298 Main St Buffalo, NY 14202
Investment properties
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Entity Owned
10-yr Hold
~
Est. High Equity
For Lease
1 / 2
Contact for pricing
298 Main St, Buffalo, NY 14202
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Estimated value (blended)
$8.96M
Range $8.06M – $9.86M (±10%)
Property ID
US63-0645877
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1917
Total area
98,993 SF
Lot
0.25 ac (10,872 SF)
Zoning code
N-1D
APN
140200 111.61-2-9
UPID
US63-0645877
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Law Firm
-
Law Firm
-
Law Firm
-
Law Firm
-
Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$8.96M
Owner & transaction history
since 2016
5 recorded transactions
Zoning & alternative use
N-1D · Buffalo, NY
Zoning description
located in an N-1D, N-1C, N-1S, D-M, or D-E zone. B. Dwelling, Ancillary. A dwelling unit associated with and incidental to a principal dwelling on the same lot. 1. A detached ancillary dwelling must have a lower height…
General category
COMMERCIAL
Top alternative use upside
Retail stores
$14.2M
+16.8%
Neighborhood: shopping center
$12.8M
+5.6%
Restaurant
$12.3M
+0.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$8.96M
Value range
$8.06M – $9.86M
±10% around blend
Estimated value / SF
$91 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
10
Income certainty
100
$8.06M
blend $8.96M
$9.86M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
98,993 SF
Lot area
0.25 ac
Year built
1917
Stories
11
APN
140200 111.61-2-9
Assessed value
$8,000,000
Annual tax
$41,575
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$41,575
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$5.60M
Weighted, 0 comps · none confidence
Evidence
1 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.96M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 22 sales
$123
-26%
Submarket 808 sales
$78
+16%
County 1188 sales
$83
+9%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $91/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+17%
vs current-use indication
Neighborhood: Shopping Center
Restaurant
Commercial (general) · current use
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$445k
Move the market yield to see immediate price impact.
Value / SF
$4
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$28k
$561k
$401k
$312k
$31k
$623k
$445k
$346k
$34k
$686k
$490k
$381k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$41,575
Tax year 2023
Assessed value
$8,000,000
Assessed 2023
Previous assessed
$9,000,000
-11.1% YoY
Effective rate
0.52%
On assessed value
Assessed land
$119,800
Assessed improvement
$7,880,200
Land market value
$171,143
Improvement market value
$11,257,428
Total market value
$11,428,571
Applied tax rate
140,200.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1917
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
11
Total area
98,993 SF
Lot
0.25 ac (10,872 SF)
Zoning code
N-1D
APN
140200 111.61-2-9
UPID
US63-0645877
Jurisdiction
ERIE
Zoning & alternative use
N-1D · Buffalo, NYZoning N-1D · permitted uses
N-1D · Buffalo, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
located in an N-1D, N-1C, N-1S, D-M, or D-E zone. B. Dwelling, Ancillary. A dwelling unit associated with and incidental to a principal dwelling on the same lot. 1. A detached ancillary dwelling must have a lower height…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1917
Heating
NONE
Cooling
Yes
Stories
11
Buildings
1
Lot
0.25 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
N-1D
COMMERCIAL
Jurisdiction
Buffalo, NY
Recorded code
N-1D
Official district
N-1D
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for N-1D in Buffalo, NY.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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