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  • $1,000,000

    585 Niagara St #1, Buffalo, NY 14201

    9beds
    0baths
    14,119sqft
    Multi Family
    Built in 1920
    -- sqft lot
    $1,136,800 Zestimate®
    $71/sqft
    $1,583 Estimated rent

    Home value

    $1,136,800

    $989,000 - $1.28M

    $1,583/mo

    Zestimate® history
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    $1,583/mo

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    $1,583/mo

    Rent Zestimate®

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    $6,840/mo

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    $6,840/mo

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    What's special

    Explore 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!

    Zillow last checked:

    Listing updated:

    Listed by:

    Ryan Burke 716-572-2848,

    Keller Williams Realty WNY,

    Nicholas Giambra 716-239-6432,

    Keller Williams Realty WNY

    Bought with:

    Ryan Burke, 10301222154

    Keller Williams Realty WNY

    Source: NYSAMLSs,MLS#: B1504660MLS LogoOriginating MLS: Buffalo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 9
    • Bathrooms: 0
    Heating
    • Gas, Baseboard, Forced Air
    Appliances
    • Included: Gas Water Heater
    Features
    • Flooring: Hardwood, Varies, Vinyl
    • Basement: Full
    • Has fireplace: No
    Interior area
    • Total structure area: 14,119
    • Total interior livable area: 14,119 sqft

    Property

    Parking
    • Parking features: None, No Driveway, No Garage
    Features
    • Levels: Two
    • Stories: 2
    Lot
    • Size: 5,871 Square Feet
    • Dimensions: 44 x 132
    • Features: Near Public Transit
    Details
    • Parcel number: 1402000998300006031000
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Brick
    • Roof: Asphalt,Flat
    Condition
    • Resale
    • Year built: 1920

    Utilities & green energy

    • Sewer: Connected
    • Water: Connected, Public
    • Utilities for property: Sewer Connected, Water Connected

    Community & HOA

    Community
    • Features: Other, See Remarks
    Location
    • Region: Buffalo

    Financial & listing details

    • Price per square foot: $71/sqft
    • Tax assessed value: $525,000
    • Annual tax amount: $12,557
    • Date on market: 10/16/2023
    • Cumulative days on market: 49 days
    • Listing terms: Cash

    Price history

    DateEventPrice
    7/6/2024Listing removed--
    Source: Zillow Rentals Report a problem
    6/28/2024Price change$1,175-6%
    Source: Zillow Rentals Report a problem
    5/13/2024Listed for rent$1,250
    Source: Zillow Rentals Report a problem
    2/16/2024Sold$1,000,000$71/sqft
    Source: NYSAMLSs #B1504660 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: Front Park

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • District: Buffalo

    Source: NYSAMLSs. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.