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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2983 Seneca St Buffalo, NY 14224-1950

    • Retail space
    • 16,430 SF
    • 6.50 lot acres
    OFF-MARKET
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3696853
    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

    • Rapid Rooter Plumbing Services in Rochester and Buffalo, NY / Plumber
    • HJS Supply Co / Janitorial Equipment Supplier / Equipment Rental Agency

    Property Details for 2983 Seneca St

    Year built
    1965
    Lot size
    6.50 lot acres
    Property size
    16,430 SF
    Zone code
    10
    Property type
    Retail space
    APN
    146800 134.17-3-1.1
    APU
    14680013417311

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $306,000
      Market price range: $307k - $954k

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7833
    Latitude
    42.8379
    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
    2019
    $11,897
    $45,000
    $86,900
    $131,900
    -
    $173,077
    $334,231
    $507,308

    Comparable in this City

    • Value Estimation by Request

      3977 Seneca St

      Individual retail properties
      3977 Seneca St, Buffalo, NY 14224
      View Details
    • Value Estimation
      $315,000
      15,120 SF

      25 Gardenville W Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 15,120 SF
      25 Gardenville W Pkwy, Buffalo, NY 14224-1488
      View Details
    • Value Estimation
      $300,000
      2,200 SF

      701 Orch Park Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      701 Orch Park Rd, Buffalo, NY 14224-2675
      View Details
    • Value Estimation
      $250,000
      2,881 SF

      2995 Rdg Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,881 SF
      2995 Rdg Rd, Buffalo, NY 14224-3301
      View Details
    • Value Estimation
      $2,015,000
      9,230 SF

      5203 Seneca St

      RETAIL STORES (PERSONAL SERVICES) • 9,230 SF
      5203 Seneca St, Buffalo, NY 14224-3706
      View Details
    • Value Estimation
      $335,000
      2,844 SF

      1251 Un Rd

      FINANCIAL BUILDING • 2,844 SF
      1251 Un Rd, West Seneca, NY 14224-2916
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,500 SF

      Prime Corner Location Opportunity

      Corner lot with high visibility, suitable for retail or restaurant.
      1590 Southwestern Blvd, Buffalo, NY 14224
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    • $2,394,370
      15,059 SF

      Retail Property with Corporate Guaranty

      Retail property with a corporate-guaranteed lease and expansion options.
      25 Gardenville Pkwy, West Seneca, NY 14224
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    • $749,000

      Prime Commercial Property Near Seneca

      4,282 sq ft commercial property with high visibility.
      3001 Ridge Rd, West Seneca, NY 14224
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    • Contact for pricing
      2,298 SF

      West Seneca Retail Opportunity

      2298 SF retail property in a thriving commercial zone.
      2990 Seneca St, Buffalo, NY 14224
      View Details
    • $1,890,000
      2,000 SF

      Retail Property with NNN Lease

      Retail property with an existing NNN lease and franchisee guarantee.
      701 Orchard Park Rd, Buffalo, NY 14224
      View Details
    • Contact for pricing

      West Seneca Retail Opportunity

      23,466 SF retail space with high ceilings and ample parking.
      3144 Orchard Park Rd, West Seneca, NY 14224
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,400 SF

      Retail/Office Space Near Shea's

      Retail or office spaces available across from Shea's Center.
      651-661 Main St, Buffalo, NY 14224
      View Details
    • $14 SF/Yr
      6,200 SF

      Downtown Retail Space Available

      Highly visible retail space with superb highway access.
      120 Broadway St, Buffalo, NY 14224
      View Details
    • Contact for pricing
      1,803 SF

      Retail Space in Seneca Ridge Plaza

      Neighborhood center with high visibility and accessibility in West Seneca.
      3521-3531 Seneca St, West Seneca, NY 14224
      View Details
    • $5,500 /Mo

      Retail Showroom with Garage Space

      Retail showroom with office, garage, and storage space available.
      3045 Seneca St, West Seneca, NY 14224
      View Details
    • Contact for pricing
      100,000 SF

      Tech Office Space Development

      280,000 SF tech office space with 1,000-space parking garage.
      350-400 Main St, Buffalo, NY 14224
      View Details
    • $200 SF/Yr
      5,578 SF

      West Seneca Retail/Office Space

      900 SF, prime Union Rd location. Full build-out available.
      2339 Union Rd, West Seneca, NY 14224
      View Details
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    2983 Seneca St
    Buffalo, NY 14224-1950
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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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