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%
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.