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    Property profile & analytics

    3936 Seneca St Buffalo, NY 14224-3411

    • Investment properties
    • 2,867 SF
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Mar 25, 2024
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2827414
    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

    • Augustine Timothy A DDS / Dentist
    • Robertson Barb / Dentist
    • Maskulinski Ann Marie / Dentist

    Property Details for 3936 Seneca St

    Year built
    1959
    Lot size
    0.53 lot acres
    Property size
    2,867 SF
    Zone code
    06 - INDUSTRIAL
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    146800 143.08-1-39
    APU
    14680014308139

    Description

    This exceptional mixed-use property, located at 3936 Seneca Street in West Seneca, NY, presents a unique investment opportunity. The 3,026 square foot building, constructed in 1955 and renovated in 1976, sits on a 0.48-acre lot and is zoned C-1, allowing for a variety of commercial uses. The property features a former dental office and a three-bedroom apartment, offering flexibility for owner-occupancy or rental income. The apartment includes an attached two-car garage, while the property boasts an additional four parking spaces. The building is a two-story structure with a large backyard visible from bay windows in the former dental office. Its prime location on Seneca Street, across from Southgate Plaza, ensures high visibility and accessibility. This versatile property is ideal for a small business or professional office user seeking both workspace and residential accommodations or a commercial enterprise looking to maximize its space. The asking price is $429,000. This is a rare opportunity to acquire a well-situated mixed-use building in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $266,000
      Market price range: $134k - $428k
      AI Estimate
      $280,000
      Market price range: $168k - $428k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $290,000
      Current use
      RETAIL STORES
      $410,000
      Change: +42% Conversion: Easy
      OFFICE BUILDING
      $385,000
      Change: +33% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $370,000
      Change: +28% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $280,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.7574
    Latitude
    42.8304
    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
    $7,246
    $54,300
    $23,300
    $77,600
    -
    $208,846
    $89,616
    $298,462

    Comparable in this City

    • Value Estimation
      $480,000
      7,452 SF

      1293 Un Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 7,452 SF
      1293 Un Rd, West Seneca, NY 14224-2941
      View Details
    • Value Estimation
      $330,000
      3,408 SF

      3729 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,408 SF
      3729 Seneca St, Buffalo, NY 14224-3452
      View Details
    • Value Estimation
      $320,000
      2,208 SF

      3670 Clinton St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,208 SF
      3670 Clinton St, Buffalo, NY 14224-1545
      View Details
    • Value Estimation
      $260,000
      3,304 SF

      1412 Un Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,304 SF
      1412 Un Rd, West Seneca, NY 14224-2948
      View Details
    • Value Estimation
      $245,000
      1,541 SF

      1888 Un Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,541 SF
      1888 Un Rd, West Seneca, NY 14224-2015
      View Details
    • Value Estimation
      $285,000
      2,031 SF

      2233 Un Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,031 SF
      2233 Un Rd, West Seneca, NY 14224-1441
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Building with Apartments

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    • $649,900
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      West Seneca Car Wash Business

      Profitable car wash, high traffic area.
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      Clinton Street Funeral Home

      West Seneca, NY Funeral Home - $749,000
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      Prime Corner Location Opportunity

      Corner lot with high visibility, suitable for retail or restaurant.
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      Remodeled Two-Family Home

      Two-unit home with remodeled first floor and updated second floor.
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      West Seneca Former Medical Office

      36,346 SF medical office space for sale/lease.
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    Similar Nearby for Lease

    • $200 SF/Yr
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      West Seneca Retail/Office Space

      900 SF, prime Union Rd location. Full build-out available.
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    • $1,500 /Mo
      1,000 SF

      Office Space Near I-90 Thruway

      Office space for rent with high visibility and ample parking.
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    • Contact for pricing

      West Seneca Flex Space Available

      Flex office and warehouse/distribution facility available for lease.
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      View Details
    • Contact for pricing
      2,480 SF

      Suburban Office Space Available

      Highly visible office space on Seneca Street near expressway.
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    • $15 SF/Yr
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      Turnkey Medical Office Space

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      Professional Office Space Available

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      View Details
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    3936 Seneca St
    Buffalo, NY 14224-3411
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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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