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1200 Miracle Mile Dr
Rochester, NY 14623
Sportsman's Warehouse · Retail Property For Sale

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INVESTMENT HIGHLIGHTS

  • Long Term Lease
  • Corporate Guaranteed Lease
  • High Traffic Counts
  • Attractive Rent Increases
  • Strategic Retail Location
  • Strong Demographics

EXECUTIVE SUMMARY

Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Sportsman’s Warehouse investment property located at 1200 Miracle Mile Drive in Rochester, New York (the “Property”). Sportsman’s Warehouse has been at the Property since its construction in 2014, and the current lease term expires in January 2036, followed by two (2), 5-year renewal options. The lease features attractive 5% rent increases every five years through the remaining lease term and first option period, with rent set to fair market rent the start of the second option period. Sportsman’s Warehouse is situated on a pad site to The Marketplace Mall, which has over 800,000 SF of retail space and is undergoing significant redevelopment to modernize and meet the needs of the surrounding communities. The trade area features an extensive array of retail and dining opportunities across several major shopping centers, as well as a significant business presence providing a strong consumer base. The Property is less than a mile from Interstate 390, which connects to Interstates 90 and 590 and offers excellent accessibility to all of Rochester and the surrounding areas.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
55,000 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2014
Price
$8,250,000
Price Per SF
$150
Cap Rate
10%
NOI
$825,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
8.58 AC
Zoning
C - Commercial
Parking
76 Spaces (1.38 Spaces per 1,000 SF Leased)
Frontage
228’ on Miracle Mile Drive

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
26320016112111E
Land Assessment
$1,058,000
Improvements Assessment
$4,342,000
Total Assessment
$5,400,000
  • Listing ID: 32995653

  • Date on Market: 8/29/2024

  • Last Updated:

  • Address: 1200 Miracle Mile Dr, Rochester, NY 14623

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