2207 Niagara St, Buffalo, NY 14207
39,336 SF | 100% Leased | Retail Building | Buffalo, NY 14207 | $2,700,000 ($69/SF) | 5.91% Cap Rate
For Sale
Active
Asking Price $2,700,000
- Property Type
-
Retail
- Square Feet
- 39,336 SF
- Price / Square Foot
- $69
Listing Contacts
Samuel Finkler
Reese Weaver
Property Overview
Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale, The Niagara & Ontario Plaza at 2207-2235 Niagara Street, Buffalo, NY 14207. Built in 1986, the property is 3 retail buildings built on a 3.05± SF lot with 8 retail units ( 70.1% occupancy) with 39,336± retail NRA (SF).
VISIT THE DEAL ROOM
https://platform.reverecre.com/project/5e61351f-8843-436f-84ca-cabebd181e16/dashboard
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.
VISIT THE DEAL ROOM
https://platform.reverecre.com/project/5e61351f-8843-436f-84ca-cabebd181e16/dashboard
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.
Property Details
- Class
- B
- Year Built
- 1985
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 132,858 SF
Highlights
- In-Demand Location
- 9.5%± Stabilized Cap Rate
- Robust Market Metrics
- Strong Credit Tenants
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