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Property profile & analytics
OFF-MARKET
Estimated value
$7,270,000
Hotels
401 Buffalo Ave, Niagara Falls, NY 14303-1318
Entity Owned
16-yr Hold
Free & Clear
Property ID
US63-5980914
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1963
Total area
160,807 SF
Lot
3.8 ac (165,528 SF)
Zoning code
R4-A
APN
291100 159.13-2-9
UPID
US63-5980914
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Parkway Prime Steakhouse & Lounge Restaurant
-
DoubleTree by Hilton Hotel Niagara Falls New York Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.73M
Blend (final)
Blend
$7.27M
Owner & transaction history
Merani Hospity INC · 16 yrs held
Merani Hospity INC
since 2009
7 recorded transactions
Zoning & alternative use
R4-A · Niagara Falls, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$11.9M
+169.6%
Retail stores
$7.4M
+68.2%
Office building
$5.8M
+31.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niagara Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niagara Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,410,000
Current use
INDUSTRIAL (GENERAL)
$11,885,000
Change: +170% · Conversion: Difficult
RETAIL STORES
$7,415,000
Change: +68% · Conversion: Difficult
OFFICE BUILDING
$5,805,000
Change: +32% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,675,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$7.27M
Range $6.54M – $8.00M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$45 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$7,175,500
Assessed 2023
Previous assessed
$7,175,500
+0.0% YoY
Assessed land
$413,800
Assessed improvement
$6,761,700
Land market value
$766,298
Improvement market value
$12,521,702
Total market value
$13,288,000
Applied tax rate
291,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1963
Heating
NONE
Cooling
CENTRAL
Stories
4
Total area
160,807 SF
Lot
3.8 ac (165,528 SF)
Zoning code
R4-A
APN
291100 159.13-2-9
UPID
US63-5980914
Jurisdiction
NIAGARA
Zoning & alternative use
R4-A · Niagara Falls, NY
Zoning R4-A · permitted uses
R4-A · Niagara Falls, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Niagara Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$4.4M
INDUSTRIAL (GENERAL)
Est. value
$11.9M
RETAIL STORES
Est. value
$7.4M
OFFICE BUILDING
Est. value
$5.8M
WAREHOUSE, STORAGE
Est. value
$4.7M
HOTEL/MOTEL Current
INDUSTRIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Heating
NONE
Cooling
Yes
Stories
4
Lot
3.8 ac
Current owner
From public records · entity-resolved
Merani Hospity INC
Entity
Free & Clear · 16 yrs held
Mailing address
7001 BUFFALO AVE, NIAGARA FALLS, NY 14304-4001
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2026
—
Merani Hospitality INC
—
Deed
related
$1,485,000 · Five Star Bank
Oct 31, 2019
—
Merani Hospitality INC
—
Deed
related
$3,541,888 · Five Star Bk
Dec 14, 2016
—
Merani Hospitality INC
—
Deed
related
$7,100,000 · Five Star Bk
Nov 14, 2014
—
Merani Hospitality INC
—
Trustees Deed
related
$15,000,000 · Five Star Bk
Sep 23, 2009
$1,950,000
Merani Hospity INC
Niagara Hospities LLC
Grant Deed
—
Dec 29, 2005
$3,300,000
Niagara Hospitalities LLC
General Electric Capital Corp
Grant Deed
$2,640,000 · General Electric Capital Corp
Mar 14, 2005
$2,700,000
General Electric Capital Corp
Auctioneer Of Niagara County
Trustees Deed
related
—
—
—
Niagara Countye Indl Dev Agcy
—
Deed Of Trust
related
—
—
—
Merani Hospitality INC
—
Deed Of Trust
related
$3,541,888 · Five Star Bk
—
—
Merani Hospitality INC
—
Loan Modification
related
$24,000,000 · Five Star Bk
—
—
Merani Hospitality INC
—
Loan Modification, Consolidation And Extension
related
$22,100,000 · Five Star Bk
—
—
Merani Hospitality INC
—
Deed Of Trust
related
$7,100,000 · Five Star Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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