Seller's Agent in 2024
Ryan Burke
WNY Metro Roberts Realty
(716) 572-2848
14 in this area
184 Total Sales
585 Niagara St Unit 1 Buffalo, NY 14201
West Side NeighborhoodEstimated Value: $1,108,114
9
Beds
3
Baths
14,119
Sq Ft
$78/Sq Ft
Est. Value
Highlights
- Property is near public transit
- Forced Air Heating System
- 4-minute walk to Prospect Park
- Wood Flooring
- Baseboard Heating
About This Home
As of February 2024Explore 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!
Last Agent to Sell the Property
Listing by WNY Metro Roberts Realty Brokerage Phone: 716-572-2848 License #10301222154 Listed on: 10/16/2023
Co-Listed By
Listing by Giambra Realty Corp Brokerage Phone: 716-572-2848 License #10311210668
Last Buyer's Agent
Listing by WNY Metro Roberts Realty Brokerage Phone: 716-572-2848 License #10301222154 Listed on: 10/16/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,557
Year Built
- Built in 1920
Lot Details
- 5,874 Sq Ft Lot
- Lot Dimensions are 44x132
Parking
- No Garage
Home Design
- Brick Exterior Construction
Interior Spaces
- 9 Bedrooms
- 14,119 Sq Ft Home
- 2-Story Property
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Vinyl
Location
- Property is near public transit
Utilities
- Forced Air Heating System
- Heating System Uses Gas
- Baseboard Heating
- Gas Water Heater
Community Details
- 11 Units
Listing and Financial Details
- Rent includes trash collection, water
- Tax Lot 31
- Assessor Parcel Number 140200-099-830-0006-031-000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 16, 2023
Closed on
Feb 13, 2024
Sold by
Buffalove Holdings Llc
Bought by
Kdkhatib Enterprises Llc
Seller's Agent
Ryan Burke
WNY Metro Roberts Realty
Buyer's Agent
Ryan Burke
WNY Metro Roberts Realty
List Price
$1,100,000
Sold Price
$1,000,000
Premium/Discount to List
-$100,000
-9.09%
Views
44
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$108,114
Avg. Annual Appreciation
4.84%
Original Mortgage
$750,000
Outstanding Balance
$732,297
Interest Rate
6.62%
Mortgage Type
Commercial
Estimated Equity
$375,817
Purchase Details
Closed on
Sep 26, 2016
Sold by
Jergo Llc
Bought by
Buffalove Holdongs Llc
Purchase Details
Closed on
May 29, 2012
Sold by
Flanders Vent Llc
Bought by
Jergo Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$236,000
Interest Rate
3.9%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 5, 2006
Sold by
Flanders Ventures Llc
Bought by
Flanders Vent Llc
Purchase Details
Closed on
May 27, 2004
Sold by
Wilcox Thomas M and Secchiaroli Michael A
Bought by
Flanders Ventures Llc
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Kdkhatib Enterprises Llc | $991,000 | None Available | |
| Kdkhatib Enterprises Llc | $991,000 | None Available | |
| Kdkhatib Enterprises Llc | $991,000 | None Available | |
| Buffalove Holdongs Llc | $590,000 | None Available | |
| Buffalove Holdongs Llc | $590,000 | None Available | |
| Buffalove Holdongs Llc | $590,000 | None Available | |
| Jergo Llc | $295,000 | None Available | |
| Flanders Vent Llc | $3,725 | None Available | |
| Flanders Ventures Llc | $225,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Kdkhatib Enterprises Llc | $750,000 | |
| Closed | Kdkhatib Enterprises Llc | $750,000 | |
| Previous Owner | Jergo Llc | $236,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/16/2024 02/16/24 | Sold | $1,000,000 | -9.1% | $71 / Sq Ft |
| 12/04/2023 12/04/23 | Pending | -- | -- | -- |
| 10/16/2023 10/16/23 | For Sale | $1,100,000 | -- | $78 / Sq Ft |
Source: Western New York Real Estate Information Services (WNYREIS)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,942 | $918,800 | $68,000 | $850,800 |
| 2024 | $2,942 | $525,000 | $56,600 | $468,400 |
| 2023 | $2,660 | $525,000 | $56,600 | $468,400 |
| 2022 | $2,640 | $525,000 | $56,600 | $468,400 |
| 2021 | $2,640 | $525,000 | $56,600 | $468,400 |
| 2020 | $1,424 | $525,000 | $56,600 | $468,400 |
| 2019 | $7,115 | $185,000 | $5,800 | $179,200 |
| 2018 | $6,577 | $185,000 | $5,800 | $179,200 |
| 2017 | $1,101 | $185,000 | $5,800 | $179,200 |
| 2016 | $6,191 | $185,000 | $5,800 | $179,200 |
| 2015 | -- | $185,000 | $5,800 | $179,200 |
| 2014 | -- | $185,000 | $5,800 | $179,200 |
Source: Public Records
Agents Affiliated with this Home
-
Ryan Burke
-
Nicholas Giambra
Seller Co-Listing Agent in 2024
Nicholas Giambra
Giambra Realty Corp
(716) 670-3721
18 in this area
144 Total Sales
Map
Source: Western New York Real Estate Information Services (WNYREIS)
MLS Number: B1504660
APN: 140200-099-830-0006-031-000
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