427 Delaware

15,494 SF 100% Leased Office Building Buffalo, NY 14202 $1,750,000 ($113/SF) 8.50% Cap Rate

Investment Highlights

  • Central location
  • Historic Building
  • Parking Lot
  • Income Producing

Executive Summary

PRICE REDUCED! Rare opportunity to own a signature building on prestigious Delaware Avenue.
Seller occupies 2nd floor office space, but is downsizing. Perfect opportunity for a professional services firm looking for the benefits of property ownership. Fully leased ground floor generates $135k in additional annual income, with all tenants on long-term leases with annual escalations.
The property is ideally situated adjacent to the Central Business District and the Buffalo Niagara Medical Campus. It is located in the heart of the City, with a large parking lot that provides easy stress-free access.
PLEASE SEE ATTACHED BROCHURE WITH ADDITIONAL INFORMATION.

Property Facts

Sale Type
Investment or Owner User
Sale Condition
Ground Lease (Leased Fee)
Property Type
Office
Building Size
15,494 SF
Building Class
B
Year Built/Renovated
1931/2003
Price
$1,750,000
Price Per SF
$113
Cap Rate
8.50%
NOI
$148,750
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,747 SF
Building FAR
0.87
Lot Size
0.41 AC
Zoning
N-2C - The N-2C zone addresses mixed-use, walkable centers of Buffalo's most compact neighborhoods.
Parking
21 Spaces (1.36 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Controlled Access
  • Skylights
  • Kitchen
  • Storage Space
  • Basement
  • Central Heating
  • High Ceilings
  • Natural Light
  • Partitioned Offices
  • Secure Storage
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Allentown Village Society
  • Arts, Entertainment, and Recreation
  • -
  • -
  • -
  • MJ Peterson
  • Real Estate
  • -
  • -
  • -
  • SMITH + CO
  • Retailer
  • -
  • -
  • -
  • The Swing Lab by Buffalo Golf and Social
  • Retailer
  • -
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Allentown Village Society Arts, Entertainment, and Recreation - - -
MJ Peterson Real Estate - - -
SMITH + CO Retailer - - -
The Swing Lab by Buffalo Golf and Social Retailer - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 2nd Floor
  • 6,500 SF
  • Office
  • Full Build-Out
  • 30 Days

Turn-key office space on prestigious Delaware Avenue. Perfect for a professional service company that requires proximity to Central Business District and/or the Buffalo Niagara Medical Campus. Come see this impressive Class A office space loaded with historic art deco details, including marble entry stairs, terrazzo floors, and plaster ceiling reliefs. High-end white oak trim package, doors, and built-in casework throughout. Large windows and interior skylights provide fantastic natural light throughout. – 6,500 SF Class A Office Space – Currently occupied by owner – will be vacated upon sale or lease – 7 Large private offices overlooking Delaware Avenue. Each office can comfortably accommodate a few desks/workstations if desired. – Large built-in work-stations can accommodate 14-26 people (based on user preference). – Conference room. AV equipped, comfortably seats 18+. – Kitchenette, printer room, IT room, and large storage closets. – Loaded with historic art deco details, including marble entry stairs, terrazzo floors, and plaster ceiling reliefs. High-end white oak trim package, doors, and built-in casework throughout. — Parking lot w/ 21 spaces. – 8 dedicated to ground floor tenants, 13 for upstairs office space. — Quick, easy access to anywhere in the region. – Blocks from the 33 Expressway and the 190 Interstate. – Located along a major bus route and a few blocks from the Allen St.? subway station.

Space Size Space Use Condition Available
2nd Floor 6,500 SF Office Full Build-Out 30 Days

2nd Floor

Size
6,500 SF
Space Use
Office
Condition
Full Build-Out
Available
30 Days
Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (91)

PROPERTY TAXES

  • Listing ID: 28825742

  • Date on Market: 6/22/2023

  • Last Updated:

  • Address: 427 Delaware, Buffalo, NY 14202