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Property summary
The property is located in the University District, approximately 0.5 miles from UB South Campus, and consists of two restaurant buildings situated on a 0.6265-acre lot with more than fifty parking spaces. The Steer is a two-story building of approximately 7,100 square feet with a full basement, featuring seating for 235 patrons indoors plus 80 additional seats on two patios; it includes three bars (one on the first floor and two associated with second-floor patio areas), two indoor dining rooms, two patios, and two kitchens. The Lake Effect Diner is a 2,600-square-foot single restaurant building with seating for 50, and a design plan/blueprints exist for an addition intended to increase capacity by 80; the diner includes a vintage 1952 Mountain View Diner dining room that was transported from Wayne, Pennsylvania in 2001, and a newer building portion with a large kitchen and full basement that supports two stories of cooking, prep, and baking space. Ancillary improvements include a 600-square-foot garage (20 by 30 feet), two sheds, and a shipping container.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
as applied in the N-3C zone. J. Elmwood Village Standards. 1. The Elmwood Village is defined as the area north of North Street, south of Forest Avenue, east of Richmond Avenue, and west of Delaware Avenue, but not includ…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Buffalo market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
N-3C · Buffalo, NYas applied in the N-3C zone. J. Elmwood Village Standards. 1. The Elmwood Village is defined as the area north of North Street, south of Forest Avenue, east of Richmond Avenue, and west of Delaware Avenue, but not includ…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
as applied in the N-3C zone. J. Elmwood Village Standards. 1. The Elmwood Village is defined as the area north of North Street, south of Forest Avenue, east of Richmond Avenue, and west of Delaware Avenue, but not includ…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for N-3C in Buffalo, NY.
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- Property Ownership
- Basic report summary
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
- Property Insight Report
- Value Estimation
- Cap Rate Calculation
- Location Intelligence
- Business Placement
- Ownership
- Zoning
