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Take 5 1941 Elmwood Ave 53,313 SF Retail Building Buffalo, NY 14207 $2,478,685 ($46.49/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand new 2025 build-to-suit construction for Take 5
- 10% rent increases every 5 years for the entire term of the lease (base + options)
- Corporate guaranty from an experienced Take 5 Oil Change operator (±60 T5 locations& 245 locations across all franchise brands)
- 15-Year absolute NNN lease with zero landlord responsibilities
- The property qualifies for bonus depreciation (consult with a tax professional for details)
- Well position along Elmwood Ave which sees nearly 40,000 vehicles daily (intersection of Elmwood and Hertel)
EXECUTIVE SUMMARY
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
After many years in the graphic art industry, Charles Hyatt founded our company in 1959. He started in a 200 square foot office at 499 Franklin Street in Buffalo's Allentown Arts District. In 1961, he moved around the corner to a 2200 square foot store in a turn-of-the-century building at 914 Main Street. Surviving a devastating four-alarm fire in 1965, increased business encouraged him to stay, knock down walls and eventually grow into 30,000 square feet on four levels. In 2019, we moved to 1941 Elmwood Avenue into a 40,000 square foot newly-built single floor headquarters to give all three divisions more space and efficiency.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 140200-078-620-0005-001-000 | Improvements Assessment | $1,302,500 |
| Land Assessment | $884,500 | Total Assessment | $2,187,000 |
PROPERTY TAXES
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Take 5 | 1941 Elmwood Ave
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