Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2990 Transit Rd Buffalo, NY 14224-2524

    • Investment properties
    • 1,224 SF
    • 1.10 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2023
    $110,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2403270
    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

    • Investment properties

    Property Details for 2990 Transit Rd

    Year built
    1955
    Lot size
    1.10 lot acres
    Property size
    1,224 SF
    Zone code
    10
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    146800 136.05-3-45
    APU
    14680013605345

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.6984
    Latitude
    42.8494
    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
    $4,345
    $15,900
    $31,600
    $47,500
    -
    $61,154
    $121,538
    $182,692

    Comparable in this City

    • Value Estimation by Request
      5,154 SF

      5282 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,154 SF
      5282 Seneca St, Buffalo, NY 14224-3707
      View Details
    • Value Estimation by Request
      4,010 SF

      3865 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,010 SF
      3865 Seneca St, Buffalo, NY 14224-3408
      View Details
    • Value Estimation by Request
      1,675 SF

      485 Harlem Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,675 SF
      485 Harlem Rd, Buffalo, NY 14224-1148
      View Details
    • Value Estimation by Request
      3,292 SF

      3407 Clinton St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,292 SF
      3407 Clinton St, Buffalo, NY 14224-1264
      View Details
    • Value Estimation by Request
      2,656 SF

      6 And W Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,656 SF
      6 And W Rd, Buffalo, NY 14224
      View Details
    • Value Estimation by Request
      3,448 SF

      814 Mineral Spgs Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,448 SF
      814 Mineral Spgs Rd, Buffalo, NY 14224-1088
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Building with Apartments

      Multi-use building with office space and apartment units.
      1293 Union Rd, West Seneca, NY 14224
      View Details
    • Contact for pricing
      93,100 SF

      I-90 Regional Development Site

      Prime West Seneca medical office & development land
      355 Orchard Park Rd, West Seneca, NY 14224
      View Details
    • $4,110,000
      83.00 Acres

      83-Acre Industrial Land, West Seneca, NY

      Prime Metro Buffalo location, subdividable.
      0 America Dr, Buffalo, NY 14224
      View Details
    • $65,000
      Pending

      Land in West Seneca

      Vacant land for sale in a quiet neighborhood.
      125 Terrace Blvd, Buffalo, NY 14224
      View Details
    • $170,000
      2,960 SF

      West Seneca Warehouse Opportunity

      Freestanding warehouse building, ideal for distribution or storage.
      644-646 Potters Rd, West Seneca, NY 14224
      View Details
    • $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
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      5,000 SF

      356 Lein Rd

      Distribution properties
      356 Lein Rd, Buffalo, NY 14224
      View Details
    • $15 SF/Yr
      2,300 SF

      Professional Office Space Available

      Office space with beautiful grounds and affordable rent.
      3151 Clinton St, Buffalo, NY 14224
      View Details
    • $15 SF/Yr

      Renovated Office Space Available

      Modern office building with flexible lease options and ample parking.
      40 Gardenville Pkwy W, West Seneca, NY 14224
      View Details
    • Contact for pricing
      4,117 SF

      West Seneca Office/Medical/Retail Space

      Office, medical, or retail space available for rent.
      1900-1902 Ridge Rd, Buffalo, NY 14224
      View Details
    • $19 SF/Yr
      1,834 SF

      Clean Office Space Near Plaza

      Fair-conditioned office space near Southgate Plaza with included parking.
      3922 Seneca St, West Seneca, NY 14224
      View Details
    • $3 SF/Yr
      35,000 SF

      West Seneca Manufacturing/Warehouse Opportunity

      3.10 acre site with five buildings available for lease.
      1700 Union Rd, West Seneca, NY 14224
      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.
    2990 Transit Rd
    Buffalo, NY 14224-2524
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.