3327 Chambers RdBig Flats, NY 14845

Property Details for 3327 Chambers Rd

Year built

1984

Lot size

2.08 AC

Property size (Sq ft)

3,719 SF

Zone code

06 - INDUSTRIAL

Property type

Drive through restaurants

APN

072400 57.02-2-58.1

APU

7240057022581

Description

This exceptional investment opportunity presents a 3,719-square-foot McDonald's restaurant located at 3327 Chambers Rd, Horseheads, NY 14845, in Chemung County. The property sits on a 2.08-acre lot and includes 52 parking spaces. Built in 1984 and extensively renovated in 2023, this single-story building boasts a 100% occupancy rate under an absolute NNN lease with McDonald's, expiring August 1, 2034. The lease features a remaining term of 9.7 years, with a 10% rent increase scheduled for 2029 and similar increases built into four 5-year options. The current Net Operating Income (NOI) is $60,000, yielding a 4.25% cap rate on the $1,412,000 asking price. This McDonald's enjoys a prime location across from the 1.1 million-square-foot Arnot Mall, a major shopping destination with numerous national retailers. The property also benefits from its proximity to several other significant retail centers, including Big Flats Consumer Square and Southern Tier Crossing, creating a strong synergy and high customer traffic. This location consistently ranks among the top two-thirds of McDonald's nationally. The property's strong tenant, long-term lease, recent renovation, and strategic location make it an attractive investment opportunity with significant potential for future growth.

Location Insight

City

Horseheads

County

Chemung

State

New York

Latitude

42.1609

Longitude

-76.8791

CBSA code

21300

CBSA name

ELMIRA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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