Property summary
Building 1 : (6) Existing Apartments - (2) rented month-to-month, and (4) are vacant. Requires renovation. Approx. 4,200 SF (1,400 SF per floor) Building 2 - Vacant/Fully Gutted. 8 potential apartments. Approx. 5,904 SF (Floor 1 & 2: Approx. 2200 SF each / Floor 3: Approx. 1600 SF) Vacant Lot at 543 Niagara St - Not part of listing. 28’ x 132’. Owned by related party and available for purchase. 539 Niagara Street is located in a rapidly appreciating corner of the City of Buffalo, and situated on a major urban corridor that has been the recipient of tremendous public and private investment in recent years. The property is 2 short blocks from D’Youville University - a thriving institution offering undergraduate, graduate, and professional degrees. Their ongoing growth and investments are a huge boon for the neighborhood and region, including the recently announced $154M medical school development. 2 blocks in the other direction lies the confluence of Lake Erie and the Niagara River, and two world-class waterfront parks to enjoy it from, including the Ralph Wilson Park that is currently in the midst of a $110M redevelopment. The property is a mile from downtown, and less than mile to the booming Buffalo Niagara Medical Campus - home to the University at Buffalo’s School of Medicine, and 3 major hospitals including the world-renowned Roswell Park Cancer Center. The property is within 1⁄2 mile of both the 1-90 interstate and the international Peace Bridge and Canadian border. It’s also situated on one of the most prominent transit corridors.
Property profile
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Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Property description
Physical attributes from public recordsZoning & alternative use
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