229 Allen St
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229 Allen St
11,340 SF 100% Leased Retail Building Buffalo, NY 14201 $1,400,000 ($123/SF)
Executive Summary
This architecturally significant 3-story brick building in the heart of Allentown has been the home of the iconic Mulligan's Brick Bar since 1934. The building is 11,340 square feet with approximately 4,000 square feet on the 1st floor, 4,000 square feet on the 2nd, and 3,340 square feet on the 3rd floor. The property and the business are being sold together along with a permanent lease on the adjacent parking lot (225 Allen). The 2nd and 3rd floors are mostly gutted/open spaces in need of rehabilitation however, prior to the liquor license being established in 1934 (post-prohibition) the 2nd floor consisted of 2 apartments and a separate speakeasy/Ballroom. The 1st-floor bar room is loaded with character and charm quintessential to its identity as well as the neighborhoods. The 1st floor has a long front bar with a brick base as well as a back bar. There are 2 updated bathrooms for patrons, 1 for employees, a 1st-floor walk-in cooler, DJ booth, and front deck for patrons. The back bar includes a small type 2 hood and was formerly a kitchen. The facade features some of the most ornate and intricate brick patterns in Allentown, the type usually seen on churches. The building is a contributing structure to the nationally recognized Allentown Historic Preservation District meaning that both the business and building are eligible for the full 40% in Historical Tax Credits. The business will continue to operate throughout the sale process. Great location, turnkey business, primed for development. Sellers would consider holding a mortgage with 50% down.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bar
Building Size
11,340 SF
Building Class
C
Year Built
1890
Price
$1,400,000
Price Per SF
$123
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.09 AC
Zoning
N-2C - Mixed-Use Center
Parking
10 Spaces (0.88 Spaces per 1,000 SF Leased)
Frontage
35 FT on Allen St
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Mulligan's Brick Bar
- -
- 3,701 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Mulligan's Brick Bar | - | 3,701 SF | - | - |
Walk Score ®
Walker's Paradise (95)
Bike Score ®
Biker's Paradise (93)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 140200-100-770-0004-003-000 | Improvements Assessment | $187,500 |
| Land Assessment | $37,500 | Total Assessment | $225,000 |
PROPERTY TAXES
Parcel Number
140200-100-770-0004-003-000
Land Assessment
$37,500
Improvements Assessment
$187,500
Total Assessment
$225,000
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229 Allen St
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