524 Hinman AveBuffalo, NY 14216

Property Details for 524 Hinman Ave

Year built

1920

Lot size

0.36 AC

Property size (Sq ft)

1,622 SF

Zone code

D-S

Property type

Gas stations

APN

140200 77.43-5-9.1

APU

1402007743591

Description

This 1,644+/- square foot vacant gas station and former autobody shop presents a compelling investment opportunity in Buffalo, NY. Located on a high-traffic intersection at Hinman Ave and Military Rd, the property boasts excellent visibility across from established businesses like Froth Brewing and Wingnutz. The 0.36-acre lot (160' x 98') includes a 12,000-gallon double-walled steel fuel tank with double-walled piping, two newer dispensers with four fueling stations under one canopy, and a street-facing pole sign. Three above-ground tanks store used oil. A point-of-sale system and security system are already in place. The existing building offers ample space for conversion into a convenience store, with the potential to leverage the existing infrastructure. All equipment is available for an additional price. The seller is open to financing options with a substantial down payment, and a favorable 10-year product supply agreement is in place. The property is sold as-is. This location benefits from strong residential development and high daytime/nighttime activity, with proximity to major roadways (I-90 and Route 33) and numerous retail establishments including Tops, Aldi, Home Depot, and more. The property is zoned commercial.

• CAP approach

  CAP return

  Valuation

  6%

  $432,527

  6.5%

  $399,256

  7%

  $370,738

• Comparable approach

  Method

  Valuation

  Relative Method

  $391,046

  Geo Method

  $257,141

• Alternative Use

  Use

  Valuation

  Residential

  $336,787

  Hospitality

  $308,495

  Educational

  $256,665

  Medical

  $265,492

  Retail

  $399,256

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9563

Longitude

-78.8892

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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