498 Northland AveBuffalo, NY 14211

Property Details for 498 Northland Ave

Year built

1920

Lot size

0.45 AC

Property size (Sq ft)

30,517 SF

Zone code

D-C

Property type

Investment properties

Property subtype

Retail residential properties

APN

140200 100.28-1-16

APU

14020010028116

Description

This exceptional 30,517 square foot warehouse, located at 498 Northland Ave in Buffalo, NY, presents a unique investment opportunity. Built in 1920, the property sits on a sizable lot ranging from 3 to 4 acres, offering significant potential for redevelopment or renovation. The existing masonry brick building features a partial basement, providing ample storage and versatile space. The property boasts 132 feet of road frontage, along with both surfaced and interior parking areas, ensuring convenient access and ample parking for tenants or employees. The asking price is $275,000, and the sale is strictly cash only, with the property sold "as is." This prime location in Erie County, zip code 14211, offers easy access to major transportation routes and is situated within a thriving industrial area of Buffalo. The substantial lot size and existing building structure provide a blank canvas for a variety of commercial uses, making this an attractive proposition for developers and investors seeking a high-return opportunity in a desirable location. The property's size and features make it suitable for a wide range of industrial or commercial applications. This is a rare opportunity to acquire a significant piece of Buffalo real estate with considerable upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $6,864,486

  6.5%

  $6,336,448

  7%

  $5,883,845

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,525,326

  Geo Method

  $2,975,728

• Alternative Use

  Use

  Valuation

  Residential

  $6,336,448

  Hospitality

  $5,804,153

  Educational

  $4,828,987

  Medical

  $4,995,064

  Retail

  $7,511,758

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.9195

Longitude

-78.8408

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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