401 Amherst StBuffalo, NY 14215

Property Details for 401 Amherst St

Year built

1996

Lot size

3.63 AC

Property size (Sq ft)

15,726 SF

Zone code

D-IL

Property type

Distribution properties

APN

140200 90.23-6-1.112

APU

140200902361112

Description

This exceptional investment opportunity presents a 16,821-square-foot, Class A industrial property located at 401 E. Amherst Street in Buffalo, New York. The single-story building, constructed in 1996 with renovations in 2020, sits on a 3.56-acre lot and boasts 185 parking spaces. The property features a mix of office and industrial space, including approximately 13,100 square feet of finished office space and 3,700 square feet of industrial space, plus a separate 1,100-square-foot building. A key feature is an on-site compressed natural gas (CNG) station, installed in 2015, with an annual capacity of 2 million gallons. The property is currently 100% occupied by two tenants under a triple-net (NNN) lease with a remaining term of 8.1 years, expiring December 31, 2032, and featuring 2% annual rent bumps. The lease commenced January 1, 2023, and the asking price is $5,260,800, representing a 7.5% cap rate and a price per square foot of $312.75. Recent improvements include a new roof, HVAC system, parking lot, paint, flooring, bathrooms, and kitchen (2020), and new lighting (2019). The property is zoned D-IL Light Industrial and enjoys a convenient location, one mile from Route 33/Kensington Expressway and Erie County Medical Center, midway between downtown Buffalo and Buffalo Niagara International Airport. The property offers a strong, stable income stream with significant upside potential. The building features a 25-foot ceiling height.

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9389

Longitude

-78.8231

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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