Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    185 Ellicott St Buffalo, NY 14203
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    185 Ellicott St Buffalo, NY 14203

    View on Map
    • Distribution properties
    • 106,412 SF
    • 2.25 lot acres
    Off-Market
    Property ID
    US63-3462910
    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.
    Value Estimations
    $2,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distribution properties

    Property Details for 185 Ellicott St

    Year built
    1977
    Lot size
    2.25 lot acres
    Property size
    106,412 SF
    Zone code
    N-1C
    Property type
    Distribution properties
    APN
    140200 111.13-18-1
    APU
    14020011113181

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      TRUCK TERMINAL (MOTOR FREIGHT)
      $2,455,000
      Current use
      RETAIL STORES
      $3,525,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $3,100,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $2,350,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.872
    Latitude
    42.8834
    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
    2019
    $251,748
    $1,079,300
    $4,820,700
    $5,900,000
    -
    $1,541,857
    $6,886,714
    $8,428,571

    Comparable in this City

    • Value Estimation
      $3,280,000
      151,371 SF

      929 Main St

      BUS TERMINAL • 151,371 SF
      929 Main St, Buffalo, NY 14203
      View Details
    • Value Estimation
      $4,670,000
      286,674 SF

      15 Main St

      BUS TERMINAL • 286,674 SF
      15 Main St, Buffalo, NY 14203
      View Details
    • Value Estimation by Request
      5,654 SF

      328 Oak St

      WAREHOUSE, STORAGE • 5,654 SF
      328 Oak St, Buffalo, NY 14203
      View Details
    • Value Estimation
      $3,875,000
      309,700 SF

      8 City Ship Canal

      MANUFACTURING (LIGHT) • 309,700 SF
      8 City Ship Canal, Buffalo, NY 14203
      View Details
    • Value Estimation
      $635,000
      19,080 SF

      656 Michigan Ave

      WAREHOUSE, STORAGE • 19,080 SF
      656 Michigan Ave, Buffalo, NY 14203
      View Details
    • Value Estimation
      $940,000
      12,560 SF

      118 Michigan Ave

      WAREHOUSE, STORAGE • 12,560 SF
      118 Michigan Ave, Buffalo, NY 14203
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,289 SF

      Downtown Corner Building with Parking

      Mixed-use building with on-site parking in downtown Buffalo.
      703 Washington St, Buffalo, NY 14203
      View Details
    • Contact for pricing

      Multi-Tenant Warehouse and Office Space

      29,075 SF multi-tenant warehouse and office with expansion potential.
      327 Elm St, Buffalo, NY 14203
      View Details
    • $1,500,000

      Downtown Buffalo Office/Warehouse Building

      Renovated office building with warehouse and gated parking.
      119 Broadway St, Buffalo, NY 14203
      View Details
    • $1,999,000
      27,712 SF

      Two-Story Garage/Warehouse Building For Sale

      Two-story garage/warehouse building with parking lot available for purchase.
      821 Main St, Buffalo, NY 14203
      View Details
    • $250,000

      Redevelopment Opportunity Near KeyBank Center

      Prime redevelopment opportunity near downtown Buffalo and sports venues.
      138-140 Seneca St, Buffalo, NY 14203
      View Details
    • $790,000

      Downtown Mixed-Use Development Opportunity

      Mixed-use building with parking lot in Opportunity Zone.
      158-162 Swan St, Buffalo, NY 14203
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      NY, Buffalo - Washington Street

      Flexible workspace in FL, Palm Coast - Palm Coast Parkway
      369 Washington St, Buffalo, NY 14203
      View Details
    • $15 SF/Yr
      151,938 SF

      Buffalo Office Space For Rent

      Available office space in a professional building near medical corridor.
      921 Main St, Buffalo, NY 14203
      View Details
    • Contact for pricing

      Historic Brisbane Building Retail/Office Space

      Handsomely appointed office suites and retail space in historic building.
      403 Main St, Buffalo, NY 14203
      View Details
    • Contact for pricing

      Historic Retail Space in Buffalo

      15,760 SF retail space in the Historic Brisbane Building.
      403 Main Street-102-Gr, Buffalo, NY 14203
      View Details
    • Contact for pricing
      651 SF

      Move-in Ready Office Space

      Office space in a highly-desired area near shops and restaurants.
      8205 Main St, Buffalo, NY 14203
      View Details
    • $1,950 /Mo

      Office Space with 24-Hour Security

      Office space with private offices, conference room, and 24-hour security.
      79 Perry St, Buffalo, NY 14203
      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.
    185 Ellicott St
    Buffalo, NY 14203
    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.
    Sign Up Successful!
    You now have access to more from Realmo!