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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1030 Elmwood Ave Buffalo, NY 14222

    • Commercial real estate
    • 7,164 SF
    For Sale
    View listing
    $995,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6098455
    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

    • Commercial real estate

    Property Details for 1030 Elmwood Ave

    Year built
    1900
    Property size
    7,164 SF
    Property type
    Commercial real estate

    Description

    This exceptional six-unit apartment building, located at 1030 Elmwood Avenue in Buffalo, New York, presents a compelling investment opportunity. Built in 1900 and completely renovated to like-new condition, this property boasts 7,164 square feet of living space. The building comprises four spacious three-bedroom units and two comfortable two-bedroom units, each featuring thoughtfully designed floor plans. Residents enjoy the convenience of high-efficiency central air conditioning and heating systems, energy-rated appliances, and separate utilities. Off-street parking is provided for added convenience. Safety features include a comprehensive fire suppression system. Recent upgrades include a new roof and balconies, ensuring long-term value and minimal maintenance needs. The property's enviable location in Buffalo's Elmwood Village places it within easy reach of Bidwell Park, SUNY Buffalo State University, a variety of shopping options, and major expressways, making it highly attractive to tenants. The asking price for this turnkey investment is $995,000. This meticulously maintained property offers a strong return on investment and a rare opportunity to acquire a well-positioned multifamily asset in a thriving urban neighborhood. The exceptional quality of the renovations and the desirable location combine to create a truly exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.87703892
    Latitude
    42.92518921

    Comparable in this City

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      Elmwood Village Mixed-Use Investment

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    • $995,000
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      Renovated Apartment Building in Elmwood Village

      Renovated 6-unit apartment building near Bidwell Park and SUNY.
      1030 Elmwood Ave, Buffalo, NY 14222
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    • $689,999
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      Elmwood Village Multifamily Investment

      Well-maintained 5-unit property in prime Elmwood Village location.
      467 Norwood Ave, Buffalo, NY 14222
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    • $499,999
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      Updated Duplex with Rental Income

      Remodeled duplex in prime location with strong rental income.
      637 W Delavan Ave, Buffalo, NY 14222
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    • $599,000

      Well-Maintained Four-Unit Multifamily Property

      Four-unit property with updates, separate utilities, and income potential.
      619 Elmwood Ave, Buffalo, NY 14222
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    • $599,000
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      Elmwood Village Multifamily Investment

      Well-maintained 4-unit property in prime Elmwood location.
      619 Elmwood Ave, Buffalo, NY 14222
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    Similar Nearby for Sale

    • $495,000
      4,746 SF

      Elmwood Village Mixed-Use Investment

      Mixed-use property in Buffalo's desirable Elmwood Village. Strong rental demand.
      1094 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $995,000
      7,164 SF

      Renovated Apartment Building in Elmwood Village

      Renovated 6-unit apartment building near Bidwell Park and SUNY.
      1030 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $689,999
      6,093 SF

      Elmwood Village Multifamily Investment

      Well-maintained 5-unit property in prime Elmwood Village location.
      467 Norwood Ave, Buffalo, NY 14222
      View Details
    • $499,999
      3,020 SF

      Updated Duplex with Rental Income

      Remodeled duplex in prime location with strong rental income.
      637 W Delavan Ave, Buffalo, NY 14222
      View Details
    • $599,000

      Well-Maintained Four-Unit Multifamily Property

      Four-unit property with updates, separate utilities, and income potential.
      619 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $599,000
      4,395 SF

      Elmwood Village Multifamily Investment

      Well-maintained 4-unit property in prime Elmwood location.
      619 Elmwood Ave, Buffalo, NY 14222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Elmwood Village Mixed-Use Building

      20,000 SF mixed-use building in Elmwood Village, Buffalo, NY.
      448 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $2,100 /Mo
      1,050 SF

      Prime Commercial Space on Elmwood

      High-traffic Buffalo location ideal for retail, office, or service-based operations.
      515 Elmwood Ave, Buffalo, NY 14222
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    • $15 SF/Yr
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      Elmwood Avenue Second Floor Office

      Second floor office space in desirable Elmwood Avenue location.
      423 Elmwood Ave, Buffalo, NY 14222
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      Prime Elmwood Ave Executive Office

      1,200 SF Office Suite Available Now
      423 Elmwood Ave, Buffalo, NY 14222
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    • $2,500 /Mo
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      Elmwood Avenue Commercial Space

      Prime commercial space in high-traffic Buffalo business corridor, available 2026.
      513 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $26 SF/Yr
      1,000 SF

      Elmwood Village Retail Space

      1000 SF Retail/Office, Prime Location
      220 Lexington Ave, Buffalo, NY 14222
      View Details
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    1030 Elmwood Ave
    Buffalo, NY 14222
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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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