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29197390

2137 Seneca St, Buffalo, NY 14210

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap
$1,222,753
143 days on market
Updated 52 days ago

Dollar General

Details
Property Type Retail
Sub Type Convenience Store
Square Footage 9,100
Cap Rate 7.7%
NOI $94,152
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 04/30/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options Three, Five Year Options
Price per SqFt $134
Year Built 2012
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/04/2012

Retail | 7.70% CAP | 9,100 SqFt

Marketing description

***Brand New 5-Year Lease Renewal Demonstrating Tenant’s Continued Commitment to this Store***

Investment highlights

-Absolute NNN Lease with 6+ Years Remaining Due to a Brand-New 5-Year Lease Renewal

-2012 Built-to-Suit Concrete Block Construction

-9,100 Square Foot Prototype Store

-Three, Five-Year Options with 10% Rental Increases Remaining

-Tenant Fully Reimburses for Real Estate Taxes

-Store is Part of Dollar General’s National Insurance Program

-More Than 231,000 People Within Five Miles

-Located Approximately Five Miles from Downtown Buffalo

-Dense Infill Location with Residual Real Estate Value

-Site Sees More Than 12,700 Vehicles Per Day Passing By

-More Than 100,000 Homes Within Five Miles

-Located Less Than One Mile From Mercy Hospital of Buffalo (349 Patient Beds)

-Near Countless Credit Tenants, Hospitals, Colleges and Other Major Economic Drivers

-Buffalo is the Second Largest City in New York

-Located Just a Half Hour From Niagara Falls

-Part of the Buffalo-Niagara Falls MSA (Population of Approximately 1.2 Million People)

-Investment Grade S&P “BBB” Credit

Listing Contacts

CS
FL FL SL3407088
Marcus & Millichap
Listed by Marcus & Millichap

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$94,152.00
$7,846.00/mo

Valuation Metrics

0
DSCR
7.7%
Cap Rate
7.7%
ROI

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Additional Information

Name
John Horowitz
License
10311204479
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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