For Sale
$796,875

449 West AveAlbion, NY 14411

High-yield self storage & bottle return.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a freestanding, 8,125 square foot self-storage facility and bottle return center in Albion, NY. The property boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $63,750 annually. Currently operating at 100% occupancy with two tenants under a triple-net (NNN) lease with 5 years remaining, this property offers significant upside potential. The 16-unit facility, built in 2002, sits on a 1.3-acre lot at 449 West Ave, a major thoroughfare (US Route 31) with over 4,000 vehicles passing daily. The property benefits from a dense population within a 3-mile radius, exceeding 8,000 residents and 5,000+ daytime employees. Its convenient location is also a 4-minute commute to Albion Central Schools and 1 minute from GCC Albion Campus Center. The asking price is $796,875, translating to $98.07 per square foot. Rent bumps are included in the lease agreements. This sale is structured as a sale-leaseback, providing a secure income stream for the buyer. The property is classified as Class C.

Highlights

  • $796,875 asking price for a Class C, 8,125 SF retail property in Albion, NY.
  • Sale-leaseback opportunity with a Net Lease (NNN) structure.
  • 100% occupancy with two tenants on a 5-year lease with rent bumps.
  • 8.00% cap rate and $63,750 Net Operating Income (NOI).
  • 16 storage units in a single building on a 1.3-acre lot, built in 2002.

Property Details for 449 West Ave

Property type
Retail properties, Self storage facilities
Square Feet
8,125 SF
Class
C
Year Built
2002
Buildings
1
Lot Size (sq. ft)
56,628 SF
Units
16

Location Insight

City
Albion
County
Orleans
State
New York
Latitude
43.2412513
Longitude
-78.2081774
449 West Ave, Albion, New York

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449 West Ave
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