Rite Aid 2401 Genesee St 11,421 SF Retail Building Cheektowaga, NY 14225 $2,607,021 ($228.27/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Tenancy
- Upcoming 22% Rental Increase in Option Period
- Strategic Market Consolidation - INCREASING STORE SALES
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Rite Aid located at 2401 Genesee St, Cheektowaga, NY 14225. The site consists of roughly 11,421 rentable square feet of building space on an estimated 1.25-acre parcel of land. This Rite Aid is subject to a 20-year Triple Net (NNN) lease, which commenced 8/20/1999. The current annual rent is $247,667 and has scheduled increases of in options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,421 SF
Building Class
C
Year Built
2000
Price
$2,607,021
Price Per SF
$228.27
Cap Rate
9.50%
NOI
$247,667
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.25 AC
Zoning
05C
Parking
44 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 143089-101-280-0007-001-100 | Improvements Assessment | $786,023 |
| Land Assessment | $400,000 | Total Assessment | $1,186,023 |
CONTACTS
-
Cade Kearn -
Anthony D'Ambrosia -
Glen Kunofsky -
NNN Pro Group
