Buffalo, NY 14201,585 Niagara ST #1
Buffalo, NY 14201,585 Niagara ST #1
Buffalo, NY 14201,585 Niagara ST #1
Buffalo, NY 14201,585 Niagara ST #1
Buffalo, NY 14201,585 Niagara ST #1
Buffalo, NY 14201,585 Niagara ST #1
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$1,000,000

$1,100,000

9.1%
Est.Price: ?

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Est. payment /mo

9 Beds

14,119 SqFt


SOLD DATE : 02/16/2024

Key Details

Sold Price $1,000,000

Property Type Multi-Family

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 14,119 sqft

Price per Sqft $70

MLS Listing ID B1504660

Sold Date 02/16/24

Bedrooms 9

Construction Status Existing

HOA Y/N No

Year Built 1920

Annual Tax Amount $12,557

Lot Size 5,871 Sqft

Acres 0.1348

Lot Dimensions 44X132

Property Sub-Type Other

Property Description

Explore an investment opportunity in the heart of Buffalo's thriving West Side, where significant developments are fueling growth. Nestled on Niagara Street witness the 'Niagara Street Now' project, a monumental streetscape redesign by the City of Buffalo, setting the stage for the area's resurgence. Rich Products is at the helm of constructing a major film and TV studio complex (1.3 miles), promising to drive economic activity. D'Youville College (0.1 miles) from this site, has committed hundreds of millions for campus improvements, including a forthcoming $100M academic center. This property features an 8-unit mixed-use brick building (w/ 2 retail spaces) at the corner of Niagara/Jersey St, along with the adjacent 3-unit building at 181 Jersey St totaling 11 total rentable spaces. The property currently enjoys full occupancy, yielding an impressive ~$120k in top-line revenue and being marketed at a TRUE 6.37% cap rate.Rental rates for the 'tenanted' spaces are below market, offering room for favorable adjustments. Join the growth trajectory and capitalize on the promising market dynamics and position for attractive returns. Don't miss your chance to be part of Buffalo's future!

Location

State NY

County Erie

Area Buffalo City-140200

Direction Directly on Niagara St and Jersey

Rooms

Basement Full

Interior

Heating Gas, Baseboard, Forced Air

Flooring Hardwood, Varies, Vinyl

Fireplace No

Appliance Gas Water Heater

Exterior

Community Features Other, See Remarks

Utilities Available Sewer Connected, Water Connected

Roof Type Asphalt,Flat

Garage No

Building

Lot Description Near Public Transit

Story 2

Sewer Connected

Water Connected, Public

Level or Stories Two

Structure Type Brick

Construction Status Existing

Schools

School District Buffalo

Others

Senior Community No

Tax ID 140200-099-830-0006-031-000

Acceptable Financing Cash

Listing Terms Cash

Financing Conventional

Special Listing Condition Standard

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Listed by Keller Williams Realty WNY • 716-572-2848
Bought with Keller Williams Realty WNY
agent
Celeste Greiner

Broker Associate | License ID: 10301219405

+1(315) 430-0030 | celeste.ccgrealty@gmail.com

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