Listed by Cushman & Wakefield Pyramid Brokerage Company, Inc - Latham, New York, Cushman & Wakefield Pyramid Brokerage Company - Ithaca, New York
$2,500,000
1700-1724 Genesee St
Details
Property Type Retail
Sub Type Commercial
Square Footage 38,458
Lease Type NNN
Price per SqFt $65
Development Opportunity with McDonalds Income
Marketing description
McDonald's ground lease at 1700 Genesee Street (3,656+/- SF), 1724 Genesee Street, former/vacant bowling alley (34,802+/- SF on 3.3 acres) and an additional 1.31 acres of vacant land on the corner of Sunset and Shepard Place. McDonald's lease commencement was in 1999 and they are currently in their 2nd of 4 five (5) year renewal options. Bowling alley and vacant land are well positioned for redevelopment. Please contact the listing brokers with questions.
Investment highlights
- 34,802± SF former bowling alley on 4.61± acres of land available for redevelopment
- 3,656± SF ground lease McDonald's on 1.11± acres of land
- Urban Mixed Use (UMU) zoning allows for a number of uses including office, multifamily, retail, and other uses
- High traffic area in busy retail corridor
- Immediate area retail includes Walgreens, Bagel Grove, and Tony's Pizzeria, Family Dollar, AutoZone, Market 32, and more
- Municipal water/sewer and National Grid gas/electric
- Bowling alley and vacant land can be purchase separately for $1,200,000 or together with the McDonalds for $2,500,000
Listing Contacts
Listed by Cushman & Wakefield Pyramid Brokerage Company, Inc - Latham, New York, Cushman & Wakefield Pyramid Brokerage Company - Ithaca, New York
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