deal image
2207-2235 Niagara StBuffalo, NY 14207
The Niagara & Ontario Plaza
Asset ClassRetail
Year Built1986
Land: 3.05 AcresOccupancy: 70.1%Cap Rate: 5.91%Access Data Room
Stabilized Cap Rate: 9.51%
overview of deal

Overview

Retail Units: 8

Year Built: 1986

Retail NRA (SF): 39,336±

Lot Size (AC): 3.05±

Current NOI: $159,445

Projected NOI: $256,660

Price/SF: $69

Current Cap Rate: 5.91%

Proforma Cap Rate: 9.51%

Occupancy: 70.1%

 

Access the Data Room

Investment Highlights

In-Demand Location

Easy access to NYS 190 (63,628 AADT ) and the Scajaquada Expressway (Rt 198) (28,813 AADT ) and Traffic Signal access at Niagara and Ontario Streets.

9.5%± Stabilized Cap Rate

Significant upside potential through leasing the remaining vacant units. New ownership can stabilize the property and achieve a 9.5%± cap rate by securing tenants for the available spaces.

Robust Market Metrics

Strong market occupancy of 95.1% provides a clear path for new ownership to achieve stabilized occupancy.

Strong Credit Tenants

The property benefits from two credit tenants occupying 56.1% of the building and a Tim Horton’s ground lease.

deal gallery image
deal gallery image
deal gallery image
2207-2235 Niagara StBuffalo, NY 14207

Contacts

Sam FinklerSenior Director, National Investment Sales(646) 663-6007sfinkler@besenpartners.com
Paul J. NigidoSenior Financial Analyst (646) 424-5350pnigido@besenpartners.com
Ronald H. CohenChief Sales Officer(646) 424-5317rcohen@besenpartners.com
Jared E. RehbergDirector of Marketing Operations(646) 424-5317rcohen@besenpartners.com
deal image

Inquire

Listing provided by Revere CRE