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31838872
31838876

2949 Elmwood Avenue, Buffalo, NY 14217 For Sale

AN
NY NY 10401247677
ICONIC Real Estate
Listed by ICONIC Real Estate
$600,000
87 days on market
Updated 12 days ago

2949 Elmwood Avenue

Details
Property Type Retail, Office
Sub Type Storefront, Traditional Office (+1)
Square Footage 8,828
Units 30
NOI $60,000
Occupancy 30%
Tenancy Multi
Pro-Forma Cap Rate 10.00%
Class B
Year Built 1980
Year Renovated 2020
Buildings 1
Acreage 0.330
Zoning TND
Investment Type Owner/User
Ground Lease No

8 Unif office Building with Owner Hold Mortage

Marketing description

Positioned along a high-visibility corridor in Tonawanda, 2949 Elmwood Ave offers a rare opportunity to acquire a large eight-unit office building with significant value-add potential. The property features separate utilities, allowing flexible leasing options for investors or owner-occupants seeking to control operating costs. Currently, an urgent care medical center occupies two of the spaces, a 3rd medical office , providing an established commercial presence and steady activity at the property. Five units are vacant and ready for immediate occupancy, making this an excellent opportunity for an owner-occupant business, medical practice, or investor seeking to lease up the remaining suites. The building benefits from solid mechanical systems, practical layouts for professional offices, and a large on-site parking lot, an important advantage for medical or professional tenants. The building is equipped with an elevator, is ADA compliant, and features an automatic opening front door for easy access. There are 30 parking spaces for the office. Located directly across from Kenmore Mercy Hospital, the property sits in a highly desirable location for medical, healthcare, and professional office users who benefit from proximity to the hospital and surrounding medical services. 2949 Elmwood Avenue sit on a combined 0.51-acre parcel of prime commercial land along a high-traffic primary Street corridor, offering exceptional visibility, ample parking potential, and strong redevelopment or owner-occupant opportunities. This is a compelling opportunity for a National Retailer investors, medical users, mixed use, food court, or owner-occupants looking to secure a well-located office property with strong upside and leasing potential in a prime Tonawanda location. The owner will consider holding a mortgage on 2949 Elmwood for a qualified buyer for a term of up to five (5) years.

Investment highlights

High Traffic Count, Owner Hold Mortage, 8 Units, Turn key, development opportunity

Listing Contacts

AN
NY NY 10401247677
ICONIC Real Estate
Listed by ICONIC Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$60,000.00
$5,000.00/mo

Valuation Metrics

0
DSCR
10%
Cap Rate
10%
ROI

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Additional Information

Name
Ayat Nieves
License
NY 10401247677
Brokerage
Iconic Real Estate
Brokerage Phone
7164045470
Title
Real Estate Salesperson
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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