1219 Elmwood AveBuffalo, NY 14222

Property Details for 1219 Elmwood Ave

Year built

1960

Lot size

0.13 AC

Property size (Sq ft)

5,158 SF

Zone code

N-4-30

Property type

Office buildings

APN

140200 89.13-2-31

APU

1402008913231

Description

This exceptional 5,158 square foot mixed-use building, situated at 1219 Elmwood Avenue in Buffalo, NY, presents a unique investment opportunity. Originally constructed in 1940 with an addition in the 1970s, this two-story structure boasts a finished basement exceeding 3,400 square feet, totaling almost 5,200 square feet of usable space. Currently configured as a religious facility with offices, the property offers significant potential for adaptive reuse, including residential conversion (single-family or multi-family). Its prime location across from the Albright-Knox Art Gallery, Buffalo State University, and the Richardson Hotel ensures high visibility and accessibility. The building is in excellent condition, featuring a well-maintained roof and mechanical systems, including two boilers. Three bathrooms, one full, are conveniently located throughout. Designated on-street parking is available, adding to the property's appeal. The property sits on a 0.13-acre lot (APN: 140200-089-130-0002-031-000) and is fully sprinklered, enhancing safety and security. This is a rare opportunity to acquire a well-maintained building in a highly desirable location with significant upside potential. The asking price is $585,000.

• CAP approach

  CAP return

  Valuation

  6%

  $935,679

  6.5%

  $863,704

  7%

  $802,011

• Comparable approach

  Method

  Valuation

  Relative Method

  $493,467

  Geo Method

  $324,490

• Alternative Use

  Use

  Valuation

  Residential

  $1,070,993

  Hospitality

  $981,024

  Educational

  $816,200

  Medical

  $844,270

  Retail

  $1,269,644

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9306

Longitude

-78.8766

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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