703 Washington StBuffalo, NY 14203

Property Details for 703 Washington St

Year built

1980

Lot size

0.09 AC

Property size (Sq ft)

11,289 SF

Zone code

N-1C

Property type

Office buildings

APN

140200 111.31-13-3

APU

14020011131133

Description

This exceptional three-story, 11,289 square foot commercial building is ideally situated in downtown Buffalo at the corner of Washington and Tupper Streets, offering unparalleled visibility. Built in 1980 and extensively renovated in 2020, this Class B property boasts a 100% occupancy rate with a single tenant. The building features convenient on-site parking for 10 vehicles, a significant advantage in a bustling urban environment. Each floor is thoughtfully designed with its own kitchen and bathrooms, enhancing functionality and convenience for occupants. The flexible space, suitable for executive offices or other uses, provides ample room for a variety of business needs. Its prime location provides easy access to the 33 Expressway and the New York State Thruway, ensuring seamless connectivity throughout the region. The asking price for this turnkey investment opportunity is $1,100,000. This property represents a rare opportunity to acquire a well-maintained, high-visibility commercial building in a thriving downtown location. The building's modern amenities, combined with its strategic location and convenient access to major transportation arteries, make it an attractive investment for discerning buyers. The 100% occupancy rate ensures immediate cash flow, making this a compelling proposition for investors seeking a stable and profitable asset.

• CAP approach

  CAP return

  Valuation

  6%

  $2,047,868

  6.5%

  $1,890,340

  7%

  $1,755,315

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,080,022

  Geo Method

  $1,018,366

• Alternative Use

  Use

  Valuation

  Residential

  $2,344,021

  Hospitality

  $2,147,110

  Educational

  $1,786,371

  Medical

  $1,847,807

  Retail

  $2,778,799

Location Insight

City

Buffalo

County

Erie

State

New York

Latitude

42.893

Longitude

-78.8705

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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