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Tops Friendly Market: Amherst, NY 3980 Maple Rd 109,461 SF Retail Building Amherst, NY 14226 $18,333,300 ($167.49/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN Lease
- Opportunity to Acquire Adjacent Parking Parcel at End of Term
- Strategic Location Amid Robust Retail Corridor | #1 Retail Area in Buffalo MSA
- Excellent Performer with Long Operating History
- Extensive Renovations in 2022
Executive Summary
CBRE is pleased to exclusively offer for sale the 109,461 SF single-tenant Tops Friendly Market situated on ±7.50 acres in Amherst, NY—a component of the Buffalo, NY MSA (Population: 1.16 million+). Tops Friendly Market’s absolute NNN lease was extended for 15 years through 2038 and now has ±12.6 years of term remaining. Tops’ rent increases by $50,000 in January 2029 and 2034 during the current term and has 5% increases every 5 years during the one 10-year renewal option. Boasting an operating history of 36 years, this Amherst location is an excellent performer with a rent-to-sales under 3.50% and a 23% increase in sales since 2020.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
109,461 SF
Building Class
B
Year Built/Renovated
1989/2006
Price
$18,333,300
Price Per SF
$167.49
Cap Rate
6%
NOI
$1,100,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
7.50 AC
Opportunity Zone
Yes
Zoning
CTR-5
Parking
428 Spaces (3.91 Spaces per 1,000 SF Leased)
Frontage
532’ on MAPLE RD
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 142289-054-030-0001-009-110 | Improvements Assessment | $10,010,000 |
| Land Assessment | $5,580,000 | Total Assessment | $15,590,000 |
Property Taxes
Parcel Number
142289-054-030-0001-009-110
Land Assessment
$5,580,000
Improvements Assessment
$10,010,000
Total Assessment
$15,590,000
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Abby Kelly -
Katie Goldberg -
Sarah Cashimere-Warren -
CBRE, Inc.
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