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    Property profile & analytics

    2055 Niagara Fls Blvd Buffalo, NY 14228-3537

    • Community centers
    • 125,018 SF
    • 26.40 lot acres
    OFF-MARKET
    Last Sale
    Mar 20, 2024
    $3,250
    Value Estimations
    $8,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2896206
    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

    • Asia Food Market / (Bike/Boat/Book/etc) Store / Grocery & Convenience Store
    • Mango Mango Dessert / Bakery / Take-out & Catering
    • Nickel Go-En Sushi / Take-out & Catering
    • Vogue Hair Salon / Hair Salon
    • Ren Management Group | Real Estate Services / Real Estate Agency

    Property Details for 2055 Niagara Fls Blvd

    Year built
    1994
    Lot size
    26.40 lot acres
    Property size
    125,018 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    142289 40.18-1-23.12
    APU
    142289401812312

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,502,000
      Market price range: $5.22M - $29.5M

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8188
    Latitude
    43.0094
    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
    $223,216
    $3,110,000
    $930,000
    $4,040,000
    -
    $5,016,129
    $1,500,000
    $6,516,129

    Comparable in this City

    • Value Estimation
      $2,935,000
      36,005 SF

      3055 Niagara Fls Blvd

      MINI-MALL • 36,005 SF
      3055 Niagara Fls Blvd, Buffalo, NY 14228
      View Details
    • Value Estimation
      $2,685,000
      23,728 SF

      200 Lee Entrance

      MINI-MALL • 23,728 SF
      200 Lee Entrance, Amherst, NY 14228-2574
      View Details
    • Value Estimation
      $10,625,000
      130,412 SF

      2065 Niagara Fls Blvd

      MINI-MALL • 130,412 SF
      2065 Niagara Fls Blvd, Buffalo, NY 14228-3518
      View Details
    • Value Estimation
      $8,645,000
      115,016 SF

      1459 Niagara Fls Blvd

      MINI-MALL • 115,016 SF
      1459 Niagara Fls Blvd, Buffalo, NY 14228-2791
      View Details
    • Value Estimation
      $4,445,000
      68,337 SF

      1460 French Rd

      MINI-MALL • 68,337 SF
      1460 French Rd, Buffalo, NY 14228-1909
      View Details
    • Value Estimation
      $12,635,000
      113,316 SF

      1641 Niagara Fls Blvd, Unit 1703

      REGIONAL SHOPPING CENTER, MALL • 113,316 SF
      1641 Niagara Fls Blvd, Buffalo, NY 14228-2704
      View Details

    Similar Nearby for Sale

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      Former Restaurant with Canal Access

      Two-story, 8,419 SF building with canal access for sale.
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    • $375,000
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      Turnkey Duplex in North Amherst

      Solid 3/3 duplex in demand North Amherst location.
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      2.3-Acre Development Site Available

      2.3-acre development site off Niagara Falls Blvd.
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    Similar Nearby for Lease

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      6,916 SF

      Retail Space in High-Traffic Area

      Retail space in a busy shopping center near University of Buffalo.
      3035 Niagara Falls Blvd, Buffalo, NY 14228
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      Niagara Falls Blvd Retail Space

      Retail or office space available on Niagara Falls Boulevard.
      2463 Niagara Falls Blvd, Amherst, NY 14228
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      Niagara Falls Boulevard Retail Spaces

      Retail and office spaces available on Niagara Falls Boulevard.
      2447 Niagara Falls Blvd, Amherst, NY 14228
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      Niagara Falls Boulevard Retail Space

      Retail or office spaces available on Niagara Falls Boulevard.
      2463 Niagara Falls Blvd, Buffalo, NY 14228
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      Turnkey Restaurant Space on Niagara

      Fully equipped restaurant space available for lease in Amherst, NY.
      2487 Niagara Falls Blvd, Buffalo, NY 14228
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      1,200 SF

      Retail/Office Space on Niagara Falls

      1,200 SF retail/office space with ample parking.
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      View Details
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    Buffalo, NY 14228-3537
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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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