87 Cleveland DrBuffalo, NY 14223

Property Details for 87 Cleveland Dr

Year built

1960

Lot size

0.62 AC

Property size (Sq ft)

9,074 SF

Zone code

05C

Property type

Investment properties

Property subtype

Retail residential properties

APN

143089 79.20-10-14

APU

14308979201014

Description

This exceptional 9,000 square foot shopping center, located at 87 Cleveland Drive in Buffalo, New York, presents a compelling investment opportunity. Priced at $1,500,000 ($166.67 per square foot), this multi-tenant property boasts a convenient location in Erie County, zip code 14223 (42.9881433, -78.8669493). The property features a newly paved parking lot, enhancing customer accessibility and convenience. Currently, the center houses a convenience store and a laundromat, both of which may be available for sale separately, presenting potential for immediate income generation and further development. The existing businesses provide a strong foundation for future growth and diversification of tenants. This well-maintained shopping center is ideally situated to capitalize on the thriving retail landscape of Buffalo, offering a solid return on investment for a discerning buyer. The property's size and existing tenancy make it an attractive proposition for both seasoned investors and those seeking to enter the commercial real estate market. The strong tenant mix and recent improvements to the parking lot further enhance the property's appeal. This is a rare opportunity to acquire a well-positioned, income-producing retail property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,041,092

  6.5%

  $1,884,085

  7%

  $1,749,507

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,345,569

  Geo Method

  $884,810

• Alternative Use

  Use

  Valuation

  Residential

  $1,884,085

  Hospitality

  $1,725,811

  Educational

  $1,435,855

  Medical

  $1,485,236

  Retail

  $2,233,552

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9438

Longitude

-78.7959

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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