471 Elmwood AveBuffalo, NY 14222

Property Details for 471 Elmwood Ave

Year built

1920

Lot size

0.13 AC

Property size (Sq ft)

11,440 SF

Zone code

N-2C

Property type

Turn key restaurants

APN

140200 100.46-1-57

APU

14020010046157

Description

This exceptional retail property at 471 Elmwood Avenue in Buffalo, NY, offers 16,560 square feet of space across three suites in a two-story building. Originally constructed in 1910 and renovated in 1980, this building boasts a desirable street-level retail presence in the vibrant Elmwood Village neighborhood. The property features convenient off-street parking in the rear, supplementing readily available on-street parking and nearby garage options at 489 Elmwood. A basement provides valuable storage space for tenants. The building's corner location offers excellent visibility and accessibility within a thriving commercial district. Elmwood Village is known for its mix of local businesses and national retailers, including Starbucks, Bank of America, M&T Bank, and Panera Bread. Its proximity to Buffalo State College and Delaware Park, a renowned Olmsted-designed park, contributes to a high concentration of young, educated professionals. This makes 471 Elmwood Avenue an ideal location for businesses seeking a strong presence in one of Upstate New York's most sought-after neighborhoods. The zip code is 14222.

• CAP approach

  CAP return

  Valuation

  6%

  $3,050,630

  6.5%

  $2,815,966

  7%

  $2,614,826

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,758,060

  Geo Method

  $2,600,576

• Alternative Use

  Use

  Valuation

  Residential

  $2,375,373

  Hospitality

  $2,175,829

  Educational

  $1,810,264

  Medical

  $1,872,522

  Retail

  $2,815,966

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9101

Longitude

-78.8768

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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