3200 Elmwood Ave, Buffalo, NY 14217

53,000 SF | 72% Leased | Office Building | Buffalo, NY 14217 | $5,750,000 ($108/SF) | 4.97% Cap Rate

Asking Price $5,750,000

Property Type
Office
Square Feet
53,000 SF
Price / Square Foot
$108

Listing Contacts

Michael Battaglia

Property Overview

Kenton Elmwood Commons is a unique and diversified business re-development park. Historically, the Phillip Sheridan Elementary school, THE FACILITY is now being re-utilized as a versatile retail, office, and recreational and incubator space for a multitude of businesses. The current tenant make- up includes cultural and spiritual facilities, culinary, health fitness, as well as day care. Potential for further re-development for residential housing, theatre and more. Considering the Location, Property Conditions and current Operational Income and & Expenses of the current tenant base, Kenton Commons exhibits numerous advantages going forward. Opportunity exists to expand cash flow thru Cap Ex. Enhancements and added tenancy. This is an excellent opportunity to acquire a one-of-a-kind flexible lease hold opportunity, and benefit from regional and local appreciation, with the continuance of a "value add" strategy through rent increases and unit enhancements".

Property Details

Class
B
Year Built/Renovated
1948/2019
Stories
2
Property Subtype
Office/Residential, Loft/Creative Space, Distribution, Office Live/Work Unit
Lot Size (sq. ft)
348,480 SF

Highlights

  • UNIQUE DEVELOPMENT OPPORTUNITY WITH CURRENT GOING CONCERN / MIXED USE FLEX AND COMMERCIAL LEASED SPACE
  • RETIRED ELEMENTARY SCHOOL-REPOSITIONED WITHIN KENTON COMMUNITY - SUCCESSFUL RE-PURPOSED FACILTIY W/ "VALUE ADD"
  • OVER 53,000 SQ FT. OF SPACE, 57% CURRENT OCCUPANCY / FUTURE DEVELOPMENT SITE FOR 152 RESIDETNIAL RENTAL UNITS
  • TOWN OF TONANWANDA HAS APPROVED RE-ZONING FOR PROJECT TO MOVE FORWARD / CURRENT PIOT PROGRAM IN EFFECT
  • EXCELLANT LOCATION, PUBLIC TRANSPORTAION, OPEN PARKING, UPDATED MECHANICALSF, W/ 4+ ACRES FOR DEVELOPMENT3VE
  • FINAL DESIGN AND ENGENEERING APPROVALS REQUIRED

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