5685 Mckinley PkwyHamburg, NY 14075

Property Details for 5685 Mckinley Pkwy

Year built

1965

Lot size

0.19 AC

Property size (Sq ft)

918 SF

Property type

Drive through restaurants

APN

144889 183.15-1-13

APU

14488918315113

Description

This exceptional investment opportunity presents a 918-square-foot retail space currently operating as a successful Chinese fast-food restaurant, Ginger & Garlic, located at 5685 McKinley Parkway in Hamburg, NY, 14075. The property, built in 1965, sits on an 8,100-square-foot lot and includes 8 parking spaces. The asking price is $249,900, translating to $272.22 per square foot. The property is classified as Class C and zoned for business use. The current lease is a gross lease with a single tenant currently occupying 100% of the space. The lease expires on December 31, 2024, with a remaining term of approximately 0.1 years. A five-year lease option exists with built-in annual rent increases. The tenant, who desires to remain, is responsible for their own utilities, garbage, and water. This net lease investment offers a strong, established tenant and the potential for continued rental income growth. The property's location adjacent to the Hamburg Fair Grounds provides excellent visibility and accessibility. This is a rare opportunity to acquire a profitable, established business with a reliable tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $244,799

  6.5%

  $225,968

  7%

  $209,827

• Comparable approach

  Method

  Valuation

  Relative Method

  $221,320

  Geo Method

  $208,714

• Alternative Use

  Use

  Valuation

  Residential

  $190,613

  Hospitality

  $174,600

  Educational

  $145,265

  Medical

  $150,261

  Retail

  $225,968

Location Insight

City

Hamburg

County

Erie

State

New York

Latitude

42.7327

Longitude

-78.8124

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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