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Heritage Square 61-81 Walnut St 34,600 SF 100% Leased Retail Building Lockport, NY 14094 $1,100,000 ($31.79/SF) 9.69% Cap Rate
EXECUTIVE SUMMARY
Heritage Square Plaza is a prime investment opportunity in a high-traffic corridor. Anchored by a newly renewed lease with Rent-A-Center (NYSE: UPBD), the plaza offers reliable cash flow and national credit tenancy. Its location at a signalized intersection ensures maximum visibility and easy access. With existing vacancy, there’s also a clear value-add opportunity for investors to boost returns through lease-up potential. This property can also be sold with adjacent 53 Walnut St for a larger combined investment opportunity.
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Building Size
34,600 SF
Building Class
C
Year Built
1974
Price
$1,100,000
Price Per SF
$31.79
Cap Rate
9.69%
NOI
$106,642
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.85
Lot Size
0.94 AC
Opportunity Zone
Yes
Zoning
C
Parking
50 Spaces (1.45 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 290900-109-013-0003-007-000 | Improvements Assessment | $365,000 |
| Land Assessment | $235,000 | Total Assessment | $600,000 |
PROPERTY TAXES
Parcel Number
290900-109-013-0003-007-000
Land Assessment
$235,000
Improvements Assessment
$365,000
Total Assessment
$600,000
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Heritage Square | 61-81 Walnut St
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