Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    251 Main St Buffalo, NY 14203-2724
    Back to Search
    Property profile & analytics

    251 Main St, Buffalo, NY 14203-2724

    View on Map
    • Investment properties
    • 72,220 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Apr 24, 2025
    $191,250
    Property ID
    US63-3252849
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Glenny Building / Apartment Building

    Property Details for 251 Main St

    Year built
    1873
    Lot size
    0.23 lot acres
    Zone code
    N-1D
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    140200 111.70-1-8
    APU
    1402001117018

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 27, 2024 $357,500 Gillian G Mcguire Msbp 251 LLC Deed $286k · Newrez LLC
    Jul 23, 2024 $194,625 Sean Downey Msbp 251 LLC Condominium Deed —
    Jul 3, 2024 $184,500 Robert Jennings Wiles Msbp 251 LLC Deed —
    Jul 1, 2024 $194,625 Joseph Arthur Jones Msbp 251 LLC Deed $80k · Hunt Mortgage
    Jun 13, 2024 $163,125 Kevin M Broadwater Msbp 251 LLC Condominium Deed —
    Jun 7, 2024 $200,250 Margaret Jan Meek Msbp 251 LLC Deed —
    May 14, 2024 $184,500 Jordan Dimov Msbp 251 LLC Deed —
    May 10, 2024 $194,625 Timothy P Miller Msbp 251 LLC Deed —
    May 10, 2024 $182,250 Sean O'leary Msbp 251 LLC Deed —
    Apr 17, 2024 $223,500 Elizabeth A Bragg Msbp 251 LLC Condominium Deed $179k · Hunt Mortgage
    Apr 12, 2024 $191,250 John Grant Haarer Msbp 251 LLC Deed $115k · Evans Bank NA
    Apr 12, 2024 $184,500 Cataract Steel Industries Msbp 251 LLC Deed —
    Oct 17, 2014 $646,569 Msbp 251 LLC Main Seneca Corp Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8753
    Latitude
    42.8811
    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
    $17,025
    $110,200
    $3,165,800
    $3,276,000
    -
    $157,429
    $4,522,571
    $4,680,000

    Comparable in this City

    • Value Estimation by Request
      3,366 SF

      608 Michigan Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      608 Michigan Ave, Buffalo, NY 14203-1624
      View Details
    • Value Estimation
      $31,550,000
      229,593 SF

      233 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      233 Main St, Buffalo, NY 14203
      View Details
    • Value Estimation
      $5,320,000
      39,834 SF

      505 Ellicott St

      OFFICE/RESIDENTIAL (MIXED USE)
      505 Ellicott St, Buffalo, NY 14203-1547
      View Details
    • Value Estimation by Request
      14,594 SF

      181 Elm St

      OFFICE/RESIDENTIAL (MIXED USE)
      181 Elm St, Buffalo, NY 14203
      View Details
    • Value Estimation by Request
      6,818 SF

      223 Genesee St

      OFFICE/RESIDENTIAL (MIXED USE)
      223 Genesee St, Buffalo, NY 14203
      View Details
    • Value Estimation by Request
      6,900 SF

      38 Swan St

      OFFICE/RESIDENTIAL (MIXED USE)
      38 Swan St, Buffalo, NY 14203-2615
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,186 SF

      Medical Campus Mixed-Use Property

      Rare mixed-use property near Buffalo Niagara Medical Campus.
      760 Ellicott St, Buffalo, NY 14203
      View Details
    • Contact for pricing
      9,000 SF

      Historic Buffalo Entertainment Venue

      Fully occupied music venue in Buffalo's Cobblestone District.
      49 Illinois St, Buffalo, NY 14203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Mixed-Use Building on Michigan

      Recently renovated mixed-use building with office and apartment spaces.
      270 Michigan Ave, Buffalo, NY 14203
      View Details
    • $1,950 /Mo

      Office Space with 24-Hour Security

      Office space with private offices, conference room, and 24-hour security.
      79 Perry St, Buffalo, NY 14203
      View Details
    • Contact for pricing

      Historic Brisbane Building Retail/Office Space

      Handsomely appointed office suites and retail space in historic building.
      403 Main St, Buffalo, NY 14203
      View Details
    • $15 SF/Yr
      151,938 SF

      Buffalo Office Space For Rent

      Available office space in a professional building near medical corridor.
      921 Main St, Buffalo, NY 14203
      View Details
    • Contact for pricing
      1,350 SF

      Equipped Coworking Space for Rent

      Equipped coworking space with high-speed Wi-Fi and 24/7 access.
      501-505 Ellicott St, Buffalo, NY 14203
      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.
    251 Main St
    Buffalo, NY 14203-2724
    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

    Thank You for Inquiry
    251 Main St, Buffalo, NY, 14203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!