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Take 5 3028 State st 1,735 SF Retail Building Olean, NY 14760 $2,071,428 ($1,193.91/SF) 7% Cap Rate
Investment Highlights
- Brand new 2025 build-to-suit construction for Take 5 | 15-Year absolute NNN lease with zero landlord responsibilities
- The property qualifies for bonus depreciation (consult with a tax professional for details)
- Well positioned along West State St which sees approximately 17,000 vehicles daily
- 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)
- Located less than a mile from St Bonaventure university with an enrollment of 3,053 students
Executive Summary
Broker of Record
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
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
Sale Type
Investment
Property Type
Building Size
1,735 SF
Year Built
2025
Price
$2,071,428
Price Per SF
$1,193.91
Cap Rate
7%
NOI
$145,000
Tenancy
Single
Building Height
1 Story
Nearby Major Retailers
Property Taxes
| Parcel Number | 042089-094-062-0001-010-000-0000 | Improvements Assessment | $0 |
| Land Assessment | $8,100 | Total Assessment | $8,100 |
Property Taxes
Parcel Number
042089-094-062-0001-010-000-0000
Land Assessment
$8,100
Improvements Assessment
$0
Total Assessment
$8,100
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Take 5 | 3028 State st
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