Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1586 Park Ave Buffalo, NY 14220

    • Investment properties
    • 2,954 SF
    • 0.11 lot acres
    For Sale
    View listing
    $339,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5918854
    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

    • Investment properties

    Property Details for 1586 Park Ave

    Year built
    1935
    Lot size
    0.11 lot acres
    Property size
    2,954 SF
    Zone code
    N-3E
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    140200 123.78-5-14
    APU
    14020012378514

    Description

    This exceptional investment opportunity in Buffalo, NY presents a versatile commercial property at 1586 S Park Ave, spanning 4,329 square feet on a 0.11-acre lot. The main level boasts a fully equipped restaurant, currently not in operation but primed for immediate relaunch. The kitchen is complete and ready for use, and two restrooms are conveniently located for customer and staff use. This presents a significant advantage for a new owner, eliminating the substantial costs and time associated with building out a commercial kitchen. The property's potential extends beyond the restaurant space. Upstairs, a spacious four-bedroom apartment offers additional income potential through rental or owner occupancy. Recent upgrades significantly enhance the property's value and operational efficiency. These improvements include a brand-new furnace, hot water tank, complete electrical system overhaul, and a new electrical panel, ensuring reliable and cost-effective operation for years to come. The property's location in Buffalo offers excellent access to local amenities and a strong potential customer base. This is a rare opportunity to acquire a turnkey restaurant and apartment building with significant upside potential. The asking price is $339,900. Don't miss this chance to own a piece of Buffalo's vibrant commercial landscape.

    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
    -78.8274
    Latitude
    42.8552
    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
    $837
    $9,400
    $151,600
    $161,000
    -
    $13,429
    $216,571
    $230,000

    Comparable in this City

    • Value Estimation by Request
      2,536 SF

      733 Tifft St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,536 SF
      733 Tifft St, Buffalo, NY 14220-1814
      View Details
    • Value Estimation by Request
      2,398 SF

      289 Southside Pkwy

      OFFICE/RESIDENTIAL (MIXED USE) • 2,398 SF
      289 Southside Pkwy, Buffalo, NY 14220-1090
      View Details
    • Value Estimation by Request
      1,786 SF

      2191 Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,786 SF
      2191 Park Ave, Buffalo, NY 14220-2231
      View Details
    • Value Estimation by Request
      3,394 SF

      1575 Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,394 SF
      1575 Park Ave, Buffalo, NY 14220-1251
      View Details
    • Value Estimation by Request
      3,134 SF

      904 Abbott Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,134 SF
      904 Abbott Rd, Buffalo, NY 14220-2436
      View Details
    • Value Estimation by Request
      4,439 SF

      2255 Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,439 SF
      2255 Park Ave, Buffalo, NY 14220-2676
      View Details

    Similar Nearby for Sale

    • $150,000
      Pending

      Mixed-Use Building in South Buffalo

      Over 16,000 SF building ideal for mixed-use or apartments.
      814 Abbott Rd, Buffalo, NY 14220
      View Details
    • $325,000
      0.35 Acres

      McKinley Parkway Redevelopment Opportunity

      South Buffalo commercial lot, high traffic.
      1005 Mckinley Pkwy, Buffalo, NY 14220
      View Details
    • $479,900

      Remodeled Mixed-Use Building Near Downtown

      Mixed-use building with commercial space and two apartments, fully remodeled.
      85 Abbott Rd, Buffalo, NY 14220
      View Details
    • $325,000
      2,700 SF

      Abbott Road Retail Opportunity

      South Buffalo Commercial Property: High Traffic Location
      1002 Abbott Rd, Buffalo, NY 14220
      View Details
    • $600,000
      8,534 SF

      South Buffalo Retail Space

      Prime Location, High Visibility, 8,534+ SF
      2036 Park Ave, Buffalo, NY 14220
      View Details
    • Contact for pricing
      5,666 SF

      South Buffalo Retail/Office/Medical Space

      5,666 SF retail, medical, or office space in Buffalo.
      184 Abbott Rd, Buffalo, NY 14220
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      2,220 SF

      Retail Space in Corner Location

      2,200+/- SF retail space with parking and signage.
      2221-2249 S Park Ave, Buffalo, NY 14220
      View Details
    • $750,000
      19,360 SF

      South Buffalo Manufacturing Facility For Rent

      Two-story manufacturing facility on a large 3.1-acre lot.
      119 Colgate Ave, Buffalo, NY 14220
      View Details
    • Contact for pricing
      2,902 SF

      Freestanding Retail Building on Corner

      Highly visible corner retail building with open floor plan.
      2198 S Park Ave, Buffalo, NY 14220
      View Details
    • $11 SF/Yr

      South Buffalo Retail Space Available

      2,200 +/- SF retail space in South Buffalo.
      2227 S Park Ave, Buffalo, NY 14220
      View Details
    • $7 SF/Yr
      19,360 SF

      South Buffalo Manufacturing Facility For Rent

      Two-story, 19,360 SF manufacturing facility on 3.1-acre lot.
      113 Colgate Ave, Buffalo, NY 14220
      View Details
    • $200,000

      Vacant Commercial Lot Available

      Vacant commercial lot for sale or lease in Buffalo.
      961 Mckinley Pkwy, Buffalo, NY 14220
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1586 Park Ave
    Buffalo, NY 14220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.