Technical
Financial
Distress signals
Property profile

601 Main St Buffalo, NY 14203

FOR LEASE
Hotels
Property ID
US63-1570903
119,553 SF 0.71 ac lot Built 1990
Individually Owned 21-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 9,648-square-foot restaurant space, formerly a TGI Fridays, presents a unique opportunity in the heart of downtown Buffalo, NY. Located at 601 Main Street, this second-generation restaurant boasts a street-level entrance and convenient connectivity to a 146-room Holiday Inn Express & Suites. The expansive layout includes multiple indoor seating areas, accommodating 156 guests, along with an inviting outdoor patio and a large U-shaped bar. This corner location benefits from high visibility and foot traffic within a vibrant and active area, attracting young professionals and recent college graduates. The surrounding area is bustling with activity, day and night. Nearby hotels include the Embassy Suites, Hampton Inn & Suites, Curtiss Hotel, and Hyatt Regency, complemented by a diverse selection of local bars, restaurants, and nightclubs. The daytime activity is equally impressive, with proximity to New Era's flagship store, Fountain Plaza, the Convention Center, and numerous local, state, and federal office buildings. These include City Hall, the Western NY District Federal Court, FBI, IRS, and VA offices, as well as Buffalo Police Headquarters and Erie County Court. This property offers significant potential for a variety of restaurant or retail concepts, capitalizing on its prime location and established infrastructure within a thriving downtown environment. The property is situated in Erie County, New York, with a zip code of 14203.

Property profile

Verified
Property type Hotels
Use group HOTEL
Year built 1990
Total area 119,553 SF
Lot 0.71 ac (30,800 SF)
Zoning code N-1C
APN 140200 111.38-4-6.112
UPID US63-1570903

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
  • Hotel & Motel
  • Hotel & Motel
  • Restaurant

Location

601 Main St Buffalo, NY 14203
Buffalo metro Census 16500 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
$7.78M

Owner & transaction history

since 2004
3 recorded transactions
2004
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

N-1C · Buffalo, NY
Zoning description

3.1.2 N-1C Mixed-Use Cor e 3-4 3.1.3 N-1S Secondar y Employment Center 3-5 3.1.4 N-2C Mixed-Use Center 3-6 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 Edg…

General category MIXED_USE
Top alternative use upside
Auto repair, garage $11.6M +31.4%
Commercial (general) $11.4M +28.4%

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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