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    Property profile & analytics

    2282 Elmwood Ave Buffalo, NY 14217

    • Office buildings
    • 4,800 SF
    • 0.35 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jan 07, 2021
    $190,000
    Value Estimations
    $175,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2907281
    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

    • Office buildings

    Property Details for 2282 Elmwood Ave

    Year built
    1987
    Lot size
    0.35 lot acres
    Property size
    4,800 SF
    Zone code
    04 - FARM
    Property type
    Office buildings
    APN
    146401 78.29-5-20
    APU
    1464017829520

    Description

    This 4,800-square-foot, single-tenant office building at 2282 Elmwood Ave in Buffalo, NY, offers a flexible workspace ideal for various business types. Built in 1987 and renovated in 2020, the Class B property boasts seven offices, four meeting rooms, three lavatories, a reception area, and a waiting room. The ample 0.35-acre lot provides convenient on-site parking for approximately 30 vehicles, accessed via three curb cuts. The building's layout is currently configured for office use, but its zoning (General Business GB) allows for potential retail applications. Located in the Kenmore submarket of Erie County, this property offers easy access to Kenmore Ave. The lease includes tenant responsibility for utilities, lawn maintenance, and snow plowing. Property taxes are covered by the landlord, with any increase above the 2025 base year to be the tenant's responsibility. 4,500 square feet are currently vacant and ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $175,000
      ML approach
      $170,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $168,000
      Market price range: $169k - $475k

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8791
    Latitude
    42.9591
    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
    $0.00
    $30,000
    $32,700
    $62,700
    -
    $125,024
    $136,276
    $261,300

    Comparable in this City

    • Value Estimation
      $335,000
      1,965 SF

      3350 Delaware Ave

      OFFICE BUILDING • 1,965 SF
      3350 Delaware Ave, Buffalo, NY 14217-1425
      View Details
    • Value Estimation
      $285,000
      2,950 SF

      22 Victoria Blvd

      OFFICE BUILDING • 2,950 SF
      22 Victoria Blvd, Buffalo, NY 14217-2314
      View Details
    • Value Estimation
      $470,000
      6,700 SF

      3095 Elmwood Ave

      OFFICE BUILDING • 6,700 SF
      3095 Elmwood Ave, Buffalo, NY 14217-1123
      View Details
    • Value Estimation
      $415,000
      2,688 SF

      2835 Elmwood Ave

      PROFESSIONAL BUILDING • 2,688 SF
      2835 Elmwood Ave, Buffalo, NY 14217-1330
      View Details
    • Value Estimation
      $330,000
      4,032 SF

      1605 Kenmore Ave

      OFFICE BUILDING • 4,032 SF
      1605 Kenmore Ave, Buffalo, NY 14217-2614
      View Details
    • Value Estimation
      $395,000
      9,564 SF

      3370 Delaware Ave

      OFFICE BUILDING • 9,564 SF
      3370 Delaware Ave, Buffalo, NY 14217-1425
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,400 SF

      Tonawanda Office Building For Sale

      4,400 sq. ft. office building in the heart of Tonawanda.
      2757 Elmwood Ave, Buffalo, NY 14217
      View Details
    • $399,000
      Pending

      Mixed-Use Building with Apartments

      Mixed-use building featuring office space and apartments in Buffalo.
      80 Delaware Rd, Buffalo, NY 14217
      View Details
    • $396,000
      4,430 SF

      Warehouse and Office Space Available

      Warehouse and office space on Military Road with development potential.
      1320 Military Rd, Kenmore, NY 14217
      View Details
    • $598,000

      Freestanding Building with Remodeled Offices

      Freestanding building with remodeled offices and paved parking.
      1783 Kenmore Ave, Kenmore, NY 14217
      View Details
    • $259,000

      End-Cap Retail/Office/Medical Space

      2,850+/- SF end-cap in Kenmore's Elmwood Business district.
      2454 Elmwood Ave, Kenmore, NY 14217
      View Details
    • $489,900
      5,000 SF

      Kenmore Retail Investment Opportunity

      High-traffic, vacant retail space in Kenmore, NY
      2815 Delaware Ave, Kenmore, NY 14217
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      4,000 SF

      Kenmore Office Space for Rent

      Charming 4,000 SF office space in Kenmore area.
      2746 Delaware Ave, Buffalo, NY 14217
      View Details
    • Contact for pricing
      8,176 SF

      Kenmore Village Storefront for Lease

      Storefront in walkable commercial area, Kenmore Village. Lease only.
      3107 Delaware Ave, Buffalo, NY 14217
      View Details
    • $12 SF/Yr
      4,800 SF

      Elmwood Ave Office Space For Lease

      Versatile Office Building, 4,500 SF Available
      2282 Elmwood Ave, Buffalo, NY 14217
      View Details
    • Contact for pricing
      18,210 SF

      Prime Medical Office Space Available

      Medical office space near Kenmore Mercy Hospital, ample plumbing.
      1491 Sheridan Dr, Buffalo, NY 14217
      View Details
    • Contact for pricing
      19,258 SF

      Retail or Office Space Available

      Open plan retail or office space suitable for small businesses.
      2940 Delaware Ave, Buffalo, NY 14217
      View Details
    • Contact for pricing
      1,317 SF

      Delaware Avenue Office Space Available

      1,317 SF office space in prime Kenmore location.
      2750-2780 Delaware Ave, Buffalo, NY 14217
      View Details
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    Buffalo, NY 14217
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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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