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3612 Seneca St

3,802 SF Office Building Buffalo, NY 14224 $549,000 ($144/SF)

Investment Highlights

  • ADA Accessible
  • Lot location, frontage and developability
  • Updated electric, HVAC, generator

Executive Summary

3612 Seneca St presents an attractive opportunity for various professional uses due to its recent renovations and strategic layout. Here’s a summary of its key features:
Size and Layout: The property spans over 3800 square feet, offering ample space for offices and amenities. It includes 1 full bathroom and 3 half bathrooms, catering well to medical or professional office needs.
Renovations and Updates: Fully renovated in 2020, the building is ADA accessible and features new windows, doors, lighting, and finishes throughout. This ensures modern comfort and compliance with accessibility standards.
Utility Features: Equipped with a 200 amp electric service and a backup generator, the property prioritizes operational reliability, crucial for continuous business operations.
Interior Design: The interior is designed to be functional and inviting, with a large waiting area featuring a fireplace and a glass partitioned wall separating it from the administrative office. There are 9 offices with windows, providing natural light and a conducive working environment.
Additional Facilities: Includes a secure room suitable for confidential documents or equipment, enhancing security and privacy within the premises. The lower level features a break room and a spacious file storage area, optimizing organizational efficiency.
Exterior and Lot: Situated on a large lot with prominent frontage on Seneca Street, the property offers parking for over 25 vehicles. There is potential to expand the building or construct additional structures such as a storage building, providing flexibility for future growth or customization.
Immediate Availability: Recent lease was $9500 (NNN) per month. Currently vacant and ready for immediate occupancy, making it an ideal choice for owner-occupiers or investors looking to lease out the space. Owner may consider a lease.
Investment Potential: Can be purchased individually for owner-occupation or as part of an investment strategy when combined with 1120 Youngs Rd, offering potential for portfolio expansion.
Overall, this property stands out due to its recent updates, versatile layout, strategic location, and potential for various professional uses. It presents a compelling opportunity in the commercial real estate market, suitable for a range of businesses seeking a well-maintained and adaptable space.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $114,000 $29.98
Other Income - -
Vacancy Loss $114,000 $29.98
Effective Gross Income - -
Taxes $11,745 $3.09
Operating Expenses $12,000 $3.16
Total Expenses $23,745 $6.25
Net Operating Income - -

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $114,000
Annual Per SF $29.98
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $114,000
Annual Per SF $29.98
Effective Gross Income
Annual -
Annual Per SF -
Taxes
Annual $11,745
Annual Per SF $3.09
Operating Expenses
Annual $12,000
Annual Per SF $3.16
Total Expenses
Annual $23,745
Annual Per SF $6.25
Net Operating Income
Annual -
Annual Per SF -

Property Facts Under Contract

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
3,802 SF
Building Class
B
Year Built/Renovated
1961/1999
Price
$549,000
Price Per SF
$144
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,802 SF
Building FAR
0.13
Land Acres
0.68 AC
Zoning
C-1 - C1 Commercial
Parking
27 Spaces (7.1 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Fireplace
  • Signage
  • Wheelchair Accessible
  • Reception
  • Basement
  • Central Heating
  • Fully Carpeted
  • Partitioned Offices
  • Shower Facilities
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
146800-143-060-0003-004-100
Land Assessment
$30,000 (2023)
Improvements Assessment
$91,000 (2023)
Total Assessment
$121,000 (2023)
Annual Taxes
$11,745 ($3.09/SF)
Tax Year
2024
  • Listing ID: 32519692

  • Date on Market: 7/19/2024

  • Last Updated:

  • Address: 3612 Seneca St, Buffalo, NY 14224

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