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Global Telecom Building 225 Delaware Ave 16,296 SF 100% Leased Retail Building Buffalo, NY 14202 $2,650,000 ($162.62/SF) 9% Cap Rate
Executive Summary
The subject property consists of a two-story, masonry, mixed-use retail/office building with a full basement. The property was constructed in 1937 and contains approximately 8,616 +/- square feet of retail space on the first floor and contains approximately 7,680 +/- square feet of finished office space on the second floor for a total of approximately 16,296 +/- square feet of gross building area.
The first floor consists of (3) retail tenants. Spot Coffee, Jim ‘s Steak Out and The Vintage Room. The second floor consists of a common hallway, several individual offices, and (2) common non-handicap accessible lavatories. The second-floor stairways and common area contain the original terrazzo flooring and altrium/skylights. The individual offices are small and vary in size and (3) of the tenants occupy (2) or more suites. Spot Coffee occupies an office suite consisting of (5) spaces and has the prime corner view. Currently the second floor is configured for (6) tenants including the landlord. The second-floor offices and common area are in overall average condition.
The subject property also contains a leased billboard sign which is affixed to the roof and is leased to Lamar Advertising.
The first floor consists of (3) retail tenants. Spot Coffee, Jim ‘s Steak Out and The Vintage Room. The second floor consists of a common hallway, several individual offices, and (2) common non-handicap accessible lavatories. The second-floor stairways and common area contain the original terrazzo flooring and altrium/skylights. The individual offices are small and vary in size and (3) of the tenants occupy (2) or more suites. Spot Coffee occupies an office suite consisting of (5) spaces and has the prime corner view. Currently the second floor is configured for (6) tenants including the landlord. The second-floor offices and common area are in overall average condition.
The subject property also contains a leased billboard sign which is affixed to the roof and is leased to Lamar Advertising.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
16,296 SF
Building Class
B
Year Built
1937
Price
$2,650,000
Price Per SF
$162.62
Cap Rate
9%
NOI
$238,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.19
Lot Size
1.94 AC
Opportunity Zone
Yes
Zoning
Commercial - Restaurant, bar, retail, commercial, office space
Parking
100 Spaces (6.7 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Vintage Room
- Retailer
- -
- -
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Lorem Ipsum
-
Jan 0000
Company that is located and helping guests in Buffalo, New York.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Vintage Room | Retailer | - | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (89)
Nearby Major Retailers
Property Taxes
| Parcel Number | 140200-111-370-0004-001-000 | Improvements Assessment | $980,000 |
| Land Assessment | $95,000 | Total Assessment | $1,075,000 |
Property Taxes
Parcel Number
140200-111-370-0004-001-000
Land Assessment
$95,000
Improvements Assessment
$980,000
Total Assessment
$1,075,000
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Global Telecom Building | 225 Delaware Ave
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