9160 Main StClarence, NY 14031

Property Details for 9160 Main St

Year built

1994

Lot size

2.72 AC

Property size (Sq ft)

12,423 SF

Property type

Retail space

APN

143200 71.13-2-6

APU

143200711326

Description

This exceptional investment opportunity presents a 12,782 square foot Rite Aid pharmacy in Clarence, NY, boasting a 13-year absolute NNN lease (11.1 years remaining) commencing December 16, 2022, and expiring December 15, 2035. The property, built in 1993 and situated on a 2.57-acre lot, enjoys a prime location at the signalized intersection of Main Street (over 14,500 VPD) and Sheridan Drive (over 9,000 VPD), offering easy accessibility with multiple access points. The lease includes a corporate guarantee from Rite Aid, the third largest drugstore chain in the U.S., with over 2,245 locations. The property features a drive-thru and ample parking, catering to a high average household income exceeding $121,500 within a 3-mile radius. The asking price is $3,028,750, representing a 6.00% cap rate and a price per square foot of $236.95. The property generates a net operating income (NOI) of $181,725. Rent bumps of 5% are built into the lease in years 6 and 11, and in each of the nine, 5-year lease options. This location benefits from a successful 29+ year operating history and is conveniently located just 5 miles from the Buffalo Niagara International Airport. The property offers a secure, long-term investment with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,312,676

  6.5%

  $3,057,855

  7%

  $2,839,437

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,995,020

  Geo Method

  $1,969,458

• Alternative Use

  Use

  Valuation

  Residential

  $2,579,415

  Hospitality

  $2,362,730

  Educational

  $1,965,764

  Medical

  $2,033,370

  Retail

  $3,057,855

Location Insight

City

Clarence

County

Erie

State

New York

Latitude

42.97

Longitude

-78.6491

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].