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

    208 Lovering Ave Buffalo, NY 14216

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1677844
    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

    • Commercial real estate

    Property Details for 208 Lovering Ave

    Property type
    Commercial real estate

    Description

    This stately North Buffalo double offers a fantastic investment opportunity at $389,900. Situated on a desirable lot with a two-car garage, this property boasts low-maintenance exteriors and separate entrances for its two bright and spacious apartments. Each unit features large living rooms opening to formal dining rooms, showcasing original plaster walls, ceilings, moldings, and woodwork, complemented by grand fireplaces and updated windows. The first-floor owner's unit includes refinished oak hardwood floors and an updated kitchen equipped with wood cabinets, counters, and high-quality appliances. Both units offer three generously sized bedrooms with ample closet space. The lower unit features a newer bathroom with high-quality tile and fixtures. A significant advantage is the easily developed attic space, offering potential for expansion or additional living area. The clean stone basement includes glass block windows and separate, modern hot water heating systems, along with substantial electric panel updates. This property presents a rare blend of classic charm and modern updates, making it an ideal investment for discerning buyers seeking a strong return in a prime Buffalo location. The property is located at 208 Lovering Avenue, Buffalo, NY 14216. The square footage is currently unavailable.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    36029
    State
    New York
    Longitude
    -78.8635155
    Latitude
    42.9535475

    Comparable in this City

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      9-unit mixed-use building with storefronts and apartments in prime location.
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      Mixed-Use Building on Hertel Avenue

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      Prime Buffalo Warehouse - $3.3M

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      Gas Station & Convenience Store Opportunity

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      Colvin Ave Auto Shop - Buffalo, NY

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    Similar Nearby for Sale

    • $969,000
      6,930 SF

      Mixed-Use Gem in North Buffalo

      All-brick mixed-use property with retail and apartments in vibrant location.
      1537 Hertel Ave, Buffalo, NY 14216
      View Details
    • $950,000
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      Mixed-Use Building in Hertel Business District

      9-unit mixed-use building with storefronts and apartments in prime location.
      1661 Hertel Ave, Buffalo, NY 14216
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    • $695,000
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      Mixed-Use Building on Hertel Avenue

      Mixed-use building with storefronts and apartments near Dash's grocery.
      1781 Hertel Ave, Buffalo, NY 14216
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    • $3,300,000
      19,000 SF

      Prime Buffalo Warehouse - $3.3M

      Historic Industrial Building, 19,000 SF
      3208 Main St, Buffalo, NY 14216
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    • $495,000
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      Gas Station & Convenience Store Opportunity

      Buffalo, NY - Prime Location, Vacant
      524 Hinman Ave, Buffalo, NY 14216
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    • $450,000
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      Colvin Ave Auto Shop - Buffalo, NY

      Prime Auto Shop, 1196 sq ft, High Traffic Area
      625 Colvin Ave, Buffalo, NY 14216
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    Similar Nearby for Lease

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      88,620 SF

      North Buffalo Retail Development Opportunity

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      Vibrant Retail Space on Hertel

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      Delaware Ave Retail Space

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      North Buffalo Office/Storage Space

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    208 Lovering Ave
    Buffalo, NY 14216
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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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