A pioneering mixed-use development at the corner of W. Delavan Avenue and Main Street is for sale with a $2.5 million asking price. The property owner is Delavan Station, Inc. Six of the seven retail spaces are currently leased. The exception is the end space – the former Dagwoods Restaurant. That space is approximately 1,100 sq. ft. with an additional 550 sq. ft. outside patio.
The eight apartments on the second floor are leased by Canisius College. The college takes care of all of the maintenance and leasing to students. Each apartment has two bedrooms and one bathroom in 890 sq.ft. of living space. Apartments have patios as well.
“This would be an ideal investment property as it has high visibility at the corner of West Delavan and Main,” says James Geiger of McGuire Development who has the property listing. “There’s a good amount of traffic, it’s a signaled corner, with a metro rail station across the street and metro bus stops in front. It’s also roughly half way between UB South and the Buffalo Niagara Medical Campus, which we all know is booming!”
There is on-site parking for thirty cars and a separate 11-car parking area for the apartments.
Delavan Station Center was built in 1988 by Uniland Development. To this day, it is one of the few new mixed-use developments constructed near a light rail station.
Geiger says it is an exciting time for the real estate market in Buffalo.
“It’s definitely exciting to see Buffalo on the upswing with development, new jobs, the medical school moving downtown, and all of the rest of the new construction,” he says. “The new attitude is reflected in new housing being built and renovated into lofts and developers putting significant amounts of money into both commercial and residential space.”
Get Connected: Jim Geiger, McGuire Development, 716.829.1559