437 Ellicott StBuffalo, NY 14203

Property Details for 437 Ellicott St

Year built

1930

Lot size

0.07 AC

Property size (Sq ft)

5,771 SF

Zone code

N-1C

Property type

Turn key restaurants

APN

140200 111.39-1-27

APU

14020011139127

Description

This exceptional turnkey restaurant opportunity in the heart of Buffalo presents a rare chance to acquire a thriving, established business. Located at 437 Ellicott Street, this 4,988 square foot, three-story building boasts a rich history, dating back to the 1930s. The property features stunning architectural details, including exposed brick, classic segmental arches, and beautiful wood floors, creating a unique and inviting atmosphere. The current configuration includes two sunny dining rooms, each complemented by custom-built bars, providing ample seating for 110 guests. The fully licensed establishment also includes a comprehensive catering operation. The fully equipped kitchen is a chef's dream, featuring top-of-the-line equipment such as pressure fryers, a grill, and a smoker, along with two full kitchens, three hoods, two walk-in refrigerators, and one walk-in freezer. The current gross rent is exceptionally low at $4,495. This is a truly remarkable opportunity for an experienced restaurateur to step into a ready-made success or for a new concept to establish itself in a prime location. The owner will provide full support and a comprehensive handover to ensure a smooth transition. The property is offered at $399,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,538,916

  6.5%

  $1,420,538

  7%

  $1,319,071

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,391,326

  Geo Method

  $1,311,908

• Alternative Use

  Use

  Valuation

  Residential

  $1,198,277

  Hospitality

  $1,097,615

  Educational

  $913,203

  Medical

  $944,609

  Retail

  $1,420,538

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.8903

Longitude

-78.8702

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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