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    Property profile & analytics

    1991 Seneca St Buffalo, NY 14210

    • Grocery and convenience stores
    • 16,686 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Apr 25, 2024
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1770981
    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

    • Grocery and convenience stores

    Property Details for 1991 Seneca St

    Year built
    1945
    Lot size
    0.73 lot acres
    Property size
    16,686 SF
    Zone code
    N-3C
    Property type
    Grocery and convenience stores
    APN
    140200 123.81-1-14.1
    APU
    140200123811141

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $379,000
      Market price range: $312k - $969k

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8122
    Latitude
    42.8569
    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
    $6,392
    $71,000
    $954,000
    $1,025,000
    -
    $101,429
    $1,362,857
    $1,464,286

    Comparable in this City

    • Value Estimation by Request
      3,840 SF

      618 Clinton St

      Individual retail properties • 3,840 SF
      618 Clinton St, Buffalo, NY 14210
      View Details
    • Value Estimation
      $285,000
      6,840 SF

      2131 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 6,840 SF
      2131 Seneca St, Buffalo, NY 14210-2364
      View Details
    • Value Estimation
      $305,000
      11,201 SF

      1941 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 11,201 SF
      1941 Seneca St, Buffalo, NY 14210-2310
      View Details
    • Value Estimation
      $215,000
      3,800 SF

      2221 Seneca St

      FINANCIAL BUILDING • 3,800 SF
      2221 Seneca St, Buffalo, NY 14210-2414
      View Details
    • Value Estimation
      $300,000
      7,200 SF

      1503 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      1503 Seneca St, Buffalo, NY 14210-1729
      View Details
    • Value Estimation
      $270,000
      2,700 SF

      2202 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      2202 Seneca St, Buffalo, NY 14210-2435
      View Details

    Similar Nearby for Sale

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      Prime Buffalo Retail Opportunity

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    • $249,900
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      Mixed-Use Investment Property Available

      Tenant-occupied mixed-use property with storefront and apartments, offering income potential.
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      Mixed-Use Property with Retail

      Mixed-use building featuring retail space and residential units.
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      Updated Mixed-Use Property Near Park

      Updated mixed-use property with storefronts and apartments near Cazenovia Park.
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      Dollar General For Sale

      Dollar General For Sale
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      Retail property with parking near downtown Buffalo, ready for build-out.
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    Similar Nearby for Lease

    • $12 SF/Yr
      4,000 SF

      Retail Space on Seneca Street

      4000 SF retail space available for lease.
      1942-1952 Seneca St, Buffalo, NY 14210
      View Details
    • Contact for pricing
      840 SF

      Retail Space on Seneca Street

      840 sq ft retail space in South Buffalo.
      2178 Seneca St, Buffalo, NY 14210
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail Space on Seneca Street

      1500 SF retail space available for rent.
      2322 Seneca St, Buffalo, NY 14210
      View Details
    • $12 SF/Yr
      3,000 SF

      Retail Space on Seneca Street

      Retail space available on highly traveled Seneca Street.
      2342 Seneca St, Buffalo, NY 14210
      View Details
    • $3,000 /Mo
      2,438 SF

      Former Automotive Repair Shop Available

      Corner lot automotive repair building for lease in Buffalo.
      2510 Seneca St, Buffalo, NY 14210
      View Details
    • Contact for pricing
      3,013 SF

      Buffalo Warehouse with Mezzanine Office

      3,013 SF warehouse with office and convenient location.
      224 Elk St, Buffalo, NY 14210
      View Details
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    1991 Seneca St
    Buffalo, NY 14210
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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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