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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1966 Park Ave Buffalo, NY 14220-1849

    • Investment properties
    • 2,176 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Nov 30, 2023
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    9.8%
    Investment properties
    Location Intelligence
    Property ID
    US63-2850797
    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 1966 Park Ave

    Year built
    1920
    Lot size
    0.05 lot acres
    Property size
    2,176 SF
    Zone code
    N-3C
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    140200 133.47-3-44
    APU
    14020013347344

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $390,000
      6.5%
      $360,000
      7%
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $159,000
      Market price range: $122k - $240k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $155,000
      Current use
      RETAIL STORES
      $315,000
      Change: +100% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $280,000
      Change: +80% Conversion: Difficult
      OFFICE BUILDING
      $250,000
      Change: +61% Conversion: Easy
      AUTO REPAIR, GARAGE
      $210,000
      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
    -78.8235
    Latitude
    42.8452
    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
    $359
    $4,900
    $64,100
    $69,000
    -
    $7,000
    $91,571
    $98,571

    Comparable in this City

    • Value Estimation
      $210,000
      4,046 SF

      2119 Park Ave

      STORE/OFFICE (MIXED USE) • 4,046 SF
      2119 Park Ave, Buffalo, NY 14220-2215
      View Details
    • Value Estimation
      $220,000
      1,200 SF

      1799 Park Ave

      STORE/OFFICE (MIXED USE) • 1,200 SF
      1799 Park Ave, Buffalo, NY 14220-1511
      View Details
    • Value Estimation
      $235,000
      3,000 SF

      325 Abbott Rd

      STORE/OFFICE (MIXED USE) • 3,000 SF
      325 Abbott Rd, Buffalo, NY 14220-1639
      View Details
    • Value Estimation
      $100,000
      3,800 SF

      817 Abbott Rd

      STORE/OFFICE (MIXED USE) • 3,800 SF
      817 Abbott Rd, Buffalo, NY 14220-2056
      View Details
    • Value Estimation
      $265,000
      7,381 SF

      2034 Park Ave

      STORE/OFFICE (MIXED USE) • 7,381 SF
      2034 Park Ave, Buffalo, NY 14220-1856
      View Details
    • Value Estimation
      $310,000
      3,804 SF

      2163 Park Ave

      STORE/OFFICE (MIXED USE) • 3,804 SF
      2163 Park Ave, Buffalo, NY 14220-2229
      View Details

    Similar Nearby for Sale

    • New
      $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
    • $299,900
      3,176 SF

      Mixed-Use Property with Commercial Space

      Mixed-use property featuring apartments and commercial space in Buffalo, NY.
      129 Abbott Rd, Buffalo, NY 14220
      View Details
    • $299,900
      3,176 SF

      Mixed-Use Property with Commercial Space

      Mixed-use property featuring two apartments and commercial space.
      129 Abbott Rd, Buffalo, NY 14220
      View Details
    • $249,900
      Pending

      South Buffalo Move-In Ready Duplex

      Remodeled duplex near Cazenovia Park, ideal for homeowners or investors.
      389 Cumberland Ave, Buffalo, NY 14220
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Updated Medical Space on Abbott

      Updated medical space in South Buffalo's business district.
      306 Abbott Rd, Buffalo, NY 14220
      View Details
    • Contact for pricing

      Former Restaurant Space For Lease

      Restaurant space available for lease on McKinley Mall ring road.
      1000 Mckinley Pkwy, 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
    • $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
    • $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
    • $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
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    1966 Park Ave
    Buffalo, NY 14220-1849
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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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