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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Banks
531 Elmwood Ave Buffalo, NY 14222
Entity Owned
4-yr Hold
Free & Clear
Property ID
US63-3664738
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1975
Total area
3,916 SF
Lot
0.21 ac (9,000 SF)
Zoning code
N-2C
APN
140200 100.38-4-58
UPID
US63-3664738
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$845k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$880k
Owner & transaction history
531 Elmwood Ave LLC · 4 yrs held
531 Elmwood Ave LLC
since 2022
Last sale
$925,000
3 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
$830,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$700,000
Current use
RETAIL STORES
$560,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $925k (Apr 28 2022)
Last sale anchor
$925k
Apr 28 2022
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
$225 / 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
$3,638
Tax year 2023
Assessed value
$532,000
Assessed 2023
Previous assessed
$700,000
-24.0% YoY
Effective rate
0.68%
On assessed value
Assessed land
$90,000
Assessed improvement
$442,000
Land market value
$128,571
Improvement market value
$631,429
Total market value
$760,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
3,916 SF
Lot
0.21 ac (9,000 SF)
Zoning code
N-2C
APN
140200 100.38-4-58
UPID
US63-3664738
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.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$700,000
RETAIL STORES
Est. value
$560,000
FINANCIAL BUILDING Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
531 Elmwood Ave LLC
Entity
Free & Clear · 4 yrs held
Mailing address
550 LATONA RD STE #501, ROCHESTER, NY 14626-2700
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2022
$925,000
531 Elmwood Ave LLC
Keybank National Association
Bargain And Sale Deed
—
Oct 28, 2019
—
City Of Buffalo
Director Of Erie County
Tax Deed
related
—
May 18, 2012
$509,000
Niagara Bk First
Hsbc Bk USA
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.
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