For Sale
$3,541,666

125 Genesee St Fayetteville, NY 13066

High-Yield NNN Lease, Prime Location

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a brand-new, 3,500 square foot Splash Car Wash located at 125 W Genesee St, Fayetteville, NY 13066. Built in 2024, this state-of-the-art facility benefits from a 20-year absolute NNN ground lease with a corporate guarantee, eliminating landlord responsibilities. The lease commenced July 1, 2024, and expires June 30, 2044, offering a substantial remaining term of approximately 19.6 years. Rent increases by 10% every five years, ensuring consistent income growth. Three five-year renewal options further enhance the long-term value. The property sits on a 0.9-acre lot and boasts a 6.00% cap rate with a current NOI of $212,500. Its prime location within a Target-anchored shopping center, attracting over 5.9 million shoppers annually, provides exceptional visibility and high traffic. Nearby tenants include prominent retailers such as McDonald's, Tops Friendly Markets, Kohl's, and more, solidifying its position in a thriving commercial area. This is a rare opportunity to acquire a secure, high-performing investment with significant long-term potential. The property's strong tenant, Splash Car Wash, a well-established operator with over 80 locations, further mitigates risk. The asking price is $3,541,666.

Highlights

  • Brand-new, 3,500 SF Splash Car Wash in Fayetteville, NY.
  • 20-year absolute NNN ground lease with corporate guarantee, commencing July 1, 2024.
  • 10% rent increases every five years, plus three five-year renewal options.
  • 6.00% cap rate, $212,500 current NOI, $3,541,666 asking price.
  • 0.9-acre lot in Target-anchored shopping center with over 5.9 million annual shoppers.

Property Details for 125 Genesee St

Property type
Retail properties, Auto shops
Square Feet
3,500 SF
Year Built
2024
Lot Size (sq. ft)
39,204 SF

Location Insight

City
Fayetteville
County
Onondaga
State
New York
Latitude
43.0289944
Longitude
-76.0139625

FAQs

What type of property is this?
Retail property - High-Yield NNN Lease, Prime Location
Where is the retail property located?
The property is located at 125 Genesee St Fayetteville, NY.
What is the asking price?
The asking price for this property is $3,541,666.
What are key features of this property?
This property features: Brand-new, 3,500 SF Splash Car Wash in Fayetteville, NY.; 20-year absolute NNN ground lease with corporate guarantee, commencing July 1, 2024.; 10% rent increases every five years, plus three five-year renewal options.
How can I contact the broker?
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125 Genesee St
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