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

    3871 Harlem Rd Buffalo, NY 14215

    • Office buildings
    • 20,000 SF
    • 0.45 lot acres
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2408868
    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

    • Parkside medical / Doctor
    • Parkside Medical Anesthesia / Medical Clinic / Medical Group
    • Karen M Pellicore / Family Practice Physician / Nurse Practitioner
    • Nesco Resource / Employment Agency
    • VBC Lighting LLC, Buffalo Branch / Lighting Consultant / Home Goods Store

    Property Details for 3871 Harlem Rd

    Year built
    1969
    Lot size
    0.45 lot acres
    Property size
    20,000 SF
    Zone code
    05C
    Property type
    Office buildings
    APN
    143089 80.17-4-1.2
    APU
    1430898017412

    Description

    This exceptional two-story, 20,000-square-foot freestanding office building, located at 3871 Harlem Road in Cheektowaga, NY, offers a prime opportunity for businesses seeking executive office space. Situated on a 0.45-acre lot, the building boasts excellent visibility and accessibility, with ample parking available. Built in 1969 and extensively renovated in 2020, the property features a convenient elevator servicing the second floor. Currently, two vacant spaces are available on the second floor, measuring approximately 900 and 1700 square feet. The minimum divisible space is 1,014 square feet, with a maximum contiguous space of 1,700 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,205,000
      Market price range: $1.37M - $3.41M
      AI Estimate
      $1,206,000
      Market price range: $553k - $1.83M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,320,000
      Current use
      RETAIL STORES
      $2,870,000
      Change: +24% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,595,000
      Change: +12% Conversion: Difficult
      RESTAURANT
      $2,475,000
      Change: +7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,945,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7837
    Latitude
    42.949
    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
    $75,000
    $1,085,000
    $1,160,000
    -
    $82,418
    $1,192,307
    $1,274,725

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      3,140 SF

      374 Cleveland Dr, Unit 380

      OFFICE BUILDING • 3,140 SF
      374 Cleveland Dr, Buffalo, NY 14215-1922
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    • Value Estimation by Request
      4,198 SF

      3101 Bailey Ave

      OFFICE BUILDING • 4,198 SF
      3101 Bailey Ave, Buffalo, NY 14215-1625
      View Details
    • Value Estimation
      $1,165,000
      12,336 SF

      1660 Kensington Ave

      OFFICE BUILDING • 12,336 SF
      1660 Kensington Ave, Buffalo, NY 14215-1437
      View Details
    • Value Estimation by Request
      676 SF

      307 Millicent Ave

      OFFICE BUILDING • 676 SF
      307 Millicent Ave, Buffalo, NY 14215-2983
      View Details
    • Value Estimation
      $800,000
      5,610 SF

      3435 Bailey Ave

      OFFICE BUILDING • 5,610 SF
      3435 Bailey Ave, Buffalo, NY 14215-1145
      View Details

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      Redevelopment Opportunity on Corner Location

      Office, retail, or mixed-use spaces available for sale.
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      Versatile Retail/Office/Storage Space Available

      4,355 SF retail/office/storage space with excellent access.
      3761 Harlem Rd, Buffalo, NY 14215
      View Details

    Similar Nearby for Lease

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    • $1,650 /Mo

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      Office space featuring reception, waiting areas, and multiple offices.
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      Versatile Office Unit in Buffalo

      Office unit for lease with oversized reception area and ample parking.
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      Office/retail/mixed-use spaces for lease with ample parking.
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    • $13 SF/Yr
      20,000 SF

      Harlem Road Executive Offices

      Prime Buffalo Office Space, Newly Renovated
      3871 Harlem Rd, Buffalo, NY 14215
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    • Contact for pricing

      Retail/Office Space Near Downtown Buffalo

      Nicely finished retail/office space with quick access to Buffalo.
      3807 Harlem Rd, Buffalo, NY 14215
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    3871 Harlem Rd
    Buffalo, NY 14215
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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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