1202 Lovejoy StBuffalo, NY 14206

Property Details for 1202 Lovejoy St

Year built

1950

Lot size

0.10 AC

Property size (Sq ft)

4,032 SF

Zone code

N-3C

Property type

Investment properties

Property subtype

Retail residential properties

APN

140200 112.42-5-29

APU

14020011242529

Description

This exceptional mixed-use property, located at 1202 E Lovejoy Street in Buffalo, New York, presents a compelling investment opportunity. The building boasts a substantial 4,032 square feet of space, offering significant potential for a variety of commercial and residential uses. Situated on a 0.1-acre lot, the property includes a convenient garage, adding to its overall appeal and functionality. The strategic location within a residential neighborhood provides excellent access to a strong local customer base. This presents a unique chance to capitalize on the growing demand for mixed-use properties in this vibrant area of Buffalo. The asking price is $275,000, reflecting the property's significant value and potential for future growth. The property's size and features make it suitable for a range of business ventures, from retail spaces to professional offices, potentially combined with residential units. The inclusion of a garage adds further value, providing ample parking or storage space. This is an ideal opportunity for an investor seeking a strong return on investment in a thriving Buffalo neighborhood. The property's versatility and prime location make it a truly exceptional offering in the Buffalo real estate market. Serious inquiries are encouraged to explore the full potential of this remarkable mixed-use property. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $906,956

  6.5%

  $837,190

  7%

  $777,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $597,900

  Geo Method

  $393,162

• Alternative Use

  Use

  Valuation

  Residential

  $837,190

  Hospitality

  $766,861

  Educational

  $638,020

  Medical

  $659,962

  Retail

  $992,475

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.89

Longitude

-78.8039

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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