6908 Buffalo Avenue, Niagara Falls, New York 14304, Niagara Falls, New York 14304
Square Footage : 3,504 Sqft
Visits : 12 in 11 days
$650,000
Features
Heating System :
Gas, Forced Air
Parking :
15
Parking Features :
Other, On Site, See Remarks, Surfaced
Pool Expense : $0
Roof :
Asphalt
Sewer :
Public Sewer
Address Map
State :
NY
County :
Niagara
City :
Niagara Falls
Zipcode :
14304
Street : 6908 Buffalo Avenue, Niagara Falls, New York 14304
Floor Number : 0
Longitude : W79° 0' 55.8''
Latitude : N43° 4' 29.9''
MLS Addon
Office Name : Red Door Real Estate WNY LLC
Association Fee : $0
Bathrooms Total : 0
Building Area : 3,504 Sqft
Business Type :
Bar/tavern/lounge
CableTv Expense : $0
DOM : 10
Electric Expense : $0
Internet Address Display : 1
Internet Listing Display : 1
SyndicateTo : Realtor.com
Listing Terms : Cash
Lot Features :
Rectangular
LotSize Dimensions : 91X131
Maintenance Expense : $0
Parcel Number : 291100-160-082-0001-021-000
Special Listing Conditions :
Standard
Stories Total : 1
Subdivision Name : Buffalo Ave & Sub
Utilities :
Electricity Connected, Sewer Connected
Zoning : C1-A
AttributionContact : 716-866-8361
Property Description
INVESTORS TAKE NOTICE….Look at this package…. A 6 room Motel, a Restaurant, a 2 bedroom ranch house & a parking lot. The restaurant features equipment you need to get started: tables, barstools, kitchen appliances, grill, gas stove and walk in cooler to name a few. The 6 room motel has 3 long term tenants (rent includes heat and electric). The other 3 units are ready to be rented out either long term or nightly. The 2 bedroom remodeled ranch would make an excellent location for an owner/manager to live just steps away from the motel/restaurant. A view of the Niagara River from the restaurant front window adds charm for your guest. Located on Buffalo Ave which is a main throughfare into the City of Niagara Falls and a block from the Grand Island Bridge makes this the perfect opportunity and location to operate your business. This package include 3 parcels: 6908 Buffalo Ave SBL 160.82-1-21…6826 Buffalo Ave SBL 160.82-1-38 and 113 69th St SBL 160.82-1-22
Sale Price of $650k yields the following results:
– Cashflow (free & clear) = $34k
– That is a 26% return on your downpayment of $130k
– A very healthy Cap Rate of 11.36
– Debt Service Coverage Ratio (DSCR) of 1.87. This means that with a commercial lender, this asset looks strong and attractive. Most lenders want to see 1.25 and higher.
– This analysis does not even factor in the potential income that can be drawn from the extra parking lot (parking income for commercial vehicles, storage, buildable lot).
