505 Delaware Avenue, Buffalo, NY 14202

• 19,052 sqft

Property Description

Prime Allentown Mixed-Use Investment & Development Opportunity Rare opportunity to acquire a premier mixed-use investment and development site in the heart of Buffalo’s highly desirable Allentown District. This combined offering includes a fully operational 15,704 SF three-story office building at 505 Delaware Ave along with an approved mixed-use development site at 515 Delaware Ave. 505 Delaware Ave features 34 on-site parking spaces and generates income with upside potential. The building is well positioned for continued office use, repositioning, or integration into future redevelopment plans. 515 Delaware Ave includes approved plans for a 5-story, 9,758 GSF mixed-use building consisting of 40 market-rate apartments, providing immediate value-add and long-term development potential without the uncertainty of entitlement risk. Situated on approximately 0.52 acres, the property is strategically located between Allen Street and Virginia Street, just a short walk to Buffalo General Medical Center, Roswell Park, the Theater District, and the Buffalo Niagara Medical Campus. The surrounding area is home to law firms, medical practices, boutique retail, restaurants, and national retailers including Tim Hortons and Walgreens, making this an exceptional live-work-play corridor. This offering presents a unique opportunity to: • Acquire an income-producing asset with redevelopment upside • Develop a 40-unit market-rate apartment building in a high-demand urban core • Control a significant footprint along one of Buffalo’s most established commercial corridors Ideal for investors, developers, or owner-users seeking scale in one of Buffalo’s strongest mixed-use neighborhoods.

Listing Status:

Active

Date Added:

February 27, 2026

Data Last Updated:

March 27, 2026 at 7:18PM

Listing Office:

Donovan Real Estate Services : 716-998-2943

Listing Agent:

Joseph J. Jacobi Jr. : 716-863-7731

MLS ID:

R1664249

Interior

• Flooring: CarpetOtherSee Remarks
• Heating: GasForced Air
• Fireplace: Fireplaces: 0
• Disability Feature: Stair LiftSee Remarks

Exterior

• Parking: On SiteParking spaces: 34

Construction

• Roofing: AsphaltFlatMembraneRubber
• General: 3

Location

• Originating MLS: NYS_R
• School District: Buffalo
• County: Erie

Lot

• Zoning: N-2C140200-100-780-0002-007-120

Utilities

• Utilities: Sewer ConnectedWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: NYS_R