85 W Chippewa Street, Buffalo, NY 14202
sale
$1,325,000
|
Apartment
Courtesy Of Keller Williams Realty Buffalo Northtowns
PRIME DOWNTOWN BUFFALO MIXED-USE INVESTMENT OPPORTUNITY! Situated in the heart of Buffalo's vibrant Chippewa Entertainment District, this impressive 7,160 sq. ft. property presents an exceptional opportunity to acquire a fully occupied, income-producing asset in one of the city's most prominent entertainment and commercial corridors. Surrounded by popular restaurants, nightlife destinations, hotels, offices, and downtown attractions, this highly desirable location offers excellent visibility, pedestrian activity, and a dynamic urban setting. The property features an established first-floor bar/restaurant with a long-term commercial lease, complemented by four residential apartments above. A standout feature is the spacious, fenced-in rear patio, offering coveted private outdoor space in the heart of downtown Buffalo. An increasingly desirable amenity in the entertainment district, this outdoor area provides valuable opportunities for seasonal dining, social gatherings, and expanded restaurant/bar operations-a distinct competitive advantage in a location where dedicated outdoor space is not always available. Significant capital improvements include a new roof, refreshed exterior, and the complete transformation of previously unfinished third-floor space into two attractive, income-producing apartments. Generating six figures in annual gross rental income, this well-maintained property offers five income-producing units, 100% occupancy, and an attractive investment profile with an approximately 6.25% projected capitalization rate. The commercial lease includes scheduled rent increases and renewal options, while three of the four residential leases have recently been renewed, providing additional income stability. The remaining apartment is occupied by a long-term tenant on a month-to-month basis who has expressed interest in remaining. Combining a premier downtown location, established cash flow, substantial property improvements, and long-term investment potential, 85 W. Chippewa Street represents an outstanding opportunity to own a distinctive mixed-use asset in the heart of Buffalo's thriving entertainment district.
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Property Features
- Age: Over 50 Years Old
- Building Units: 5
- Cooling System: Zoned
- Cooling System: Separate Meters
- Cooling System: Central Air
- Exterior Type: Brick
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Hardwood
- Floor Covering: Varies
- Floors: 3
- Heating System: Zoned
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: B1727597
- Roof Type: Membrane
- Roof Type: Rubber
- Rooms: Basement
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