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Checkers 2374 Niagara Falls Blvd 1,365 SF Retail Building Tonawanda, NY 14150 $1,200,000 ($879.12/SF) 6.75% Cap Rate
Investment Highlights
- New 15-Year NNN Lease With 10% Rental Increases Every 5 Years and in Each of Four, 5-Year Renewal Options | No Landlord Responsibilities
- Lease is Franchisee Guaranteed by a Strong, Award Winning Operator With a Long Operating History | Store Sales Are Significantly Above Average
- Property Features Three Points of Ingress and Egress, a Digital Pylon Sign and a Large Parking Lot With 26 Spaces
- Rent Set At 5 Year Average Rent to Sales Ratio of 6% | Ranked in the Top 9% of Checkers Locations Nationwide for Site Visits According to Placer.AI
- Property Features Rare Indoor Dining Area, Outdoor Seating and Drive Thru Window | 1,365-SF on a +/-0.45 Acre Parcel
- Corner Location With Strong Visibility Along Niagara Falls Blvd, Seeing 33,400+ Vehicles Per day
Executive Summary
New 15-Year NNN Lease With 10% Rental Increases Every 5 Years | Buffalo-Niagara Falls MSA
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,365 SF
Building Class
C
Year Built
1964
Price
$1,200,000
Price Per SF
$879.12
Cap Rate
6.75%
NOI
$81,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.45 AC
Zoning
GB
Parking
30 Spaces (21.98 Spaces per 1,000 SF Leased)
Frontage
50’ on Niagara Falls Blvd
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 146489-040-470-0003-013-000 | Improvements Assessment | $125,000 |
| Land Assessment | $122,000 | Total Assessment | $247,000 |
Property Taxes
Parcel Number
146489-040-470-0003-013-000
Land Assessment
$122,000
Improvements Assessment
$125,000
Total Assessment
$247,000
Contacts
-
Darpan Patel -
Dan Yozwiak -
Quinn Ryan -
John Catanzarite -
Sam Elyassaki -
Peter Sibicky -
John Horowitz -
Marcus & Millichap
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Photos
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Presented by
Checkers | 2374 Niagara Falls Blvd
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