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    Property profile & analytics

    401 Amherst St Buffalo, NY 14215-1529

    • Distribution properties
    • 15,726 SF
    • 3.63 lot acres
    OFF-MARKET
    Last Sale
    Jun 20, 2023
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3798557
    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

    • Snyder Tours / Travel Agency
    • Clean Energy / Gas Station
    • The Cedar Bus Co. / Transportation Service
    • Cedar Mobility / Transportation Service / Transportation Infrastructure

    Property Details for 401 Amherst St

    Year built
    1996
    Lot size
    3.63 lot acres
    Property size
    15,726 SF
    Zone code
    D-IL
    Property type
    Distribution properties
    APN
    140200 90.23-6-1.112
    APU
    140200902361112

    Description

    This exceptional investment opportunity presents a 16,821-square-foot, Class A industrial property located at 401 E. Amherst Street in Buffalo, New York. The single-story building, constructed in 1996 with renovations in 2020, sits on a 3.56-acre lot and boasts 185 parking spaces. The property features a mix of office and industrial space, including approximately 13,100 square feet of finished office space and 3,700 square feet of industrial space, plus a separate 1,100-square-foot building. A key feature is an on-site compressed natural gas (CNG) station, installed in 2015, with an annual capacity of 2 million gallons. The property is currently 100% occupied by two tenants under a triple-net (NNN) lease with a remaining term of 8.1 years, expiring December 31, 2032, and featuring 2% annual rent bumps. The lease commenced January 1, 2023, and the asking price is $5,260,800, representing a 7.5% cap rate and a price per square foot of $312.75. Recent improvements include a new roof, HVAC system, parking lot, paint, flooring, bathrooms, and kitchen (2020), and new lighting (2019). The property is zoned D-IL Light Industrial and enjoys a convenient location, one mile from Route 33/Kensington Expressway and Erie County Medical Center, midway between downtown Buffalo and Buffalo Niagara International Airport. The property offers a strong, stable income stream with significant upside potential. The building features a 25-foot ceiling height.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $342,000
      Market price range: $232k - $591k

    • Alternative Use

      Use
      Estimation
      TRUCK TERMINAL (MOTOR FREIGHT)
      $365,000
      Current use
      RETAIL STORES
      $520,000
      Change: +43% Conversion: Difficult
      WAREHOUSE, STORAGE
      $485,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $460,000
      Change: +26% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8231
    Latitude
    42.9389
    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
    $28,843
    $59,600
    $490,400
    $550,000
    -
    $85,143
    $700,571
    $785,714

    Comparable in this City

    • Value Estimation
      $240,000
      0.32 Acres

      1545 Kensington Ave

      BUS TERMINAL • 0.32 Acres
      1545 Kensington Ave, Buffalo, NY 14215
      View Details
    • Value Estimation
      $245,000
      2,734 SF

      51 Federal Ave

      BUS TERMINAL • 2,734 SF
      51 Federal Ave, Buffalo, NY 14215
      View Details
    • Value Estimation by Request

      60 Clyde Ave

      Distribution properties
      60 Clyde Ave, Buffalo, NY 14215
      View Details
    • Value Estimation
      $240,000
      8,901 SF

      649 Wyoming Ave

      MANUFACTURING (LIGHT) • 8,901 SF
      649 Wyoming Ave, Buffalo, NY 14215-2631
      View Details
    • Value Estimation
      $240,000
      6,663 SF

      815 Kensington Ave

      MANUFACTURING (LIGHT) • 6,663 SF
      815 Kensington Ave, Buffalo, NY 14215
      View Details
    • Value Estimation
      $280,000
      2,393 SF

      1203 Northland Ave

      WAREHOUSE, STORAGE • 2,393 SF
      1203 Northland Ave, Buffalo, NY 14215
      View Details

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      Mixed-use building featuring retail, warehouse, and apartment spaces.
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    Similar Nearby for Lease

    • $7 SF/Yr
      20,000 SF

      60 Clyde Ave Industrial Space

      Flexible Warehouse Space for Lease in Buffalo
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    • Contact for pricing

      Former Manufacturing Site Available

      Manufacturing/warehouse space for lease with ample parking and convenient location.
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      View Details
    • Contact for pricing
      6,700 SF

      Office/Production Space for Lease

      6,700 SF flex space with expansion potential.
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      View Details
    • $7 SF/Yr
      20,000 SF

      Industrial Warehouse Space Available

      20,000 SF warehouse space for lease in Buffalo, NY.
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      View Details
    • $1,200,000
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      Industrial Space with Overhead Cranes

      Industrial space featuring overhead cranes, convenient location, and ample power.
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      View Details
    • Contact for pricing
      9,200 SF

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      9200 SF retail space in a densely populated neighborhood.
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      View Details
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    401 Amherst St
    Buffalo, NY 14215-1529
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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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