185 Grant StBuffalo, NY 14213

Property Details for 185 Grant St

Year built

1910

Lot size

0.70 AC

Property size (Sq ft)

28,560 SF

Zone code

N-2C

Property type

Investment properties

Property subtype

Live-work space

APN

140200 99.27-3-31.1

APU

14020099273311

Description

This exceptional five-story, 28,560 square foot building presents a unique redevelopment opportunity in Buffalo, NY's revitalized West Side. Located on Grant Street, this vacant storefront boasts a rich history as a former meat processing facility and grocery store. The property features 12-foot ceilings, a rear 8-foot grade-level door ideal for deliveries, and access from Auburn Avenue. Its prime location offers proximity to the New York State Thruway I-190, Downtown Buffalo, the Canadian border, Buffalo State University, and the Albright-Knox Art Gallery. The surrounding area is experiencing significant growth, with recent multi-family developments and a new film production facility nearby. This versatile space is perfect for conversion into condominium loft units, apartments, retail space, or a warehouse, offering significant potential for a variety of mixed-use developments. The first floor offers approximately 4,760 square feet of retail space, while the upper four floors provide ample storage space. The 0.44-acre lot and existing building structure provide a solid foundation for a lucrative investment. The building's permitted commercial zoning allows for diverse redevelopment options, catering to the area's growing demand for residential and commercial spaces. This landmark property offers an unparalleled chance to capitalize on Buffalo's thriving real estate market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,180,893

  6.5%

  $4,782,362

  7%

  $4,440,766

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,732,344

  Geo Method

  $2,576,546

• Alternative Use

  Use

  Valuation

  Residential

  $5,930,130

  Hospitality

  $5,431,967

  Educational

  $4,519,333

  Medical

  $4,674,760

  Retail

  $7,030,073

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9189

Longitude

-78.8898

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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