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Buffalo MSA Walgreens | Limited Competition 9050 Erie Rd 12,664 SF Retail Building Angola, NY 14006 $3,360,000 ($265.32/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
- The next closest Walgreens is 13 miles away while the nearest CVS is 15 miles away.
- 1 mile from Lake Erie and near Evangola State Park.
- Situated on ±99,752 square feet (2.29 Acres) of land along NY Route 5.
- Positioned along the area’s primary commercial and commuter corridor with direct visibility and access.
EXECUTIVE SUMMARY
We are pleased to market for sale the Walgreens property located at 9050 Erie Road, Angola, NY (the “Property”). Walgreens has been operating at this location for over 15 years under a absolute triple-net (NNN) lease with no landlord responsibilities, with 9 years of firm term remaining and sits on a 2.29-acre parcel.
The Property is located along Erie Road (NY Route 5), the area’s primary commercial and commuter corridor, with direct access and visibility from the roadway. It is positioned between the Village Center of Angola and the shores of Lake Erie, both approximately 1 mile away. The surrounding area includes John T Elementary, William G Middle School and Lake Shore High School and regional tenants such as Tops Friendly Markets, Rite Aid, Tim Hortons, Key Bank, and Napa Auto Parts. There is limited competition in the area with a Rite Aid adjacent to the Property with the next closest Walgreens located approximately 13 miles away and the nearest CVS approximately 15 miles away.
Angola is located about 20 miles southwest of Buffalo and benefits from proximity to Evangola State Park and Lake Erie, which draw seasonal visitors for beach access, camping, boating, and fishing.
Listed in conjunction with Brian Brockman, Bang Realty - New York Inc, 513-898-1551, wg@bangrealty.com, NY DRE Lic. 10311208985.
The Property is located along Erie Road (NY Route 5), the area’s primary commercial and commuter corridor, with direct access and visibility from the roadway. It is positioned between the Village Center of Angola and the shores of Lake Erie, both approximately 1 mile away. The surrounding area includes John T Elementary, William G Middle School and Lake Shore High School and regional tenants such as Tops Friendly Markets, Rite Aid, Tim Hortons, Key Bank, and Napa Auto Parts. There is limited competition in the area with a Rite Aid adjacent to the Property with the next closest Walgreens located approximately 13 miles away and the nearest CVS approximately 15 miles away.
Angola is located about 20 miles southwest of Buffalo and benefits from proximity to Evangola State Park and Lake Erie, which draw seasonal visitors for beach access, camping, boating, and fishing.
Listed in conjunction with Brian Brockman, Bang Realty - New York Inc, 513-898-1551, wg@bangrealty.com, NY DRE Lic. 10311208985.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,664 SF
Building Class
C
Year Built
2009
Price
$3,360,000
Price Per SF
$265.32
Cap Rate
10%
NOI
$336,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.29 AC
Zoning
Commercial
Parking
52 Spaces (4.11 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 144489-235-130-0003-015-100 | Improvements Assessment | $2,200,000 |
| Land Assessment | $500,000 | Total Assessment | $2,700,000 |
PROPERTY TAXES
Parcel Number
144489-235-130-0003-015-100
Land Assessment
$500,000
Improvements Assessment
$2,200,000
Total Assessment
$2,700,000
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
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Buffalo MSA Walgreens | Limited Competition | 9050 Erie Rd
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