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Property profile & analytics
OFF-MARKET
Estimated value
$21,745,000
Community centers
2626 Delaware Ave Buffalo, NY 14216-1737
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-2024836
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1996
Total area
122,248 SF
Lot
9.15 ac (398,574 SF)
Zoning code
D-S
APN
140200 78.46-6-10
UPID
US63-2024836
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.57M
Comparable Approach
Comparable
$20.53M
Blend (final)
Blend
$21.75M
Owner & transaction history
Onondaga Galleries LLC · 4 yrs held
Onondaga Galleries LLC
since 2022
Last sale
$23.0M
3 recorded transactions
Zoning & alternative use
D-S · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$17.6M
+10.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Buffalo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Buffalo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$20,620,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$23,360,000
6.5%
$21,565,000
7%
$20,025,000
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
Blend value · Realmo final
$21.75M
Range $19.57M – $23.92M · ±10% · vs last sale $23.00M (Jan 6 2022)
Last sale anchor
$23.00M
Jan 6 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$178 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$8,730,000
Assessed 2023
Previous assessed
$7,956,000
+9.7% YoY
Assessed land
$1,444,000
Assessed improvement
$7,286,000
Land market value
$2,062,857
Improvement market value
$10,408,572
Total market value
$12,471,429
Applied tax rate
140,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
PARTIAL
Stories
1
Total area
122,248 SF
Lot
9.15 ac (398,574 SF)
Zoning code
D-S
APN
140200 78.46-6-10
UPID
US63-2024836
Jurisdiction
ERIE
Zoning & alternative use
D-S · Buffalo, NY
Zoning D-S · permitted uses
D-S · Buffalo, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Buffalo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$15.9M
RETAIL STORES
Est. value
$17.6M
RESTAURANT
Est. value
$15.1M
OFFICE BUILDING
Est. value
$14.2M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
NONE
Cooling
Yes
Stories
1
Lot
9.15 ac
Current owner
From public records · entity-resolved
Onondaga Galleries LLC
Entity
Mailing address
400 ANDREWS ST STE #500, ROCHESTER, NY 14604-1461
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
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
$23,000,000 · 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
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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