431 Genesee St, Chittenango, NY 13037
6,549 SF | Retail Building | Chittenango, NY 13037 | $1,497,000 ($229/SF) | 8.25% Cap Rate
For Sale
Active
Asking Price $1,497,000
- Property Type
-
Retail
- Square Feet
- 6,549 SF
- Price / Square Foot
- $229
Listing Contacts
Patrick Luther
Matthew Mousavi
Grayson Jones
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Advance Auto Parts investment property located in Chittenango, New York. The tenant, Advance Stores Company, Inc., has approximately 3 years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts currently has over 4,000 locations across the United States, Canada, Mexico, and more.
Property Details
- Year Built
- 2007
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding
- Lot Size (sq. ft)
- 29,185 SF
Highlights
- 3+ Years Remaining | Options To Extend | Popular Brand
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Signalized, Hard-Corner Intersection (21,900 VPD) | Excellent Visibility | Significant Street Frontage | Large Sign
- Strong Demographics In 5-Mile Trade Area
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