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    Property profile & analytics

    1885 Harlem Rd Buffalo, NY 14212

    • Industrial properties
    • 67,224 SF
    • 3.36 lot acres
    For Lease
    View listing
    $6 SF/Yr
    Last Sale
    Jun 20, 2023
    $2,350,000
    Value Estimations
    $2,455,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6033909
    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

    • Great Lakes Paper Fibres Corporation / Recycling Center

    Property Details for 1885 Harlem Rd

    Year built
    1960
    Lot size
    3.36 lot acres
    Property size
    67,224 SF
    Zone code
    05C
    Property type
    Industrial properties
    APN
    143089 113.01-1-17.111
    APU
    14308911301117111

    Description

    This exceptional Class A industrial property, located at 1885 Harlem Rd in Buffalo, NY 14212, offers 67,224 square feet of versatile space ideal for a variety of uses. Completely renovated in 2023, including a new roof and exterior, this single-tenant building is immediately available. The property boasts a 20-foot ceiling height, providing ample vertical storage capacity. Efficient operations are ensured with six loading docks and ten dock-high doors, complemented by three drive-in doors. The expansive 3.36 acres of land offer significant outdoor storage or maneuvering space. The property is zoned for industrial use and features an on-site scale, adding to its operational convenience. This move-in ready warehouse is perfectly suited for warehousing, storage, distribution, manufacturing, or flex operations. Its strategic location in Buffalo, NY, provides excellent access to major transportation routes. Don't miss this opportunity to secure a high-quality, newly renovated industrial space in a prime location. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,370,000
      ML approach
      $2,495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,089,000
      Market price range: $856k - $3.21M
      AI Estimate
      $2,709,000
      Market price range: $761k - $2.71M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,860,000
      Current use
      WAREHOUSE, STORAGE
      $3,755,000
      Change: +102% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,515,000
      Change: +35% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7834
    Latitude
    42.8951
    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
    $0.00
    $190,000
    $1,510,000
    $1,700,000
    -
    $208,791
    $1,659,341
    $1,868,132

    Comparable in this City

    • Value Estimation
      $3,590,000
      70,627 SF

      1849 Harlem Rd

      INDUSTRIAL (GENERAL) • 70,627 SF
      1849 Harlem Rd, Buffalo, NY 14212-2401
      View Details
    • Value Estimation by Request
      25,000 SF

      1800 Broadway St

      Manufacturing properties • 25,000 SF
      1800 Broadway St, Buffalo, NY 14212
      View Details
    • Value Estimation
      $525,000
      21,859 SF

      2371 Broadway St

      INDUSTRIAL (GENERAL) • 21,859 SF
      2371 Broadway St, Buffalo, NY 14212-2313
      View Details
    • Value Estimation by Request
      0.06 Acres

      1251 Broadway St

      INDUSTRIAL (GENERAL) • 0.06 Acres
      1251 Broadway St, Buffalo, NY 14212
      View Details
    • Value Estimation
      $680,000
      12,417 SF

      1979 Harlem Rd

      INDUSTRIAL (GENERAL) • 12,417 SF
      1979 Harlem Rd, Buffalo, NY 14212-2410
      View Details
    • Value Estimation by Request
      3,750 SF

      1128 Broadway St

      MANUFACTURING (LIGHT) • 3,750 SF
      1128 Broadway St, Buffalo, NY 14212
      View Details

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    Similar Nearby for Lease

    • $1,000 /Mo
      46,400 SF

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      Warehouse space ideal for storage, distribution, or manufacturing.
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    • $6 SF/Yr
      2,500 SF

      Warehouse with Office Space

      65,000+/- SF warehouse with 2,500+/- SF office space.
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      View Details
    • $7 SF/Yr

      Harlem Road Warehouse and Office

      64,000 SF warehouse with office space for lease.
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      View Details
    • Contact for pricing
      10,400 SF

      975 Broadway Warehouse - Buffalo, NY

      Spacious Warehouse, Prime Location, 10,400 SF
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      View Details
    • $5 SF/Yr
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      Food-Grade Industrial Facility Available

      Well-equipped industrial facility ideal for manufacturing, warehousing, or food processing.
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    • Contact for pricing
      1 SF

      Prime Buffalo Executive Office Space

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      View Details
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    1885 Harlem Rd
    Buffalo, NY 14212
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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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