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    623 Best St Buffalo, NY 14211
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    Property profile & analytics

    623 Best St Buffalo, NY 14211

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    • Churches & religious facilities
    • 9,660 SF
    Off-Market
    Property ID
    US63-2428245
    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

    • Young Tabernacle Holiness Church Assembly / Church

    Property Details for 623 Best St

    Year built
    1915
    Property size
    9,660 SF
    Property type
    Churches & religious facilities

    Description

    This exceptional offering presents a unique opportunity to acquire a historic church property in Buffalo, NY. The property encompasses 1.1446 acres and includes seven total parcels, featuring a substantial 9,660 square foot, two-story church building constructed in 1915, capable of seating up to 300 people. Also included is a separate, approximately 1,700 square foot single-family home. Three of the seven parcels are vacant lots, offering significant development potential, while two additional lots currently serve as a large parking area. This prime location is conveniently situated near MLK Park, the Buffalo Science Museum, and Route 33, providing excellent visibility and accessibility. The asking price for this remarkable property is $425,000. Detailed lot information and additional property specifics are available upon request. This is an ideal investment for developers, religious organizations, or those seeking a unique historical property with substantial expansion possibilities. The property's size and location make it a truly exceptional opportunity in the vibrant Buffalo market.

    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
    -78.8451621
    Latitude
    42.9034238

    Comparable in this City

    • $300,000

      Mixed-Use Complex on .97 Acres

      Six contiguous parcels with church, office, and community center.
      3 Rustic Pl, Buffalo, NY 14211
      View Details
    • $65,000
      0.10 Acres

      Land For Sale, Buffalo, NY

      Vacant land available in Buffalo, New York.
      62 Pershing Ave, Buffalo, NY 14211
      View Details
    • $65,000
      0.06 Acres

      Land For Sale, Buffalo, NY

      Land available for sale in Buffalo, New York.
      23 Earl Pl, Buffalo, NY 14211
      View Details
    • $65,000
      0.06 Acres

      Land For Sale, Buffalo, NY

      Land available for purchase in Buffalo, New York.
      17 Earl Pl, Buffalo, NY 14211
      View Details

    Similar Nearby for Sale

    • $300,000

      Mixed-Use Complex on .97 Acres

      Six contiguous parcels with church, office, and community center.
      3 Rustic Pl, Buffalo, NY 14211
      View Details
    • $65,000
      0.10 Acres

      Land For Sale, Buffalo, NY

      Vacant land available in Buffalo, New York.
      62 Pershing Ave, Buffalo, NY 14211
      View Details
    • $65,000
      0.06 Acres

      Land For Sale, Buffalo, NY

      Land available for sale in Buffalo, New York.
      23 Earl Pl, Buffalo, NY 14211
      View Details
    • $65,000
      0.06 Acres

      Land For Sale, Buffalo, NY

      Land available for purchase in Buffalo, New York.
      17 Earl Pl, Buffalo, NY 14211
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      4,500 SF

      Flex Space Available For Rent

      Flex space available for rent in Buffalo, NY.
      812 E Ferry St, Buffalo, NY 14211
      View Details
    • $3,500 /Mo

      Former Banquet Hall For Lease

      Former banquet hall available for lease with parking lot.
      279 Guilford St, Buffalo, NY 14211
      View Details
    • Contact for pricing
      41,400 SF

      Industrial Building Near Training Center

      Renovated industrial space near Northland Workforce Training Center.
      541 East Delavan Ave, Buffalo, NY 14211
      View Details
    • $8 SF/Yr
      4,860 SF

      Retail Space on Genesee Street

      Retail space available for lease in Buffalo, New York.
      1917 Genesee St, Buffalo, NY 14211
      View Details
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    623 Best St
    Buffalo, NY 14211
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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.

    More about this property
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