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29442181
29442182

4588 South Park Ave, Buffalo, NY 14219 For Sale

RT
NY NY-30TR0558114
HUNT Commercial
Listed by HUNT Commercial
$2,200,000
172 days on market
Updated 4 days ago

4588 South Park Ave

Details
APN 160.14-1-5
Property Type Office
Sub Type Traditional Office, Executive Office
Square Footage 16,656
Units 3
Cap Rate 7.95%
NOI $175,000
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $132
Broker Co-Op Yes
Class A
Year Renovated 2012
Buildings 3
Stories 3
Acreage 2.500
Zoning B-1
Parking Spaces 35 spaces
Parking per 1,000 SqFt 2.10
Investment Type Net Lease
Occupancy Date 05/31/2026

Office | 7.95% CAP | 16,656 SqFt

Marketing description

Conveniently situated on the roundabout at South Park Avenue (Rt. 62) and Big Tree Road (Rt. 20), just minutes from I-90, Rt. 219, and Highmark Stadium,4588 South Park Avenue consists of three structures (a mixture of Class A commercial office and storage) totaling approximately 17,000 square feet, and 2.5 acres. This impeccably maintained property, with an existing flexible term Net Lease, represents a rare investment and/or self-use opportunity. Originally built in 1901, the primary, 8,800 SF, three-story Victorian structure has had much of its historic detail and character restored but also has been thoughtfully renovated to add modern decorative elements and conveniences to its entry/lobby/reception and administration areas, two conference/meeting spaces, approximately 15 private offices, and five bathrooms. Other amenities include restored hardwood floors, exquisite staircases, moldings, millwork throughout, several fireplaces with mosaic tile and carved wood mantels and surrounds, solid core hardwood and glass doors, several leaded glass windows and functioning elevator. The well-maintained and updated mechanicals service all four working floors (including the lower level). There are newer windows (in addition to the restored, original leaded glass) and roofing systems, both interior and exterior paint, landscaping, decorative hardscape, and parking lot resurfacing. The second 7,680 SF building, originally built in 1927, is a two-story barn that was added onto for additional storage and a full bathroom in the 1980’s. The barn is heated (no AC), has a concrete floor, and a metal roof. The use options for this structure are endless, but most recently has been used as an employee gym/work-out facility and vehicle storage. The third, 400 SF structure, also built in 1901, is a beautifully restored stone block and wood-sided cottage generating additional rental income. The sealed and striped asphalt parking lot offers approximately 35-40 parking spaces and approximately 15 garaged spaces in the barn/garage. Curb cuts on both South Park and Big Tree for customers and staff. Existing lease and tenant details, as well as financials, are available upon request.

Location Description

South park Ave near Big Tree Road


Investment highlights


Listing Contacts

RT
NY NY-30TR0558114
HUNT Commercial
Listed by HUNT Commercial

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$175,000.00
$14,583.33/mo

Valuation Metrics

0
DSCR
7.95%
Cap Rate
7.95%
ROI

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Additional Information

Name
Ronald "Gunner" Tronolone
License
NY-30TR0558114
Brokerage
Hunt Commercial Real Estate
Brokerage Phone
716-854-5943
Title
Real Estate Associate Broker
Brokerage Address
403 Main Street
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