4233 Lake AveBuffalo, NY 14219

Property Details for 4233 Lake Ave

Year built

1959

Lot size

2.80 AC

Property size (Sq ft)

35,366 SF

Zone code

C2

Property type

Office buildings

APN

144889 151.55-7-13.1

APU

144889151557131

Description

This exceptional Class A medical office building, located at 4233 Lake Avenue in the desirable Blasdell submarket of Erie County, offers two remaining suites for lease. The single-story, 35,366 square foot building underwent a complete renovation in 2018 and sits on a spacious 2.8-acre lot. The property is zoned for Office, Retail, and Commercial use, providing flexibility for a variety of medical or professional tenants. Ample parking is available with 50 spaces. Two suites are currently available, offering a range of sizes to accommodate different needs. Suite #3 offers approximately 1,500 square feet, while Suite #4 provides approximately 3,700 square feet and is divisible. These suites can also be combined to create a larger space totaling 5,200 square feet. The minimum leasable space is 1,000 square feet. The building features a common corridor connecting existing tenants, allowing for convenient interior access. The Lake Avenue suite offers the unique possibility of a retail entrance design. This prime location in the Lake and South Park submarket cluster presents a fantastic opportunity for medical professionals seeking a modern, well-maintained space with excellent visibility and ample parking. The APN is 144889-151-550-0007-013-100. Currently, 6,200 square feet of space is vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $6,415,542

  6.5%

  $5,922,039

  7%

  $5,499,036

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,383,479

  Geo Method

  $3,190,133

• Alternative Use

  Use

  Valuation

  Residential

  $7,343,328

  Hospitality

  $6,726,450

  Educational

  $5,596,327

  Medical

  $5,788,794

  Retail

  $8,705,398

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.7966

Longitude

-78.8217

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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