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Property profile & analytics
OFF-MARKET
Estimated value
$1,860,000
Medical Office Space
700 Ellicott St Buffalo, NY 14203-1102
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-3489890
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2004
Total area
75,255 SF
Lot
1.25 ac (54,450 SF)
Zoning code
D-M
APN
140200 111.23-2-30
UPID
US63-3489890
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
Current use
Occupant on record · Public records
-
Hauptman-Woodward Med Research Laboratory
-
OmniSeq Corporate Office
-
Efferent Labs Corporate Office
-
American Crystallographic Association Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.86M
Owner & transaction history
Fnub INC · 1 yrs held
Fnub INC
since 2025
1 recorded transaction
Zoning & alternative use
D-M · Buffalo, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
D-R, D-M, D-E, D-S, D-C, D-IL, D-IH, D-OS, D-OG, D-ON, C-R C-W-100 TABLE 5A: WATERFRONT YARDS DECEMBER 2016 CITY OF BUFFALO | CHAPTER 496, UNIFIED DEVELOPMENT ORDINANCE CORRIDOR ZONES | 5-9 where it finds that development in these areas will adversely affect the water quality of the water body. b. A shoreline buffer, consisting of undisturbed native or natur…
Zone name
Medical Campus District
General category
MIXED_USE
Zone area
233.68 ac
Top alternative use upside
Retail stores
$2.5M
+13.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,195,000
Current use
RETAIL STORES
$2,495,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$1.86M
Range $1.67M – $2.05M · ±10%
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
$25 / 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
$4,397
Tax year 2023
Assessed value
$7,614,000
Assessed 2023
Previous assessed
$7,614,000
+0.0% YoY
Effective rate
0.06%
On assessed value
Assessed land
$771,000
Assessed improvement
$6,843,000
Land market value
$1,101,429
Improvement market value
$9,775,714
Total market value
$10,877,143
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2004
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
75,255 SF
Lot
1.25 ac (54,450 SF)
Zoning code
D-M
APN
140200 111.23-2-30
UPID
US63-3489890
Jurisdiction
ERIE
Zoning & alternative use
D-M · Buffalo, NYZoning D-M · permitted uses
D-M · Buffalo, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
D-R, D-M, D-E, D-S, D-C, D-IL, D-IH, D-OS, D-OG, D-ON, C-R C-W-100 TABLE 5A: WATERFRONT YARDS DECEMBER 2016 CITY OF BUFFALO | CHAPTER 496, UNIFIED DEVELOPMENT ORDINANCE CORRIDOR ZONES | 5-9 where it finds that development in these areas will adversely affect the water quality of the water body. b. A shoreline buffer, consisting of undisturbed native or naturalized vegetation, must be provided for a minimum depth of 50 feet from the mean high water line. Grading, filling, excavation, clear cutting, and removal of vegetative cover are prohibited within this shoreline buffer, except in the following instances: i. To implement erosion and flood control measures. ii. To facilitate a water-dependent use. iii. To control noxious or invasive vegetation. iv. To implement green infrastructure
Zone name
Medical Campus District
General category
MIXED_USE
Zone area
233.68 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
RETAIL STORES
Est. value
$2.5M
MEDICAL 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
2004
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Fnub INC
Entity
Free & Clear · 1 yrs held
Mailing address
700 ELLICOTT ST, BUFFALO, NY 14203-1102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2025
—
Fnub INC
Hauptman Woodward Medical Resarch I
Warranty 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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