Property profile

556 Franklin St Buffalo, NY 14202

OFF-MARKET
Office buildings
Property ID
US63-6020946
7,012 SF 0.24 ac lot Built 1890
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional opportunity presents a rare chance to lease high-quality office space within a three-building complex ideally situated in Buffalo's vibrant Buffalo Niagara Medical Campus submarket. The property, located at 556 and 558 Franklin Street (corner of Franklin and North Streets), offers a total of 32,087 square feet of office space, with two suites currently available. One building features 5,000 square feet of historic charm, perfect for a variety of professional uses, while the other offers 7,214 square feet of modern, turnkey medical office space. Both buildings boast convenient on-site parking (46 spaces total) and are just two blocks from the medical campus, providing easy access for patients and staff. The property's Class B designation reflects its well-maintained condition and functional layout. The flexible space is divisible to a minimum of 5,000 square feet and offers a maximum contiguous space of 7,214 square feet, catering to various business needs. Its convenient location offers easy access to major roadways, including I-90 and the Kensington Expressway, and is also close to the amenities of Elmwood Village. This location is ideal for a range of businesses, including primary care physicians, specialists, law firms, accounting firms, and non-profit organizations. The property is comprised of three buildings, and there are no elevators on site. Inquire today to learn more about this outstanding opportunity.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1890
Total area 7,012 SF
Lot 0.24 ac (10,593 SF)
Zoning code N-2E
APN 140200 100.70-4-3
UPID US63-6020946

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Crisis Center Medical Clinic
  • Medical Clinic
  • Medical Clinic
  • Counselor Social Worker

Location

556 Franklin St Buffalo, NY 14202-1110
Buffalo metro Census 6801 BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$305k

Owner & transaction history

since 2019
4 recorded transactions
2019
$2.5M
2017
Price N/A
2012
$1.3M
1969
Price N/A

Zoning & alternative use

N-2E · Buffalo, NY
Zoning description

3.1.5 N-2E Mixed-Use Edge 3-7 3.1.6 N-2R Residential 3-8 3.1.7 N-3C Mixed-Use Center 3-9 3.1.8 N-3E Mixed-Use Edge 3-10 3.1.9 N-3R Residential 3-11 3.1.10 N-4-30 Single-Family 3-12 3.1.11 N-4-50 Single-Family 3-13 3.2 Bu…

General category MIXED_USE
Top alternative use upside
Retail stores $1.0M +23.8%
Neighborhood: shopping center $910,000 +11.9%
Restaurant $870,000 +6.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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