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Property profile & analytics
FOR SALE
Bars & Pubs
49 Illinois St Buffalo, NY 14203
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US63-5791133
For Sale
1 / 8
Contact for pricing
49 Illinois St, Buffalo, NY 14203
View Listing →
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1900
Total area
9,096 SF
Lot
0.14 ac (5,940 SF)
Zoning code
N-1C
APN
140200 122.05-4-6
UPID
US63-5791133
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
-
Buffalo Iron Works Restaurant
-
Twenty6 Productions Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
49 Illinois Real Estate LLC · 13 yrs held
49 Illinois Real Estate LLC
since 2013
4 recorded transactions
Zoning & alternative use
N-1C · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,039
Tax year 2023
Assessed value
$474,000
Assessed 2023
Previous assessed
$474,000
+0.0% YoY
Effective rate
0.43%
On assessed value
Assessed land
$67,100
Assessed improvement
$406,900
Land market value
$95,857
Improvement market value
$581,286
Total market value
$677,143
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
For Sale
Year built
1900
Heating
NONE
Buildings
1
Stories
2
Total area
9,096 SF
Lot
0.14 ac (5,940 SF)
Zoning code
N-1C
APN
140200 122.05-4-6
UPID
US63-5791133
Jurisdiction
ERIE
Zoning & alternative use
N-1C · Buffalo, NY
Zoning N-1C · permitted uses
N-1C · 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
1900
Heating
NONE
Stories
2
Buildings
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
49 Illinois Real Estate LLC
Entity
Mailing address
95 PERRY ST STE #104, BUFFALO, NY 14203-3030
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2013
$500,000
49 Illinois Real Estate LLC
1876 Buehl Block LLC
Grant Deed
$660,000 · Evans Bank NA
Apr 14, 2008
$397,500
1876 Buehl Block LLC
Hakanaw LLC
Warranty Deed
—
Feb 25, 2005
$91,165
Hakanaw LLC
Buffalo Wholesale Supply Co In
Trustees Deed
—
—
—
49 Illinois Real Estate LLC
—
Deed Of Trust
related
$162,500 · Evans Bk NA
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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