Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2116 Park Ave Buffalo, NY 14220-2243

    • Automotive properties
    • 2,044 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Mar 08, 2023
    $100,000
    Value Estimations
    $115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2723878
    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

    • Steve Stack's Auto Repair Services / Auto Repair Shop

    Property Details for 2116 Park Ave

    Year built
    1930
    Lot size
    0.20 lot acres
    Property size
    2,044 SF
    Zone code
    N-3E
    Property type
    Automotive properties
    APN
    140200 133.55-5-44
    APU
    14020013355544

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $100,000
      ML approach
      $85,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $163,000
      Market price range: $94.6k - $179k

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8234
    Latitude
    42.8411
    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
    $514
    $17,800
    $81,200
    $99,000
    -
    $25,429
    $116,000
    $141,429

    Comparable in this City

    • Value Estimation
      $275,000
      3,430 SF

      334 Abbott Rd

      VEHICLE SALES, RENTALS • 3,430 SF
      334 Abbott Rd, Buffalo, NY 14220-1640
      View Details
    • Value Estimation
      $305,000
      5,797 SF

      1001 Abbott Rd

      VEHICLE SALES, RENTALS • 5,797 SF
      1001 Abbott Rd, Buffalo, NY 14220-2419
      View Details
    • Value Estimation
      $245,000
      6,221 SF

      1180 Abbott Rd

      VEHICLE SALES, RENTALS • 6,221 SF
      1180 Abbott Rd, Buffalo, NY 14220-2702
      View Details
    • Value Estimation
      $230,000
      1,161 SF

      559 Potters Rd

      VEHICLE SALES, RENTALS • 1,161 SF
      559 Potters Rd, Buffalo, NY 14220-2542
      View Details
    • Value Estimation
      $275,000
      4,372 SF

      270 Abbott Rd

      VEHICLE SALES, RENTALS • 4,372 SF
      270 Abbott Rd, Buffalo, NY 14220-1306
      View Details
    • Value Estimation
      $420,000
      7,703 SF

      426 Abbott Rd

      VEHICLE SALES, RENTALS • 7,703 SF
      426 Abbott Rd, Buffalo, NY 14220-1634
      View Details

    Similar Nearby for Sale

    • $450,000

      Auto Garage and Used Car Lot

      1620 SF auto garage/used car lot for sale.
      1423 S Park Ave, Buffalo, NY 14220
      View Details
    • $755,000
      984 SF

      Auto Shop with Fenced Parking

      Two-bay auto shop with office, parking, and month-to-month lease.
      416 Abbott Rd, Buffalo, NY 14220
      View Details
    • $399,000
      1,316 SF

      Prime Buffalo Retail Space

      1,316 SF Auto Shop/Storefront, $399K
      346 Hopkins St, Buffalo, NY 14220
      View Details
    • $399,000

      Corner Commercial Building with Drive-In

      Commercial building on 0.34 acres with excellent exposure.
      346 Hopkins St, Buffalo, NY 14220
      View Details
    • $325,000
      2,700 SF

      Abbott Road Retail Opportunity

      South Buffalo Commercial Property: High Traffic Location
      1002 Abbott Rd, Buffalo, NY 14220
      View Details
    • $600,000
      8,534 SF

      South Buffalo Retail Space

      Prime Location, High Visibility, 8,534+ SF
      2036 Park Ave, Buffalo, NY 14220
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      2,220 SF

      Retail Space in Corner Location

      2,200+/- SF retail space with parking and signage.
      2221-2249 S Park Ave, 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
    • $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
    • 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
    • $12 SF/Yr
      5,000 SF

      Prime Buffalo Executive Office Space

      5,000 SF Office, Flexible Suites
      36 Abbott Rd, Buffalo, NY 14220
      View Details
    • Contact for pricing

      Fully Equipped Former Pizzeria

      Turn-key restaurant opportunity near downtown Buffalo and major attractions.
      2412 South Park Ave, Buffalo, NY 14220
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2116 Park Ave
    Buffalo, NY 14220-2243
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.