Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Investment properties
31 Tamarack St Buffalo, NY 14220-1780
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-5301973
Property summary
AI-generated overview
This stunning 32-unit apartment building, located at 31 Tamarack St in Buffalo, NY, presents a unique investment opportunity. Originally constructed in 1926 and extensively renovated in 2016, this Class A property boasts 53,390 square feet and offers a compelling 7.50% cap rate. The building, a converted historic schoolhouse, features spacious loft apartments with 12-foot ceilings and large windows, maximizing natural light. Each unit includes high-efficiency central air conditioning and heating, energy-rated appliances, and an in-unit washer and dryer. Many original historic features, such as hardwood floors, slate blackboards, and original doors and hardware, have been meticulously preserved and restored. On-site parking is also available. With a price of $3,500,000 ($109,375 per unit and $65.56 per square foot), this property offers a blend of historical character and modern amenities in a desirable South Buffalo location, presenting significant potential for future growth and strong rental income. The property is situated in Erie County, NY, zip code 14220.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1922
Total area
17,478 SF
Zoning code
N-3R
APN
140200 133.32-5-1.12
UPID
US63-5301973
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
-
School Lofts at Abbott Housing Development
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.93M
CAP Approach
CAP
$2.91M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$2.86M
Owner & transaction history
Schrute Properties LLC · 1 yrs held
Schrute Properties LLC
since 2025
Last sale
$3.6M
1 recorded transaction
Zoning & alternative use
N-3R · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+99.6%
Neighborhood: shopping center
$2.3M
+80.4%
Restaurant
$2.2M
+72.1%
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
$3,440,000
ML approach
$2,930,000
CAP Approach
CAP Return
Estimation
6%
$3,145,000
6.5%
$2,905,000
7%
$2,695,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,510,000
Change: +100% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,270,000
Change: +80% · Conversion: Difficult
RESTAURANT
$2,165,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$2,025,000
Change: +61% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±10% · vs last sale $3.55M (Mar 14 2025)
Last sale anchor
$3.55M
Mar 14 2025
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
$163 / 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
Tax billed
$13,850
Tax year 2023
Assessed value
$2,665,000
Assessed 2023
Previous assessed
$2,665,000
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$86,000
Assessed improvement
$2,579,000
Land market value
$122,857
Improvement market value
$3,684,286
Total market value
$3,807,143
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1922
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
17,478 SF
Zoning code
N-3R
APN
140200 133.32-5-1.12
UPID
US63-5301973
Jurisdiction
ERIE
Zoning & alternative use
N-3R · Buffalo, NY
Zoning N-3R · permitted uses
N-3R · 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
RETAIL STORES
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RESTAURANT
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1922
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Current owner
From public records · entity-resolved
Schrute Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
257 LAFAYETTE AVE, BUFFALO, NY 14213-1590
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
$3,550,000
Schrute Properties LLC
Pams Properties LLC
Bargain & Sale Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 31 Tamarack St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
