Property profile & analytics
1625 Broadway St Buffalo, NY 14212-2042
- Retail space
- 13,207 SF
- 1.90 lot acres
OFF-MARKET
Last Sale
Sep 21, 2023
Sep 21, 2023
$2,000,000
Value Estimations
$2,000,000
Show details
Cap Rate Potential
6.4%
Retail space
Location Intelligence
Property ID
US63-3145243
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
- Rite Aid Photo / (Bike/Boat/Book/etc) Store
- Western Union / Bank / Credit Union
- higi / Physician
- Nichole Sperrazzo / Pharmacy
- Brienne Nichols / Pharmacy
Property Details for 1625 Broadway St
- Year built
- 2000
- Lot size
- 1.90 lot acres
- Property size
- 13,207 SF
- Zone code
- D-S
- Property type
- Retail space
- APN
- 140200 112.24-7-26.11
- APU
- 1402001122472611
Description
This exceptional 13,207-square-foot medical office building presents a rare opportunity in Buffalo, NY. Located at the highly visible corner of Broadway and Bailey Avenue, this single-tenant property boasts a prime location at a signalized intersection, ensuring maximum exposure. Built in 2000, the one-story building sits on a spacious 1.9-acre lot and offers ample parking with 69 spaces. Its former use as a Rite Aid provides a readily adaptable layout for various medical practices. The property's convenient location is just three miles from downtown Buffalo and enjoys proximity to key amenities. These include the historic Broadway Market, Family Dollar, Aaron's Furniture, and a large business park, all within close proximity. Furthermore, it is surrounded by a densely populated residential area, providing a strong potential patient base. The building features drive-through access, adding to its operational efficiency and convenience. This turnkey property is ideal for medical professionals seeking a well-established and highly visible location to establish or expand their practice. The significant parking capacity and convenient access points make this an attractive option for patients and staff alike. This is a truly exceptional opportunity to acquire a well-situated and functional medical office building in a thriving area of Buffalo.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,015,000
- ML approach
- $2,065,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,145,000
- 6.5%
- $1,980,000
- 7%
- $1,840,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,571,000
Market price range: $836k - $3.18M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,895,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,715,000 Change: -10% Conversion: Moderate
- RESTAURANT
- $1,635,000 Change: -14% Conversion: Easy
- OFFICE BUILDING
- $1,530,000 Change: -19% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8148
- Latitude
- 42.8963
- 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
$14,707
$51,600
$1,548,400
$1,600,000
-
$73,714
$2,212,000
$2,285,714
