3167 Park AveBuffalo, NY 14218

Property Details for 3167 Park Ave

Year built

1900

Lot size

0.12 AC

Property size (Sq ft)

4,834 SF

Zone code

NC

Property type

Investment properties

Property subtype

Live-work space

APN

140900 142.70-4-27.1

APU

140900142704271

Description

This exceptional turnkey opportunity presents a fully operational and recently remodeled bar and restaurant located at 3167 South Park Ave, Lackawanna, NY 14218. The 5,914 square foot, two-story building boasts a stylish and modern interior, featuring a spacious dining area with ample seating, a large and inviting bar perfect for socializing, and a fully equipped, modern kitchen. Additional amenities include a newly remodeled international coffee bar and restrooms. The property also includes a large, functional kitchen with updated appliances, substantial cooler and freezer space, and ample storage for dry goods. A significant advantage is the large paved parking lot, complemented by an adjacent overflow parking area, ensuring convenient customer and employee parking. Further enhancing the investment potential is a second-floor apartment, offering an additional revenue stream. The property is zoned as a Neighborhood Tavern and is currently operating at 100% occupancy. This well-maintained Class B retail property is priced at $499,000 ($84.38/sq ft) and represents a strong investment opportunity in a prime Lackawanna location. The owner's retirement sale makes this a truly unique opportunity that is priced to sell quickly. Don't miss out on this exceptional chance to acquire a thriving business in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $876,907

  6.5%

  $809,453

  7%

  $751,635

• Comparable approach

  Method

  Valuation

  Relative Method

  $462,470

  Geo Method

  $304,107

• Alternative Use

  Use

  Valuation

  Residential

  $1,003,722

  Hospitality

  $919,404

  Educational

  $764,933

  Medical

  $791,240

  Retail

  $1,189,896

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.8137

Longitude

-78.8245

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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