388 Franklin Street presents a rare opportunity to own a standalone building within Buffalo's Allentown Historic District on a corner lot at Franklin and Edward Street. Originally constructed in the 1880s, the property later served as a residence operated by the Missionary Sisters of Our Lady of Mercy, giving the building a distinctive architectural character rarely found in today's market. The 3,756 SF interior spans two main levels plus an attic, anchored by a formal chapel space, common living areas, and supported by a full kitchen and large pantry. Two main staircases and a rear staircase provide multiple points of access throughout the building. Multiple entry points throughout the building offer flexibility for converting the property into individual units. The upper level contains several bedroom suites with bathrooms to add further flexibility. An additional ± 1,878 SF basement offers spaces suited to storage, mechanical use, or future build-out, giving a buyer multiple paths for redevelopment. Currently vacant and available for sale, the property is well positioned for conversion into residential units or a professional/office use supported by flexible N-2E zoning. On-site parking directly in the front of the property and a rear outdoor area, previously used as a playground, add further outdoor space for use. Complete architectural and MEP construction documents have been developed for an 8-unit apartment historic rehabilitation of the building, with Part 1 Historic Tax Credit approval already secured. 388 Franklin Street, located just minutes from downtown Buffalo in one of the city's most desirable historic neighborhoods, offers a unique combination of architectural character, flexible use potential, and locational strength.