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

    2250 Seneca St Buffalo, NY 14210

    • Investment properties
    • 18,346 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Nov 14, 2023
    $775,000
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0122592
    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

    • Family Dollar / Discount Store

    Property Details for 2250 Seneca St

    Year built
    1950
    Lot size
    0.22 lot acres
    Property size
    18,346 SF
    Zone code
    N-3C
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    140200 133.26-4-17
    APU
    14020013326417

    Description

    This exceptional mixed-use property in Buffalo, NY, presents a compelling investment opportunity. The 17,674 square foot building, situated on a 0.19-acre lot at 2250 Seneca St, features a ground floor occupied by a Family Dollar store under a Net Net (NN) lease with a corporate guarantee, ensuring minimal landlord responsibilities. The lease, commencing September 6, 2006, and expiring December 29, 2026, has approximately 3.7 years remaining, with two five-year renewal options, each including a 10% rent increase. The current occupancy is 100%, generating a price per square foot of $54.95 and an asking price of $971,157. The building is a two-story structure with Retail/Residential zoning, offering significant value-add potential. The upper floor, currently vacant, provides approximately 8,837 square feet for future development, potentially into additional residential units. Family Dollar, a tenant with a BBB- investment-grade credit rating from S&P, anchors the property. The location benefits from high visibility and proximity to major national retailers such as Home Depot, ALDI, Petco, OfficeMax, Walgreens, Save-A-Lot, and Tim Hortons. The surrounding area boasts a dense population, with over 218,000 residents within a five-mile radius and an average annual household income exceeding $61,000 within a three-mile radius. This property offers a strong current income stream and substantial upside potential for future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000
      ML approach
      $985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,255,000
      Market price range: $636k - $1.26M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $985,000
      Current use
      WAREHOUSE, STORAGE
      $1,025,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8054
    Latitude
    42.8521
    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
    $3,950
    $19,200
    $740,800
    $760,000
    -
    $27,429
    $1,058,285
    $1,085,714

    Comparable in this City

    • Value Estimation by Request
      2,346 SF

      221 Jefferson Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,346 SF
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    • Value Estimation by Request
      1,664 SF

      215 Fillmore Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,664 SF
      215 Fillmore Ave, Buffalo, NY 14210-1239
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      $3,070,000
      37,228 SF

      229 Elk St

      OFFICE/RESIDENTIAL (MIXED USE) • 37,228 SF
      229 Elk St, Buffalo, NY 14210
      View Details
    • Value Estimation by Request
      2,962 SF

      1892 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,962 SF
      1892 Seneca St, Buffalo, NY 14210-1840
      View Details
    • Value Estimation by Request
      4,459 SF

      874 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,459 SF
      874 Seneca St, Buffalo, NY 14210
      View Details
    • Value Estimation by Request
      3,532 SF

      2168 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,532 SF
      2168 Seneca St, Buffalo, NY 14210-2445
      View Details

    Similar Nearby for Sale

    • $499,900
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      Mixed-Use Building in Seneca District

      Mixed-use property with storefronts and updated apartments in Buffalo.
      2096 Seneca St, Buffalo, NY 14210
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    • $299,000
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      Mixed-Use Building in Cazenovia Park

      Mixed-use building with retail and apartments in South Buffalo.
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    • $224,000
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      Mixed-Use Property on Seneca Street

      Vacant mixed-use property with recent renovations.
      2346 Seneca St, Buffalo, NY 14210
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    • $179,000
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      Turnkey Mixed-Use Investment Opportunity

      Two-unit mixed-use property in high-traffic location, perfect for investors.
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    • $249,900
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      Mixed-Use Investment Property Available

      Tenant-occupied mixed-use property with storefront and apartments.
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    • $249,900
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      Updated Mixed-Use Investment Opportunity

      Mixed-use property with high cap rate and rental income.
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    Similar Nearby for Lease

    • $4 SF/Yr
      8,700 SF

      Industrial Warehouse Space in Buffalo

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    • Contact for pricing
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      Office Space for Rent

      4,812 SF office space available with parking and highway access.
      3601 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
    • $7,750 /Mo
      5,000 SF

      Spacious Rental Near Cazenovia Park

      Two-story, 5,000 sq ft rental near Cazenovia Park.
      57 St John's Parkside, 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
    • $13 SF/Yr
      10,975 SF

      Loft-Style Office Space Available

      Office space with private offices, cubicles, kitchen, and nap room.
      701 Seneca St, Buffalo, NY 14210
      View Details
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    2250 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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