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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Office buildings
437 Franklin St Buffalo, NY 14202-1337
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-0222440
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1910
Total area
5,129 SF
Lot
0.13 ac (5,800 SF)
Zoning code
N-2E
APN
140200 100.78-4-25
UPID
US63-0222440
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
-
Joe Slade White & Co Engineering Consultant
-
The Parlour of Buffalo Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$530k
Owner & transaction history
437 Franklin LLC · 1 yrs held
437 Franklin LLC
since 2024
Last sale
$530,000
6 recorded transactions
Zoning & alternative use
N-2E · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$735,000
+23.8%
Neighborhood: shopping center
$665,000
+11.9%
Restaurant
$635,000
+6.8%
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 Buffalo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Buffalo 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
$530,000
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$595,000
Current use
RETAIL STORES
$735,000
Change: +24% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$665,000
Change: +12% · Conversion: Difficult
RESTAURANT
$635,000
Change: +7% · Conversion: Moderate
COMMERCIAL (GENERAL)
$630,000
Change: +6% · Conversion: Easy
AUTO REPAIR, GARAGE
$500,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $530k (Nov 22 2024)
Last sale anchor
$530k
Nov 22 2024
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
$103 / 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
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,754
Tax year 2023
Assessed value
$530,000
Assessed 2023
Previous assessed
$530,000
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$58,000
Assessed improvement
$472,000
Land market value
$82,857
Improvement market value
$674,286
Total market value
$757,143
Applied tax rate
140,200.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1910
Heating
NONE
Buildings
1
Stories
2
Total area
5,129 SF
Lot
0.13 ac (5,800 SF)
Zoning code
N-2E
APN
140200 100.78-4-25
UPID
US63-0222440
Jurisdiction
ERIE
Zoning & alternative use
N-2E · Buffalo, NY
Zoning N-2E · permitted uses
N-2E · Buffalo, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Buffalo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$595,000
RETAIL STORES
Est. value
$735,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$665,000
RESTAURANT
Est. value
$635,000
COMMERCIAL (GENERAL)
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$500,000
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1910
Heating
NONE
Stories
2
Buildings
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
437 Franklin LLC
Entity
Mailing address
20 WW AVE, BUFFALO, NY 14201-2117
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
$530,000
437 Franklin LLC
Jdm2 LLC
Warranty Deed
$340,000 · Cornerstone Community FCU
Sep 14, 2021
$432,500
Jmd2 LLC
T D Ventures LLC
Bargain And Sale Deed
$346,000 · The Upstate National Bank
Apr 21, 2017
—
Harbor Towne Group LLC
—
Grant Deed
related
$3,660,000 · Bank Of Castile
Dec 15, 2005
$265,900
Td Ventures LLC
Blumco INC
Warranty Deed
—
—
—
T D Ventures LLC
—
Deed Of Trust
related
$215,000 · Blumco INC
—
—
Harbor Towne Group LLC
—
Loan Modification
related
$3,660,000 · Bank Of Castile
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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