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Heritage Square 61-81 Walnut St 34,600 SF Retail Building Lockport, NY 14094 $1,231,626 ($35.60/SF) 11.50% 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
Sale Type
Investment or Owner User
Property Type
Building Size
34,600 SF
Building Class
C
Year Built
1974
Price
$1,231,626
Price Per SF
$35.60
Cap Rate
11.50%
NOI
$141,637
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
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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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