presents a fantastic opportunity for businesses seeking modern, efficient, and well-located office space in Buffalo.

• CAP approach

  CAP return

  Valuation

  6%

  $4,577,180

  6.5%

  $4,225,088

  7%

  $3,923,296

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,413,953

  Geo Method

  $1,587,345

• Alternative Use

  Use

  Valuation

  Residential

  $5,239,110

  Hospitality

  $4,798,996

  Educational

  $3,992,709

  Medical

  $4,130,024

  Retail

  $6,210,880

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.8377

Longitude

-78.8243

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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