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Property profile & analytics
OFF-MARKET Estimated value $2,710,000
Investment properties

1711 Main St Niagara Falls, NY 14305-2525

22,500 SF 0.4 ac lot Built 1931
Entity Owned 17-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US63-0001737
Property summary
AI-generated overview

This exceptional 27,914 square foot retail property, the Rapids Theater, is a thriving indoor concert venue and event center located at 1711 Main St, Niagara Falls, NY 14305. Built in 1921 and extensively renovated in 2009 with over $2,000,000 in improvements, this iconic venue boasts state-of-the-art lighting and sound systems. The theater's capacity is 1700, including a 150-person VIP area with a private wet bar. The main floor features an expanded stage, two side sections, an open dance floor, a maple wood bar, new flooring, and exceptional acoustics. The building also includes a large office with security, four green rooms, numerous restrooms, a large dry basement, and a spacious rear parking lot with loading doors behind the stage. All building contents, including walk-in coolers, ice machines, TVs, washer, dryer, and furniture, are included in the sale. The asking price for the real estate is $3,000,000. The business is available for separate purchase at $2,000,000. This turnkey operation presents a unique investment opportunity with significant potential. Financing options are available. The current owner is motivated to sell and will assist with a smooth transition. This is a remarkable opportunity to acquire a well-established and profitable entertainment destination in a prime Niagara Falls location, just minutes from the Canadian border.

Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1931
Total area 22,500 SF
Lot 0.4 ac (17,424 SF)
Zoning code C2-A
APN 291100 144.54-1-33
UPID US63-0001737
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
  • The Rapids Theatre Music Venue Bar & Pub
  • Rich's Catering & Special Events Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.74M
Blend (final) Blend
$2.71M
Owner & transaction history
1711 Main LLC · 17 yrs held
1711 Main LLC
since 2009
6 recorded transactions
2009
Price N/A
2007
$85,000
2007
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
C2-A · Niagara Falls, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $1.9M +8.6%
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