Former Rite Aid 811 N Main St 14,605 SF 100% Leased Retail Building Online Auction Sale Jamestown, NY 14701
INVESTMENT HIGHLIGHTS
- Excellent redevelopment or repositioning opportunity as another drugstore, urgent care, or other STNL asset.
- Close proximity to I-86, providing larger regional access.
- Multiple points of ingress/egress from Richmond Plaza and W 8th Street.
- Located on a hard corner with superb visibility from signalized intersection of W 8th St and N Main St.
- The Asset features pylon signage and a drive-thru, which can be repurposed by a future tenant or investor.
- 3.9M SF of retail within a 5-mile radius of the Property.
EXECUTIVE SUMMARY
Colliers is pleased to present for sale the 100 percent fee simple interest in 811 N Main St (the "Property" or the "Asset") located in Jamestown, NY. The former Rite Aid offers a future owner an excellent opportunity to redevelop or reposition the Asset as another drugstore, an urgent care, or other single-tenant net leased property. Located on the hard, signalized corner of N Main St and W 8th St, the Property features excellent visibility. The Property features a drive-thru, pylon signage, and multiple points of access from Richmond Plaza and W 8th St. Finally, the former Rite Aid location is well-positioned within a well-performing retail market with 3.9M square feet of retail within a 5-mile radius.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,605 SF
Building Class
C
Year Built
2003
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.27 AC
Zoning
C-2 - Community Commercial
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (75)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
12,946
35,276
42,712
2020 Population
13,757
37,763
45,103
2029 Population
12,674
34,480
41,869
2024-2029 Projected Population Growth
-2.1%
-2.3%
-2.0%
Daytime Employees
13,820
27,910
33,469
Total Businesses
1,250
2,423
2,860
Average Household Income
$37,930
$51,293
$57,509
Median Household Income
$28,012
$37,534
$41,028
Total Consumer Spending
$107.4M
$346.4M
$445.5M
Median Age
38.1
42.1
43.0
2024 Households
5,717
15,437
18,646
Percent College Degree or Above
9%
11%
12%
Average Home Value
$82,248
$100,223
$119,861
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 060800-387-006-0006-020-000 | Improvements Assessment | $2,208,700 |
| Land Assessment | $191,300 | Total Assessment | $2,400,000 |
SALE ADVISORS
SALE ADVISORS
Barry Swatsenbarg, Executive Vice President
(248) 226-1660
Contact
In 2015, Barry joined Colliers International to expand the Colliers Detroit office reach with his investment sales expertise. He is consistently in the top 200 nationally for Colliers. Barry has been an active investment sales agent for over 24 years, transacted on over 500 deals; 15,000 apartment units and more than 30M SF of commercial assets. Barry has been awarded Everest Club at Colliers for the last several years. (The Everest Club recognizes the top 10% of producers and is Colliers highest award.)
Through his activity with the valuation and disposition of value-add and stabilized, income producing properties, he has successfully worked through periods of economic growth and contraction. He has an extensive history of producing sale results with outside of the box solutions to maximize value.
Over the years, Barry has transacted on hundreds of complicated dispositions, that included receivership, lender debt, REO and stabilized assets. He operates exclusively as a sell-side broker, with transactions spreading across all major investment commercial real estate property types. He has navigated through multitudes of unique and complex scenarios.
Barry is regarded as a highly trusted and well-connected industry expert. He is called upon by financial institutions, private clients and peers alike, for his candid market insight and ability to create effective asset management plans for disposition to aid clients with their ongoing business planning. The results maximize value; regardless of the quality of the asset.
Through his activity with the valuation and disposition of value-add and stabilized, income producing properties, he has successfully worked through periods of economic growth and contraction. He has an extensive history of producing sale results with outside of the box solutions to maximize value.
Over the years, Barry has transacted on hundreds of complicated dispositions, that included receivership, lender debt, REO and stabilized assets. He operates exclusively as a sell-side broker, with transactions spreading across all major investment commercial real estate property types. He has navigated through multitudes of unique and complex scenarios.
Barry is regarded as a highly trusted and well-connected industry expert. He is called upon by financial institutions, private clients and peers alike, for his candid market insight and ability to create effective asset management plans for disposition to aid clients with their ongoing business planning. The results maximize value; regardless of the quality of the asset.
Matt Terrace, Senior Vice President- Investments
(248) 514-7126
Contact
For close to a decade Matt has completely immersed himself in many different aspects of commercial real estate, from retail to development to construction to acquisitions and dispositions, but specializes in Commercial Investment Dispositions and Acquisitions. Matt was exposed to the industry at a young age as it is a family passion handed down through generations. Matt has served both private and institutional clients such as Garrison Investment Group, True North Investments, LNR Partners, Integris Ventures and Alidade Capital. He has also worked with a number of national Tenants in the market including Pet Supplies Plus, Czarnowski and Nuance Communications. Matt’s successful approach stems from the ideology of fully comprehending his client’s needs and consistently putting them first.
ABOUT THE AUCTION PLATFORM
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
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AUCTION CONTACT
Molly Patten
Contact
Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
