758 Elmwood AveBuffalo, NY 14222

Property Details for 758 Elmwood Ave

Year built

1980

Lot size

0.20 AC

Property size (Sq ft)

9,322 SF

Zone code

N-2C

Property type

Investment properties

Property subtype

Live-work space

APN

140200 100.21-4-8.21

APU

140200100214821

Description

This exceptional mixed-use property, located at 758 Elmwood Avenue in Buffalo, New York's desirable Elmwood Village, presents a rare investment opportunity. The 11,437 square foot building boasts a Class A designation and comprises two buildings with three stories, encompassing five units. The property features three attractive retail spaces arranged around a charming courtyard, complemented by two updated residential units overlooking Elmwood Avenue. Each residential unit is equipped with modern conveniences including in-unit washer/dryers, dishwashers, and air conditioning. Six dedicated parking spaces cater to both residential and retail tenants, adding significant value. The property sits on a 15,246 square foot lot, zoned N-2C, and currently enjoys an 80% occupancy rate, generating a pro-forma NOI of $127,747 and a 7.47% pro-forma cap rate. The asking price is $1,710,000, translating to $149.51 per square foot. This unique blend of commercial and residential spaces makes it ideal for owner-users or investors seeking a high-performing asset in a thriving neighborhood. The property's prime location within a densely populated retail corridor ensures strong tenant demand and long-term growth potential.

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9178

Longitude

-78.8775

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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