1120 Youngs Rd Buffalo, NY 14221
- Office buildings
- 7,210 SF
- 0.78 lot acres
Current Use by Public Records
- Dr. Daniel I. Rifkin, MD / Physician / Medical Clinic
- Levine Michele P / Physician / Medical Clinic
- Dr. Sandra A. Block, MD / Physician
- Dr. Ranime Saliba, MD / Physician
- Gauch Keryn E / Physician
Property Details for 1120 Youngs Rd
- Year built
- 2000
- Lot size
- 0.78 lot acres
- Property size
- 7,210 SF
- Property type
- Office buildings
- APN
- 142289 56.14-3-11.12
- APU
- 142289561431112
Description
This exceptional investment opportunity presents a fully leased, 7,210 square foot office building situated on a 0.78-acre lot in Buffalo, NY. The property, constructed in 2002 and renovated in 2022, boasts three distinct suites with private entries and ample parking (37 spaces). The building features a mix of lease types (Modified Gross and Net Net Net), with three tenants currently occupying the space at 100% occupancy. Suite 1 (3,500 sq ft) commands a monthly rent of $7,500 on a Modified Gross lease expiring October 1, 2024. Suite 2 (2,000 sq ft) rents for $3,500 per month on a Modified Gross lease expiring October 27, 2027. Suite 3 (1,500 sq ft), renovated in 2022, leases for $2,600 per month on a Net Net Net lease also expiring October 27, 2027. The property offers a compelling 7.27% cap rate with a Net Operating Income (NOI) of $105,455. The asking price is $1,450,000. This single-story building is zoned E-03 and presents a strong return on investment, ideal for an investor seeking a stable income stream or an owner-operator looking to occupy a portion of the space. The HVAC systems in Suites 1 and 2 were updated in 2021, and Suite 3's air conditioning was updated in 2012. The property is held under an LLC ownership and is offered for sale with a leaseback option.
Value Estimations
-
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,015,000 Current use
- COMMERCIAL (GENERAL)
- $1,105,000 Change: +9% Conversion: Easy
- RETAIL STORES
- $1,035,000 Change: +2% Conversion: Moderate
- NEIGHBORHOOD: SHOPPING CENTER
- $935,000 Change: -8% Conversion: Difficult
- RESTAURANT
- $895,000 Change: -12% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.7252
- Latitude
- 42.9945
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
