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    2626 Delaware Ave Buffalo, NY 14216-1737
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    Property profile & analytics

    2626 Delaware Ave, Buffalo, NY 14216-1737

    View on Map
    • Community centers
    • 122,248 SF
    • 9.15 lot acres
    Off-Market
    Last Sale Jan 6, 2022
    $23,000,000
    Property ID
    US63-2024836
    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
    $21,745,000
    Show details
    Cap Rate Potential
    6.8%
    Community centers
    Location Intelligence

    Current Use by Public Records

    • Target Optical / Physician
    • Dr. Mark E. Rodman, OD / Physician
    • Cardtronics ATM / Atm
    • Starbucks / Cafe & Coffee Shop
    • Target Grocery / Grocery & Convenience Store / Food Market

    Property Details for 2626 Delaware Ave

    Year built
    1996
    Lot size
    9.15 lot acres
    Zone code
    D-S
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    140200 78.46-6-10
    APU
    1402007846610

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 6, 2022 $29,000,000 Onondaga Galleries LLC G&j Ix Empire De Consumer Square Ll Bargain And Sale Deed $23M · Berkshire Bank
    Jan 6, 2022 $23,000,000 Delaware Ave LLC Hc Delaware Avenue LLC Deed —
    Jan 20, 2016 — Bg Delaware Holdings LLC Erie County Industrial Dev Age Quit Claim Deed · related —

    Description

    This exceptional retail opportunity presents 14,340 square feet of vacant space in a prime Buffalo, NY location at 2626 Delaware Ave (NEC Elmwood Ave & Hertel Ave), within Erie County. The property, built in 1995, sits on a generous 23.14-acre lot and boasts 874 parking spaces, ensuring ample customer convenience. The zoning is designated D-S. The center is a multi-tenant property currently offering flexible space options ranging from approximately 2,618 square feet to 7,000 square feet. The property benefits from excellent visibility and signage, attracting significant consumer traffic. The center is anchored by major national tenants, further enhancing its appeal and drawing a substantial daily customer base to the area. This presents a unique chance to establish a thriving business in a high-traffic, well-established retail center. The property's size and location make it ideal for a variety of retail uses. Interested parties should inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $20,620,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $23,360,000
      6.5%
      $21,565,000
      7%
      $20,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,534,000
      Market price range: $5.11M - $28.8M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $15,865,000
      Current use
      RETAIL STORES
      $17,555,000
      Change: +11% Conversion: Easy
      RESTAURANT
      $15,135,000
      Change: -5% Conversion: Difficult
      OFFICE BUILDING
      $14,180,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8738
    Latitude
    42.9554
    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
    $1,444,000
    $7,286,000
    $8,730,000
    -
    $2,062,857
    $10,408,572
    $12,471,429

    Comparable in this City

    • Value Estimation
      $5,875,000
      89,476 SF

      1025 Hertel Ave

      MINI-MALL
      1025 Hertel Ave, Buffalo, NY 14216
      View Details
    • Value Estimation
      $2,750,000
      40,400 SF

      1716 Kenmore Ave

      MINI-MALL
      1716 Kenmore Ave, Buffalo, NY 14216-1023
      View Details
    • Value Estimation
      $2,595,000
      29,009 SF

      2226 Delaware Ave

      MINI-MALL
      2226 Delaware Ave, Buffalo, NY 14216-2618
      View Details
    • Value Estimation
      $7,415,000
      93,495 SF

      2230 Delaware Ave

      MINI-MALL
      2230 Delaware Ave, Buffalo, NY 14216
      View Details
    • Value Estimation
      $2,110,000
      21,526 SF

      2290 Delaware Ave

      SHOPPING CENTER, STRIP CENTER
      2290 Delaware Ave, Buffalo, NY 14216-2632
      View Details
    • Value Estimation
      $2,010,000
      24,000 SF

      975 Hertel Ave

      SHOPPING CENTER, STRIP CENTER
      975 Hertel Ave, Buffalo, NY 14216-2627
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Unbranded Gas/Service Station Opportunity

      Gas/Service station and former auto body shop for sale.
      524 Hinman Ave, Buffalo, NY 14216
      View Details
    • $350,000

      North Buffalo Warehouse with Showroom

      Warehouse with showroom/retail space in North Buffalo near Military Road.
      452 Hinman Ave, Buffalo, NY 14216
      View Details
    • $649,000

      Hertel Avenue Bar/Restaurant with Apartments

      Turn-key bar/restaurant with apartments in a high-traffic location.
      1464 Hertel Ave, Buffalo, NY 14216
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Vibrant Retail Space on Hertel

      Street retail space in a popular, vibrant neighborhood.
      1487 Hertel Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing
      2,814 SF

      Retail/Office Space on Delaware Avenue

      High-visibility retail/office space in a high-traffic area.
      2458-2462 Delaware Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing

      Prime Retail/Office Space Available

      High-visibility retail or office space in a bustling commercial area.
      2458 Delaware Ave, Buffalo, NY 14216
      View Details
    • Contact for pricing
      5,600 SF

      Kenmore Avenue Retail/Office/Medical Space

      Retail, office, or medical space for lease on Kenmore.
      956-976 Kenmore Ave, Buffalo, NY 14216
      View Details
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    Buffalo, NY 14216-1737
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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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