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    507 Niagara St Buffalo, NY 14201
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    Property profile & analytics

    507 Niagara St, Buffalo, NY 14201

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    • Commercial real estate
    • 11,832 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US63-3379540
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 507 Niagara St

    Year built
    1910
    Lot size
    0.14 lot acres
    Property size
    11,832 SF
    Property type
    Commercial real estate

    Description

    This exceptional two-story apartment building, located at 507 Niagara Street in Buffalo, NY, presents a compelling investment opportunity. Boasting 11,832 square feet on a 0.14-acre lot, this 1910 building underwent a complete renovation in 2023. The property currently enjoys 100% occupancy with sixteen fully renovated one- and two-bedroom units. Each apartment features high-end finishes including stainless steel appliances, granite countertops, and hardwood floors. Modern amenities such as in-unit laundry, air conditioning, heating, renovated fireplaces, kitchen islands, and high-speed internet access are included. Ample storage space is available in each unit. The building also offers three parking spaces. Its prime location in downtown Buffalo provides convenient access to numerous amenities, including the D'Youville Campus and grocery stores like Tops Friendly Markets. This property offers a rare chance to acquire a fully renovated, high-performing multifamily asset in a thriving urban setting. The building's strong occupancy rate and desirable features make it an attractive investment for both seasoned and new investors seeking a stable and appreciating asset in a vibrant city. The property's excellent condition and modern amenities ensure a strong rental income stream and potential for future appreciation. This is a turnkey opportunity to own a piece of Buffalo's revitalized downtown core.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8884476
    Latitude
    42.8978643

    Comparable in this City

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      Mixed-Use Building with Mini Mart

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      Niagara Street Multifamily Investment Opportunity

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    • $600,000
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      Mixed-Use Building in Allentown District

      8,375 SF mixed-use building with established restaurant and apartment.
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      Thirteen Units in Buffalo Portfolio

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      Mixed-Use Property in Prime Location

      Versatile property with commercial space and residential apartments.
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      Allentown Multifamily Investment Opportunity

      16-unit multifamily property in Buffalo's Allentown neighborhood.
      84 Mariner St, Buffalo, NY 14201
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    Similar Nearby for Sale

    • $595,000

      Mixed-Use Building with Mini Mart

      Mixed-use building with retail and residential units for sale.
      568 Niagara St, Buffalo, NY 14201
      View Details
    • Contact for pricing
      Pending

      Niagara Street Multifamily Investment Opportunity

      Two buildings with potential for 14 apartments near D’Youville University.
      539 Niagara St, Buffalo, NY 14201
      View Details
    • $600,000
      8,375 SF

      Mixed-Use Building in Allentown District

      8,375 SF mixed-use building with established restaurant and apartment.
      245 Allen St, Buffalo, NY 14201
      View Details
    • $1,250,000

      Thirteen Units in Buffalo Portfolio

      Thirteen-unit multifamily portfolio in Buffalo's West Side/Allentown corridor.
      308 Virginia St, Buffalo, NY 14201
      View Details
    • $429,900
      Pending

      Mixed-Use Property in Prime Location

      Versatile property with commercial space and residential apartments.
      41 Elmwood Ave, Buffalo, NY 14201
      View Details
    • Contact for pricing

      Allentown Multifamily Investment Opportunity

      16-unit multifamily property in Buffalo's Allentown neighborhood.
      84 Mariner St, Buffalo, NY 14201
      View Details
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    Buffalo, NY 14201
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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.

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