2815 Delaware AveKenmore, NY 14217

Property Details for 2815 Delaware Ave

Year built

1971

Lot size

0.28 AC

Property size (Sq ft)

5,000 SF

Zone code

04 - FARM

Property type

Investment properties

Property subtype

Retail residential properties

APN

146401 78.31-1-50

APU

1464017831150

Description

This stabilized, Class C retail property offers 5,000+ square feet of vacant space in a prime Kenmore, NY location. Situated on the corner of Delaware Avenue and Euclid Street, this property benefits from a traffic signal and high visibility, boasting an average daily traffic count exceeding 19,720 vehicles. The building, constructed in 1930, is a single-story structure on a 0.3-acre lot and is zoned for commercial use. Previously operating as a high-volume convenience store, the space includes a full kitchen equipped with hoods, fryers, and a stove, as well as a fully stocked deli area with reach-in beer coolers. The property's location offers easy access to major expressways (I-190 and I-290), and ample parking is available both in front of the plaza and in a village-owned lot accessible from Euclid Street and Warren Avenue. Other tenants in the plaza include a smoothie restaurant and a day spa. The asking price is $489,900, translating to $97.98 per square foot. This presents an excellent investment opportunity in a densely populated residential area. The property was 100% occupied as of October 20, 2022.

• CAP approach

  CAP return

  Valuation

  6%

  $1,124,699

  6.5%

  $1,038,183

  7%

  $964,027

• Comparable approach

  Method

  Valuation

  Relative Method

  $741,444

  Geo Method

  $487,552

• Alternative Use

  Use

  Valuation

  Residential

  $1,038,183

  Hospitality

  $950,970

  Educational

  $791,196

  Medical

  $818,407

  Retail

  $1,230,750

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.961

Longitude

-78.8695

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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