68 Tonawanda St - Apartments FOR SALE


Buffalo, NY 14207- Black Rock
$6,350,000 USD
716-983-4789
68 Tonawanda St, Buffalo, NY for Sale
$6,350,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

68 Tonawanda St
Buffalo, NY 14207
Black Rock


HIGHLIGHTS

  • All new utility services
  • Submetered for gas and electric
  • Fully sprinkled
  • 5-yr old roof
  • Certificate of Occupancy
  • All new building systems (plumbing, electric, mechanical, fire protection)

OVERVIEW

Redeveloped in 2020, this former historic train freight house has been transformed into a low-maintenance, townhome style multifamily asset featuring 35 spacious loft apartments and 3,044 SF commercial space (leased through 2030 with a 5 year option). The building is efficiently designed with no interior common areas or building systems to maintain—making it well-suited for stable, long-term ownership. New proactive property management team has recently come aboard. The community offers ample gated on-site parking, enhancing convenience and security. The unit mix is primarily two bedroom, two-bath units, with select one- and three-bedroom layouts, all featuring modern finishes, open-concept floor plans, and in-unit laundry. With private entrances and a layout that mirrors townhome living, the property is well-positioned for future condo conversion, offering clear value-add potential. Located at the convergence of Buffalo’s West Side and Black Rock neighborhoods, the location benefits from ongoing investment activity, including the $35M Niagara Streetscape project. It offers excellent access to regional anchors like Buffalo State University, Rich Products Global HQ, and the new $50M Great Point Studios film production campus. The area is walkable and amenity-rich, anchored by two major grocers and vibrant corridors along Niagara and Amherst Streets featuring bars, restaurants, and other amenities. The property has direct access to the I-90 Thruway, 198 Expressway, high-frequency NFTA bus lines, and a growing bike infrastructure network. This is a rare opportunity to acquire a distinctive multifamily asset in one of Buffalo’s fastest-growing corridors

FOR SALE DETAILS

PRICE

$6,350,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

35

PRICE/UNIT

$181,429

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Black Rock Freight House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1906

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

N-1S

APN/PARCEL ID

140200-088-500-0002-001-200

ASK ABOUT THIS PROPERTY

Matt HartrichSchneider Real Estate ServicesMore Info
716-983-4789

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Matt HartrichSchneider Real Estate ServicesMore Info
716-983-4789

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.