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

    343 Elmwood Ave Buffalo, NY 14222-2203

    • Investment properties
    • 6,764 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Dec 17, 2021
    $400,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2430957
    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

    • Cohen and Lombardo P.C. / Personal Injury Attorney
    • Cohen & Lombardo: Caro Daniel C / Attorney
    • Lavallee Diane M / Attorney
    • Shapiro Stuart B / Law Firm / Insurance Attorney
    • Schwach Michelle M / Attorney

    Property Details for 343 Elmwood Ave

    Year built
    1980
    Lot size
    0.23 lot acres
    Property size
    6,764 SF
    Zone code
    N-2E
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    140200 100.62-1-38.1
    APU
    140200100621381

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $495,000
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $565,000
      Market price range: $270k - $814k
      AI Estimate
      $549,000
      Market price range: $345k - $696k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $530,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $880,000
      Change: +66% Conversion: Difficult
      RESTAURANT
      $835,000
      Change: +58% Conversion: Difficult
      OFFICE BUILDING
      $785,000
      Change: +48% Conversion: Easy
      AUTO REPAIR, GARAGE
      $660,000
      Change: +24% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8766
    Latitude
    42.9064
    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
    2023
    $0.00
    $100,000
    $495,000
    $595,000
    -
    $142,857
    $707,143
    $850,000

    Comparable in this City

    • Value Estimation
      $3,885,000
      29,920 SF

      766 Elmwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 29,920 SF
      766 Elmwood Ave, Buffalo, NY 14222
      View Details
    • Value Estimation by Request
      5,427 SF

      291 Bryant St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,427 SF
      291 Bryant St, Buffalo, NY 14222-1924
      View Details
    • Value Estimation by Request
      3,240 SF

      302 Bryant St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,240 SF
      302 Bryant St, Buffalo, NY 14222-1942
      View Details
    • Value Estimation
      $1,205,000
      4,537 SF

      740 Elmwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,537 SF
      740 Elmwood Ave, Buffalo, NY 14222-2099
      View Details
    • Value Estimation
      $505,000
      6,449 SF

      746 Elmwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,449 SF
      746 Elmwood Ave, Buffalo, NY 14222-1639
      View Details
    • Value Estimation by Request
      2,339 SF

      582 Elmwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,339 SF
      582 Elmwood Ave, Buffalo, NY 14222-1887
      View Details

    Similar Nearby for Sale

    • $495,000
      4,746 SF

      Elmwood Village Mixed-Use Investment

      Mixed-use property in Buffalo's desirable Elmwood Village. Strong rental demand.
      1094 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $489,000
      2,690 SF

      Elmwood Village Mixed-Use Building

      Three-story mixed-use building in the heart of Elmwood Village.
      912 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $750,000
      4,650 SF

      Elmwood Village Mixed-Use Investment Property

      Two-story, five-unit commercial property in Elmwood Village, 100% leased.
      423 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $585,000
      5,158 SF

      Elmwood Ave. Office Building

      Prime Buffalo location, 5,158 sq ft.
      1219 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $1,710,000
      11,437 SF

      Elmwood Ave Mixed-Use Investment

      Prime Buffalo location, high NOI.
      758 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $995,000
      7,164 SF

      Renovated Apartment Building in Elmwood Village

      Renovated 6-unit apartment building near Bidwell Park and SUNY.
      1030 Elmwood Ave, Buffalo, NY 14222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Elmwood Village Mixed-Use Building

      20,000 SF mixed-use building in Elmwood Village, Buffalo, NY.
      448 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $2,100 /Mo
      1,050 SF

      Prime Commercial Space on Elmwood

      High-traffic Buffalo location ideal for retail, office, or service-based operations.
      515 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $15 SF/Yr
      4,000 SF

      Elmwood Avenue Second Floor Office

      Second floor office space in desirable Elmwood Avenue location.
      423 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $2,500 /Mo
      1,242 SF

      Elmwood Avenue Commercial Space

      Prime commercial space in high-traffic Buffalo business corridor, available 2026.
      513 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $15 SF/Yr
      4,000 SF

      Prime Elmwood Ave Executive Office

      1,200 SF Office Suite Available Now
      423 Elmwood Ave, Buffalo, NY 14222
      View Details
    • $25 SF/Yr
      16,560 SF

      Elmwood Village Retail Spaces

      Prime Buffalo location, multiple suites available.
      471 Elmwood Ave, Buffalo, NY 14222
      View Details
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    343 Elmwood Ave
    Buffalo, NY 14222-2203
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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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