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

    331 Alberta Dr Buffalo, NY 14226

    • Office buildings
    • 15,400 SF
    • 0.85 lot acres
    For Lease
    View listing
    Value Estimations
    $765,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1390040
    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

    • Isalis / Gift Shop / Boutique
    • Party City / Candy Store / Costume Store
    • Skunk Funk / Clothing Store / Corporate Campus
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 331 Alberta Dr

    Year built
    1969
    Lot size
    0.85 lot acres
    Property size
    15,400 SF
    Property type
    Office buildings
    APN
    142289 67.06-2-25
    APU
    1422896706225

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,064,000
      Market price range: $1.05M - $2.63M
      AI Estimate
      $621,000
      Market price range: $438k - $1.56M

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

    Location Insight

    • Map
    • Local Demand
    City
    Amherst
    County
    Erie
    State
    New York
    Longitude
    -78.8168
    Latitude
    42.9817
    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
    $32,687
    $345,000
    $520,000
    $865,000
    -
    $556,451
    $838,710
    $1,395,161

    Comparable in this City

    • Value Estimation
      $2,565,000
      17,108 SF

      3112 Sheridan Dr

      OFFICE BUILDING • 17,108 SF
      3112 Sheridan Dr, Buffalo, NY 14226-1904
      View Details
    • Value Estimation
      $2,835,000
      22,204 SF

      4224 Rdg Lea Rd

      OFFICE BUILDING • 22,204 SF
      4224 Rdg Lea Rd, Buffalo, NY 14226-1016
      View Details
    • Value Estimation
      $1,435,000
      14,269 SF

      4927 Main St

      PROFESSIONAL BUILDING • 14,269 SF
      4927 Main St, Amherst, NY 14226-4081
      View Details
    • Value Estimation
      $1,915,000
      22,584 SF

      350 Alberta Dr

      PROFESSIONAL BUILDING • 22,584 SF
      350 Alberta Dr, Buffalo, NY 14226-1855
      View Details
    • Value Estimation by Request
      868 SF

      715 Millersport Hwy

      PROFESSIONAL BUILDING • 868 SF
      715 Millersport Hwy, Amherst, NY 14226-2405
      View Details
    • Value Estimation
      $1,540,000
      12,200 SF

      3915 Sheridan Dr

      PROFESSIONAL BUILDING • 12,200 SF
      3915 Sheridan Dr, Amherst, NY 14226-1718
      View Details

    Similar Nearby for Sale

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      Remodeled Office Building For Sale

      3,650 SF office building with remodeled interiors and parking.
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    • $495,000
      2,043 SF

      Stand-Alone Office Building in Amherst

      Professional office building in a high-traffic Amherst location.
      2056 Kensington Ave, Buffalo, NY 14226
      View Details
    • $449,000
      1,566 SF

      Professional Building Near Sheridan Drive

      Professional building with parking near Sheridan Drive and Sweet Home.
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    • $474,444
      2,043 SF

      Kensington Ave Office Building

      Prime Amherst Office, 2,043 SF, Vacant
      2056 Kensington Ave, Buffalo, NY 14226
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    • $800,000
      0.65 Acres

      Bailey Avenue Development Opportunity

      0.65 acre corner lot in Amherst's booming commercial corridor.
      220 Meyer Rd, Buffalo, NY 14226
      View Details
    • $2,150,000

      Amherst Multifamily Investment Opportunity

      30 units in a desirable suburban neighborhood with upside potential.
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    Similar Nearby for Lease

    • Contact for pricing
      2,043 SF

      Stand-Alone Office Building in Amherst

      Professional office building in a high-traffic Amherst location.
      2065 Kensington Ave, Buffalo, NY 14226
      View Details
    • $18 SF/Yr

      Amherst Office Building with Atrium

      Two-story office building with interior atrium and ample parking.
      350 Alberta Dr, Buffalo, NY 14226
      View Details
    • $12 SF/Yr
      8,200 SF

      Executive Suites, Bailey Ave.

      Prime Erie County Office Space For Lease
      4568 Bailey Ave, Amherst, NY 14226
      View Details
    • Contact for pricing
      2,580 SF

      Amherst Executive Office Space

      2,580 sq ft Executive Office, 8 Parking Spaces
      2188 Kensington Ave, Amherst, NY 14226
      View Details
    • Contact for pricing
      1,180 SF

      Visible Corner Office Space Available

      First and second floor office suites available for lease.
      3140 Sheridan Dr, Buffalo, NY 14226
      View Details
    • Contact for pricing

      Move-in Ready Office Space

      Available office space with immediate occupancy and ample parking.
      2140 Eggert Rd, Buffalo, NY 14226
      View Details
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    331 Alberta Dr
    Buffalo, NY 14226
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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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