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

    4408 Milestrip Rd Buffalo, NY 14219

    • Super regional malls
    • 165,478 SF
    • 9.79 lot acres
    For Lease
    View listing
    Last Sale
    Apr 21, 2023
    $23,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1974156
    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

    • Chuck E. Cheese / Pizza Restaurant / Amusement Center
    • Tim Hortons / Coffee Shop / Bakery
    • BJ's Tire Center / Tire Shop / Propane Supplier
    • BJ's Bakery / Bakery
    • SVS Vision Optical Centers / Contact Lenses Supplier / Optician

    Property Details for 4408 Milestrip Rd

    Year built
    1991
    Lot size
    9.79 lot acres
    Property size
    165,478 SF
    Property type
    Super regional malls
    APN
    144889 151.18-5-6
    APU
    1448891511856

    Description

    BJ's Plaza, located at 4408 Milestrip Rd in Buffalo, NY 14219, offers a prime retail opportunity within a bustling shopping center. This 18,000 square foot storefront is part of a larger 176,045 square foot complex situated in Erie County's primary retail corridor, providing excellent visibility and accessibility. The property boasts convenient access from I-90, ensuring high traffic flow and customer convenience. The center is anchored by well-established national tenants including BJ's Wholesale Club, OfficeMax, Chuck E. Cheese, and Party City, creating a strong synergy and drawing a significant customer base. Built in 1991, the plaza sits on 19.57 acres of land and offers ample parking with 1000 spaces available for shoppers and employees. This multi-tenant property presents a unique chance to establish or expand a retail business in a high-demand location with established anchors and significant foot traffic. The property is classified as a retail storefront and is part of a larger retail center. The property's location and established tenant mix provide a strong foundation for success. This is an exceptional opportunity for businesses seeking high visibility and convenient access in a thriving retail environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8145
    Latitude
    42.791
    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
    $979,000
    $5,921,000
    $6,900,000
    -
    $3,059,375
    $18,503,125
    $21,562,500

    Comparable in this City

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      $390,000
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      3766 Mckinley Pkwy

      SHOPPING CENTER, STRIP CENTER • 32,844 SF
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    • Value Estimation
      $70,000
      19,712 SF

      4154 Mckinley Pkwy

      SHOPPING CENTER, STRIP CENTER • 19,712 SF
      4154 Mckinley Pkwy, Buffalo, NY 14219-2995
      View Details
    • Value Estimation by Request
      28,578 SF

      4405 Milestrip Rd

      SHOPPING CENTER, STRIP CENTER • 28,578 SF
      4405 Milestrip Rd, Buffalo, NY 14219-2000
      View Details
    • Value Estimation
      $645,000
      109,619 SF

      4271 Lk Ave

      SHOPPING CENTER, STRIP CENTER • 109,619 SF
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      View Details
    • Value Estimation
      $4,740,000
      12,036 SF

      3734 Park Ave

      MINI-MALL • 12,036 SF
      3734 Park Ave, Buffalo, NY 14219-1802
      View Details
    • Value Estimation
      $285,000
      12,000 SF

      3820 Mckinley Pkwy

      MINI-MALL • 12,000 SF
      3820 Mckinley Pkwy, Buffalo, NY 14219-3006
      View Details

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    • $379,000
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      Prime Buffalo Commercial Land

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      176,045 SF

      BJ's Plaza Retail Space Available

      High-traffic Buffalo retail storefront, 18,000 sq ft.
      4408 Milestrip Rd, Buffalo, NY 14219
      View Details
    • Contact for pricing
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      Blasdell Retail Center Investment

      Prime Retail Space, High Traffic Area
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    Buffalo, NY 14219
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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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