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WellNOW Urgent Care 3450 Union Rd 3,200 SF Retail Building Buffalo, NY 14225 $1,750,000 ($546.88/SF) 6.29% Cap Rate
Investment Highlights
- Absolute NNN Ground Lease
- Third busiest intersection in Buffalo MSA: Traffic counts at Walden/Union Intersection are 27,734/29,190
- 10% rent increase every 5 years
Executive Summary
As exclusive agent, Cushman & Wakefield | Pyramid Brokerage Company is pleased to present the opportunity to acquire this long-term absolute NNN ground lease with WellNOW Urgent Care located at 3450 Union Road in Cheektowaga, NY (“The Property”) – a 3,200 square foot retail property located on 0.49 acres. This single tenant building was constructed in 2019 by WellNOW, which is in year seven (7) of a twenty (20) year lease with an additional four (4) five (5) year options. The property is next door to the strongest performing regional mall in WNY, a ten-minute drive from downtown Buffalo, and located at one of the busiest intersections in WNY. The site has excellent accessibility with multiple points of ingress-egress and is proximate to I-90. This offering provides a unique opportunity for investors to purchase a passive investment with stable cash flow with a committed tenant and annual rental increases.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,200 SF
Building Class
C
Year Built
2019
Price
$1,750,000
Price Per SF
$546.88
Cap Rate
6.29%
NOI
$110,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.49 AC
Zoning
05C
Parking
32 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 143089-102-020-0001-024-000 | Improvements Assessment | $1,065,000 |
| Land Assessment | $115,000 | Total Assessment | $1,180,000 |
Property Taxes
Parcel Number
143089-102-020-0001-024-000
Land Assessment
$115,000
Improvements Assessment
$1,065,000
Total Assessment
$1,180,000
Contacts
-
Lucian Issa -
Robert Stewart -
Jonathan Weinstein -
Cushman and Wakefield/Pyramid Brokerage Company
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
Presented by
WellNOW Urgent Care | 3450 Union Rd
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