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

    1556 Hertel Ave Buffalo, NY 14216-2806

    • Retail space
    • 13,550 SF
    • 1.14 lot acres
    OFF-MARKET
    Value Estimations
    $1,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3206875
    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

    • Redbox / Movie Rental Kiosk / Dvd Store
    • Walgreens Pharmacy / Pharmacy
    • Walgreens Photo / Passport Photo Processor / Photo Lab
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • FedEx OnSite / Mailing Service

    Property Details for 1556 Hertel Ave

    Year built
    1995
    Lot size
    1.14 lot acres
    Property size
    13,550 SF
    Zone code
    N-3C
    Property type
    Retail space
    APN
    140200 78.66-5-11.1
    APU
    14020078665111

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,200,000
      6.5%
      $2,030,000
      7%
      $1,885,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,945,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,760,000
      Change: -10% Conversion: Moderate
      RESTAURANT
      $1,680,000
      Change: -14% Conversion: Easy
      OFFICE BUILDING
      $1,570,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8505
    Latitude
    42.948
    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
    2023
    $15,071
    $421,900
    $2,478,100
    $2,900,000
    -
    $602,714
    $3,540,143
    $4,142,857

    Comparable in this City

    • Value Estimation
      $725,000
      8,093 SF

      2155 Delaware Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,093 SF
      2155 Delaware Ave, Buffalo, NY 14216-3211
      View Details
    • Value Estimation
      $2,475,000
      33,606 SF

      86 Botsford Pl

      RETAIL STORES (PERSONAL SERVICES) • 33,606 SF
      86 Botsford Pl, Buffalo, NY 14216-2602
      View Details
    • Value Estimation
      $1,175,000
      14,881 SF

      1678 Hertel Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,881 SF
      1678 Hertel Ave, Buffalo, NY 14216-2902
      View Details
    • Value Estimation
      $995,000
      9,100 SF

      1700 Kenmore Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      1700 Kenmore Ave, Buffalo, NY 14216-1023
      View Details
    • Value Estimation by Request
      6,000 SF

      2658 Delaware Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2658 Delaware Ave, Buffalo, NY 14216-1147
      View Details
    • Value Estimation
      $580,000
      6,732 SF

      1336 Hertel Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,732 SF
      1336 Hertel Ave, Buffalo, NY 14216-2833
      View Details

    Similar Nearby for Sale

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      Well-Maintained Building Near Hertel Ave

      Updated building near Hertel Ave, suitable for retail or office.
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    • $680,000

      Commercial Building with Apartment

      Commercial building with apartment and parking in great location.
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      Mixed-Use Gem in North Buffalo

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      Delaware Avenue Restaurant Opportunity

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      North Buffalo Warehouse with Showroom

      Warehouse with showroom/retail space in North Buffalo near Military Road.
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    • $950,000
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      Mixed-Use Building in Hertel Business District

      9-unit mixed-use building with storefronts and apartments in prime location.
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    Similar Nearby for Lease

    • Contact for pricing
      88,620 SF

      North Buffalo Retail Development Opportunity

      Retail space for sublease in a densely populated area.
      1025 Hertel Ave, Buffalo, NY 14216
      View Details
    • $2,000 /Mo
      1,200 SF

      Vibrant Retail Space on Hertel

      Street retail space in a popular, vibrant neighborhood.
      1487 Hertel Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing
      88,620 SF

      Hertel Ave Retail Space - Buffalo, NY

      Prime Buffalo Retail Outparcel, 88,620 SF
      1025 Hertel Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing

      Elmwood Avenue Retail Pad Opportunity

      Retail pad site available for ground lease or build-to-suit.
      2222 Elmwood Ave, Buffalo, NY 14216
      View Details
    • $14 SF/Yr
      10,272 SF

      Corner Suite on Hertel Avenue

      Corner suite available for immediate occupancy in a thriving area.
      1569 Hertel Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing
      2,400 SF

      Kenmore Avenue Retail/Office Space

      2400 SF retail/office space available for lease immediately.
      750 Kenmore Ave, Buffalo, NY 14216
      View Details
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    1556 Hertel Ave
    Buffalo, NY 14216-2806
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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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