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    Property profile & analytics

    3800 Hoover Rd Blasdell, NY 14219

    • Turn key restaurants
    • 13,692 SF
    • 1.60 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    May 18, 2023
    $610,000
    Value Estimations
    $655,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5963974
    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

    • The Cowboy on the Lake / Bar

    Property Details for 3800 Hoover Rd

    Year built
    1950
    Lot size
    1.60 lot acres
    Property size
    13,692 SF
    Property type
    Turn key restaurants
    APN
    144889 159.11-1-1
    APU
    1448891591111

    Description

    This exceptional waterfront restaurant and banquet facility, located at 3800 Hoover Road in Blasdell, NY, presents a unique investment opportunity. The property boasts a classic, remodeled three-story wood-frame structure with a total of 13,692 square feet. Currently, 10,000 square feet of space is available for lease or sale. The building sits on a sizable 6-acre lot and features a stunning covered patio bar on a large concrete deck capable of accommodating 300 people. Enjoy breathtaking, unobstructed views of Lake Erie and the Buffalo skyline. The property includes ample parking with 300 spaces. Built in 1900, this landmark building offers a blend of historical charm and modern amenities, making it ideal for a variety of restaurant or banquet-related businesses. The property is zoned for commercial use and is located in Erie County, NY, with a convenient zip code of 14219. This is a rare chance to acquire a well-established, high-visibility property in a desirable location. The multiple tenancy structure allows for flexibility in usage and potential for expansion. The property's size and features make it suitable for a large-scale restaurant operation or a combination of restaurant and banquet services. Don't miss this opportunity to own a piece of Buffalo's rich history and vibrant waterfront scene.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $610,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $725,000
      Market price range: $726k - $2.96M
      AI Estimate
      $823,000
      Market price range: $823k - $1.95M

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

    Location Insight

    • Map
    • Local Demand
    City
    Blasdell
    County
    Erie
    State
    New York
    Longitude
    -78.8554
    Latitude
    42.7819
    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
    $58,200
    $434,800
    $493,000
    -
    $181,875
    $1,358,750
    $1,540,625

    Comparable in this City

    • Value Estimation
      $265,000
      10,640 SF

      3785 Park Ave

      RESTAURANT • 10,640 SF
      3785 Park Ave, Buffalo, NY 14219-1806
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    • Value Estimation
      $155,000
      5,080 SF

      4409 Park Ave

      RESTAURANT • 5,080 SF
      4409 Park Ave, Blasdell, NY 14219-2821
      View Details
    • Value Estimation
      $465,000
      1,380 SF

      4038 Hoover Rd

      RESTAURANT • 1,380 SF
      4038 Hoover Rd, Blasdell, NY 14219-2322
      View Details
    • Value Estimation
      $660,000
      4,996 SF

      3454 Mckinley Pkwy

      RESTAURANT • 4,996 SF
      3454 Mckinley Pkwy, Blasdell, NY 14219-2130
      View Details
    • Value Estimation
      $80,000
      1,760 SF

      3200 Lk Shr Rd

      RESTAURANT • 1,760 SF
      3200 Lk Shr Rd, Buffalo, NY 14219-1410
      View Details
    • Value Estimation
      $250,000
      4,800 SF

      3387 Park Ave

      RESTAURANT • 4,800 SF
      3387 Park Ave, Buffalo, NY 14219-1029
      View Details

    Similar Nearby for Sale

    • $700,000

      Turnkey Restaurant on Lake Erie

      Turnkey restaurant with 455' Lake Erie waterfront.
      4038 Hoover Rd, Buffalo, NY 14219
      View Details
    • $700,000

      Turnkey Restaurant on Lake Erie

      Turnkey restaurant with 455' of Lake Erie waterfront.
      4038 Hoover Rd, Buffalo, NY 14219
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    • Contact for pricing
      14,554 SF

      Corner Property with Restaurant Space

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      Restored Retro Diner For Sale

      Fully restored, modern retro diner with established clientele for sale.
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      Lake Shore Auto Shop - Buffalo, NY

      Prime Auto Shop, High Traffic Area, Renovation Needed
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      Auto Shop with Service Bays

      Auto shop with three service bays, in need of renovation.
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    Similar Nearby for Lease

    • $10 SF/Yr
      13,692 SF

      Waterfront Restaurant with Banquet Room

      Spectacular waterfront restaurant with banquet room and large patio.
      3800 Hoover Rd, Blasdell, NY 14219
      View Details
    • Contact for pricing
      1,500 SF

      Lakeshore Road Retail Opportunity

      Prime Buffalo Retail Space - 1500 sq ft
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      View Details
    • Contact for pricing

      Blasdell Retail or Office Space

      High-traffic location suitable for retail or office use.
      3876 South Park Ave, Blasdell, NY 14219
      View Details
    • Contact for pricing

      Retail/Office Space in Hamburg, NY

      Freestanding building suitable for retail, medical, or office uses.
      4141-4151 Mckinley Pkwy, Buffalo, NY 14219
      View Details
    • Contact for pricing
      28,813 SF

      Blasdell Retail Center Investment

      Prime Retail Space, High Traffic Area
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      View Details
    • $15 SF/Yr
      16,004 SF

      Lake Shore Road Office Spaces

      Blasdell, NY Office Suites Available
      3218 Lake Shore Rd, Blasdell, NY 14219
      View Details
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    Blasdell, NY 14219
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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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