Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    878 Main St Buffalo, NY 14202-1403

    • Office buildings
    • 5,010 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3643361
    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.

    Current Use by Public Records

    • ZeptoMetrix / Biotechnology Company

    Property Details for 878 Main St

    Year built
    1901
    Lot size
    0.14 lot acres
    Property size
    5,010 SF
    Zone code
    N-2C
    Property type
    Office buildings
    APN
    140200 100.78-5-13
    APU
    14020010078513

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $645,000
      Market price range: $343k - $855k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $580,000
      Current use
      RETAIL STORES
      $720,000
      Change: +24% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $650,000
      Change: +12% Conversion: Difficult
      RESTAURANT
      $620,000
      Change: +7% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $615,000
      Change: +6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $490,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.8708
    Latitude
    42.8978
    CBSA code
    15380
    CBSA name
    BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,203
    $93,800
    $330,200
    $424,000
    -
    $134,000
    $471,714
    $605,714

    Comparable in this City

    • Value Estimation
      $1,790,000
      17,352 SF

      229 Genesee St

      OFFICE BUILDING • 17,352 SF
      229 Genesee St, Buffalo, NY 14202-2604
      View Details
    • Value Estimation
      $4,025,000
      40,993 SF

      306 Delaware Ave

      OFFICE BUILDING • 40,993 SF
      306 Delaware Ave, Buffalo, NY 14202-1802
      View Details
    • Value Estimation
      $7,995,000
      95,660 SF

      160 Delaware Ave

      OFFICE BUILDING • 95,660 SF
      160 Delaware Ave, Buffalo, NY 14202-2404
      View Details
    • Value Estimation
      $2,470,000
      25,077 SF

      599 Delaware Ave

      OFFICE BUILDING • 25,077 SF
      599 Delaware Ave, Buffalo, NY 14202-1201
      View Details
    • Value Estimation by Request
      6,303 SF

      33 Franklin St

      OFFICE BUILDING • 6,303 SF
      33 Franklin St, Buffalo, NY 14202
      View Details
    • Value Estimation
      $600,000
      5,674 SF

      6 Pearl St

      OFFICE BUILDING • 5,674 SF
      6 Pearl St, Buffalo, NY 14202-1412
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,100 SF

      Renovated Office Building in Buffalo

      28,100 SF renovated office building in a growing Buffalo corridor.
      70 Niagara St, Buffalo, NY 14202
      View Details
    • $1,450,000
      6,111 SF

      Historic Victorian Office Building

      Three-story office building with parking in prime location.
      525 Delaware Ave, Buffalo, NY 14202
      View Details
    • $950,000
      6,104 SF

      Historic Buffalo Office Building

      Turn-key office building with redevelopment potential.
      491 Delaware Ave, Buffalo, NY 14202
      View Details
    • $895,000
      5,880 SF

      Versatile Downtown Buffalo Building

      Two-story building near downtown with retail and office potential.
      193 Delaware Ave, Buffalo, NY 14202
      View Details
    • $7,500,000
      162,133 SF

      Downtown Buffalo Landmark Office Building

      13-story office building in downtown Buffalo, completed in 1963.
      438 Main St, Buffalo, NY 14202
      View Details
    • Contact for pricing
      29,623 SF

      Architectural Masterpiece Conversion Opportunity

      Eleven-story building with conversion potential in Buffalo, NY.
      110 Pearl St, Buffalo, NY 14202
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      84,000 SF

      84,000 SF Professional Building

      Three-story building in walkable Williamsville with retail and office space.
      5500 Main St, Williamsville, NY 14202
      View Details
    • Contact for pricing
      5,868 SF

      Delaware Avenue Medical Office Space

      Medical office space near Allentown and Buffalo's medical campus.
      520 Delaware Ave, Buffalo, NY 14202
      View Details
    • Contact for pricing
      3,204 SF

      Downtown Buffalo Office Building

      71,200 SF office building with ample on-site parking.
      325 Delaware Ave, Buffalo, NY 14202
      View Details
    • $14 SF/Yr
      952 SF

      952 Sq. Ft. Office Space

      Second-floor office space in prime Buffalo location for rent.
      392-394 Franklin St, Buffalo, NY 14202
      View Details
    • Contact for pricing
      22,533 SF

      Delaware Avenue Office Space Available

      Up to 22,533 SF office space for rent.
      130-138 Delaware Ave, Buffalo, NY 14202
      View Details
    • $15 SF/Yr
      1,200 SF

      Elmwood Avenue Second Floor Office

      Second floor office space available in Elmwood Village.
      423-425 Elmwood Ave, Buffalo, NY 14202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    878 Main St
    Buffalo, NY 14202-1403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.