1094 Lovejoy StBuffalo, NY 14206

Property Details for 1094 Lovejoy St

Year built

1920

Lot size

0.09 AC

Property size (Sq ft)

2,398 SF

Zone code

N-3E

Property type

Investment properties

Property subtype

Live-work space

APN

140200 112.42-2-28

APU

14020011242228

Description

This exceptional investment opportunity presents a two-building, 2,860 square foot office property situated in Buffalo, NY's vibrant Lovejoy neighborhood, at 1094 E Lovejoy St, zip code 14206. The property, built in 1910, is zoned E-04 and features two stories, offering a turnkey medical office space with a spacious waiting room, reception area, three medical offices, a kitchenette, a private office, an administrative office area, and an updated ADA-compliant bathroom. A convenient back entrance leads to a private parking lot with a full handicap ramp, accommodating up to six vehicles. The property includes a boiler (installed 2022) and circuit breakers. Exterior features include vinyl siding, glass block windows, and a partial basement with a sump pump. While the roof's age is not specified, the upstairs apartment, requiring full renovation, presents significant potential for rental income generation due to its layout. The property's location along a busy retail corridor ensures high visibility and accessibility. This Class C property is priced at $179,900, or $62.90 per square foot. The property is comprised of two buildings.

• CAP approach

  CAP return

  Valuation

  6%

  $435,004

  6.5%

  $401,542

  7%

  $372,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $229,417

  Geo Method

  $150,858

• Alternative Use

  Use

  Valuation

  Residential

  $497,912

  Hospitality

  $456,085

  Educational

  $379,457

  Medical

  $392,507

  Retail

  $590,267

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.89

Longitude

-78.8079

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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