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    Property profile & analytics

    465 Cornwall Ave Buffalo, NY 14215

    • Warehouses
    • 3,318 SF
    • 2.59 lot acres
    For Sale
    View listing
    $1,050,000
    Last Sale
    May 26, 2022
    $600,000
    Value Estimations
    Cap Rate Potential
    5.2%
    Warehouses
    Location Intelligence
    Property ID
    US63-0066057
    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

    • Plastic Systems Inc / Plastic Injection Molding Service

    Property Details for 465 Cornwall Ave

    Year built
    1940
    Lot size
    2.59 lot acres
    Property size
    3,318 SF
    Zone code
    D-IL
    Property type
    Warehouses
    APN
    140200 90.63-3-1.1
    APU
    1402009063311

    Description

    This exceptional Buffalo, NY industrial property, located at 465 Cornwall Ave, offers 18,551 square feet of versatile space, ideal for manufacturing, cold storage, or warehousing. The property comprises two buildings: a 15,223 square foot warehouse and a 3,328 square foot office building. Features include a clear span design, two grade-level loading docks, an 18-foot ceiling height, and ample outdoor storage on a 2.59-acre lot. Built in 1945, this Class B property is available for occupancy January 1, 2024, and is priced at $1,050,000 ($56.60/sq ft). Its strategic location at the corner of Cornwall Avenue and Sussex Street provides easy access to major roadways, including the William L. Gaiter Parkway and Kensington Expressway, ensuring convenient transportation and logistics. The property's proximity to Bailey Avenue offers access to various amenities. This presents a rare opportunity for businesses seeking a well-located, spacious industrial facility with significant expansion potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $540,000
      ML approach
      $530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $470,000
      6.5%
      $435,000
      7%
      $405,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $475,000
      NEIGHBORHOOD: SHOPPING CENTER
      $430,000
      OFFICE BUILDING
      $385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.821
    Latitude
    42.9277
    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
    $1,403
    $53,300
    $216,700
    $270,000
    -
    $76,143
    $309,571
    $385,714

    Comparable in this City

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      3,986 SF

      647 Wyoming Ave

      WAREHOUSE, STORAGE • 3,986 SF
      647 Wyoming Ave, Buffalo, NY 14215
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      3269 Bailey Ave

      WAREHOUSE, STORAGE • 2,360 SF
      3269 Bailey Ave, Buffalo, NY 14215
      View Details

    Similar Nearby for Sale

    • $1,050,000
      18,551 SF

      Buffalo Industrial Warehouse Opportunity

      18,551 SF Warehouse, 2.59 Acres
      465 Cornwall Ave, Buffalo, NY 14215
      View Details
    • Contact for pricing
      21,424 SF

      Warehouse Space Near Revitalization Project

      Warehouse space available near Northland Training Center.
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    • $1,390,000
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      Buffalo Industrial Property

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      Finished Office with Storage Garage

      Office space with quick access to Buffalo and surrounding areas.
      3764 Harlem Rd, Buffalo, NY 14215
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    • $325,000
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      Industrial Property with Equipment Included

      Block structure with cold storage and equipment for commercial roofing.
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    Similar Nearby for Lease

    • Contact for pricing

      Former Manufacturing Site Available

      Manufacturing/warehouse space for lease with ample parking and convenient location.
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    • $7 SF/Yr
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      60 Clyde Ave Industrial Space

      Flexible Warehouse Space for Lease in Buffalo
      60 Clyde Ave, Buffalo, NY 14215
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    • $1,200,000
      54,881 SF

      Industrial Space with Overhead Cranes

      Industrial space featuring overhead cranes, convenient location, and ample power.
      50 Wecker St, Buffalo, NY 14215
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    • $7 SF/Yr
      20,000 SF

      Industrial Warehouse Space Available

      20,000 SF warehouse space for lease in Buffalo, NY.
      80 Clyde Ave, Buffalo, NY 14215
      View Details
    • Contact for pricing
      6,700 SF

      Office/Production Space for Lease

      6,700 SF flex space with expansion potential.
      501 Cornwall Ave, Buffalo, NY 14215
      View Details
    • Contact for pricing
      9,200 SF

      Former Dollar General Retail Space

      9200 SF retail space in a densely populated neighborhood.
      3079 Bailey Ave, Buffalo, NY 14215
      View Details
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    Buffalo, NY 14215
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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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