New search
Property profile & analytics
FOR LEASE
Turn key restaurants
471 Elmwood Ave Buffalo, NY 14222
Entity Owned
10-yr Hold
Free & Clear
Property ID
US63-2756872
For Lease
1 / 5
$25 SF/Yr
471 Elmwood Ave, Buffalo, NY 14222
View Listing →
Property summary
AI-generated overview
This exceptional retail property at 471 Elmwood Avenue in Buffalo, NY, offers 16,560 square feet of space across three suites in a two-story building. Originally constructed in 1910 and renovated in 1980, this building boasts a desirable street-level retail presence in the vibrant Elmwood Village neighborhood. The property features convenient off-street parking in the rear, supplementing readily available on-street parking and nearby garage options at 489 Elmwood. A basement provides valuable storage space for tenants. The building's corner location offers excellent visibility and accessibility within a thriving commercial district. Elmwood Village is known for its mix of local businesses and national retailers, including Starbucks, Bank of America, M&T Bank, and Panera Bread. Its proximity to Buffalo State College and Delaware Park, a renowned Olmsted-designed park, contributes to a high concentration of young, educated professionals. This makes 471 Elmwood Avenue an ideal location for businesses seeking a strong presence in one of Upstate New York's most sought-after neighborhoods. The zip code is 14222.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1920
Total area
11,440 SF
Lot
0.13 ac (5,504 SF)
Zoning code
N-2C
APN
140200 100.46-1-57
UPID
US63-2756872
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
-
Body Solace Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$871k
Blend (final)
Blend
$635k
Owner & transaction history
471 Elmwood Group LLC · 10 yrs held
471 Elmwood Group LLC
since 2016
2 recorded transactions
Zoning & alternative use
N-2C · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$56 / 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
$3,898
Tax year 2023
Assessed value
$750,000
Assessed 2023
Previous assessed
$750,000
+0.0% YoY
Effective rate
0.52%
On assessed value
Assessed land
$55,000
Assessed improvement
$695,000
Land market value
$78,571
Improvement market value
$992,858
Total market value
$1,071,429
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1920
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
11,440 SF
Lot
0.13 ac (5,504 SF)
Zoning code
N-2C
APN
140200 100.46-1-57
UPID
US63-2756872
Jurisdiction
ERIE
Zoning & alternative use
N-2C · Buffalo, NY
Zoning N-2C · permitted uses
N-2C · 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.
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
471 Elmwood Group LLC
Entity
Free & Clear · 10 yrs held
Mailing address
617 MAIN ST STE #200, BUFFALO, NY 14203-1400
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2022
—
257 Elm Wood Group LLC
—
Deed
related
$1,000,000 · Broadview FCU
Feb 5, 2016
$1,250,000
471 Elmwood Group LLC
477 Elmwood INC
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
