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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Office buildings
1231 Delaware Ave Buffalo, NY 14209-1442
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-5979742
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Total area
7,344 SF
Lot
0.46 ac (20,240 SF)
Zoning code
N-2R
APN
140200 100.31-1-34
UPID
US63-5979742
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lewis L. Schwartz, PLLC Law Firm
-
Explore What's Next Psychotherapist
-
Kirisits & Associates Cpas Pllc: Kirisits Lisa M CPA Accounting Firm
-
Kirisits & Associates CPAs, PLLC Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$960k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$854k
Blend (final)
Blend
$940k
Owner & transaction history
1231 Seneca LLC · 3 yrs held
1231 Seneca LLC
since 2022
Last sale
$925,000
3 recorded transactions
Zoning & alternative use
N-2R · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+23.8%
Neighborhood: shopping center
$955,000
+11.9%
Restaurant
$910,000
+6.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Buffalo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Buffalo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$950,000
ML approach
$960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$850,000
Current use
RETAIL STORES
$1,055,000
Change: +24% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$955,000
Change: +12% · Conversion: Difficult
RESTAURANT
$910,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$715,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $925k (Oct 27 2022)
Last sale anchor
$925k
Oct 27 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$128 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,547
Tax year 2023
Assessed value
$710,000
Assessed 2023
Previous assessed
$875,000
-18.9% YoY
Effective rate
0.64%
On assessed value
Assessed land
$200,400
Assessed improvement
$509,600
Land market value
$286,286
Improvement market value
$728,000
Total market value
$1,014,286
Applied tax rate
140,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1960
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
7,344 SF
Lot
0.46 ac (20,240 SF)
Zoning code
N-2R
APN
140200 100.31-1-34
UPID
US63-5979742
Jurisdiction
ERIE
Zoning & alternative use
N-2R · Buffalo, NY
Zoning N-2R · permitted uses
N-2R · Buffalo, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Buffalo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$850,000
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$955,000
RESTAURANT
Est. value
$910,000
AUTO REPAIR, GARAGE
Est. value
$715,000
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
1231 Seneca LLC
Entity
Mailing address
140 NN ST, BUFFALO, NY 14201-1519
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2022
$925,000
1231 Seneca LLC
Plaza Group 159 LLC
Bargain And Sale Deed
$814,000 · Plaza Group 159 LLC
Dec 7, 2015
—
Plaza Group 159 LLC
Plaza One Group INC
Quit Claim Deed
related
—
Nov 22, 2005
$455,000
Plaza One Group INC
Tpt Investments
Grant Deed
$350,000 · Northwest Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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