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    Property profile & analytics

    897 Delaware Ave Buffalo, NY 14209

    • Office buildings
    • 11,787 SF
    • 0.33 lot acres
    For Lease
    View listing
    Last Sale
    Apr 18, 2023
    $1,350,000
    Value Estimations
    $1,365,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6034427
    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

    • Rex Reiko / Dentist
    • Elspeth Call Lukasik / Obstetrician-Gynecologist / Medical School
    • Brightway Insurance, The Rivas Family Agency / Home Insurance Agency / Auto Insurance Agency
    • Pielaszkiewicz Lisa / Dentist
    • Walker Annemarie / Dentist

    Property Details for 897 Delaware Ave

    Year built
    1970
    Lot size
    0.33 lot acres
    Property size
    11,787 SF
    Zone code
    N-2R
    Property type
    Office buildings
    APN
    140200 100.54-3-3
    APU
    1402001005433

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,360,000
      ML approach
      $1,395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,683,000
      Market price range: $807k - $2.01M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,365,000
      Current use
      RETAIL STORES
      $1,695,000
      Change: +24% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,530,000
      Change: +12% Conversion: Difficult
      RESTAURANT
      $1,460,000
      Change: +7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,145,000
      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
    -78.8703
    Latitude
    42.9085
    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
    $7,276
    $225,400
    $1,174,600
    $1,400,000
    -
    $322,000
    $1,678,000
    $2,000,000

    Comparable in this City

    • Value Estimation
      $1,665,000
      44,402 SF

      33 Dodge St

      OFFICE BUILDING • 44,402 SF
      33 Dodge St, Buffalo, NY 14209
      View Details
    • Value Estimation by Request
      5,780 SF

      999 Delaware Ave

      OFFICE BUILDING • 5,780 SF
      999 Delaware Ave, Buffalo, NY 14209-1805
      View Details
    • Value Estimation
      $2,435,000
      29,824 SF

      800 Delaware Ave

      OFFICE BUILDING • 29,824 SF
      800 Delaware Ave, Buffalo, NY 14209-2006
      View Details
    • Value Estimation by Request
      3,492 SF

      1237 Delaware Ave

      PROFESSIONAL BUILDING • 3,492 SF
      1237 Delaware Ave, Buffalo, NY 14209-1435
      View Details
    • Value Estimation by Request
      12,636 SF

      1437 Main St

      OFFICE BUILDING • 12,636 SF
      1437 Main St, Buffalo, NY 14209-1732
      View Details
    • Value Estimation
      $940,000
      24,782 SF

      1236 Main St

      OFFICE BUILDING • 24,782 SF
      1236 Main St, Buffalo, NY 14209-2112
      View Details

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      Historic Williams Butler Mansion ForSale

      Historic 28,000 SF Williams Butler Mansion in park-like setting.
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    • $1,250,000
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      Stone Multi-Family Property Near Delaware

      Two-building multi-family property with renovation potential near Delaware Avenue.
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      Mixed-use property with restaurant, office space, and development potential.
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    Similar Nearby for Lease

    • $30 SF/Yr
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      Historic Office Space in Buffalo

      Historic office space for lease in the Williams Butler Mansion.
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    • $30 SF/Yr
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      Historic Office Space in Buffalo

      Historic office space for lease in the Delaware Preservation District.
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    • $699,999

      Downtown Buffalo Office/Retail Building

      8700 SF office/retail building in downtown Buffalo for lease.
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    • Contact for pricing
      11,787 SF

      Updated Medical/Business Office Space

      Updated medical/business office space available for rent.
      897 Delaware Ave, Buffalo, NY 14209
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    • $21 SF/Yr
      32,211 SF

      1115 Main St Office Space

      Prime Buffalo Medical Campus Office
      1115 Main Rd, Buffalo, NY 14209
      View Details
    • $15 SF/Yr
      1,700 SF

      Prime Office Space Available

      Office space for rent with central location and amenities.
      1275 Delaware Ave, Buffalo, NY 14209
      View Details
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    897 Delaware Ave
    Buffalo, NY 14209
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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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