KeyBank
1930 Niagara Falls Blvd., Tonawanda, NY 14150
Marketing description
Our featured asset is located in the city of Tonawanda, one of the most established and desirable suburban communities within the greater Buffalo metropolitan area. Positioned immediately north of Downtown Buffalo (approximately 12 miles south), Tonawanda benefits from a dense residential population, strong commercial activity, and a strategic location within the Buffalo-Niagara region. The community has long been recognized as a premier location for both residents and businesses due to its stable demographics, quality public services, and position along several of the region's most heavily traveled transportation corridors. With household incomes above regional averages and a strong consumer base, Tonawanda continues to serve as a key commercial hub within Erie County.
Accessibility is one of Tonawanda's greatest strengths. The property benefits from proximity to Interstate 290 (Youngmann Expressway), Interstate 190, Interstate 90 (New York State Thruway), and U.S. Route 62 (Niagara Falls Boulevard), providing efficient connectivity throughout the Buffalo-Niagara region and direct access to major employment centers across Western New York. The area's transportation network supports substantial commuter traffic and allows convenient travel to Downtown Buffalo, Niagara Falls, Rochester, Southern Ontario, and numerous regional distribution hubs. Additionally, the property is located approximately 8 miles from Buffalo Niagara International Airport, the region's primary commercial airport serving millions of passengers annually.
The Tonawanda trade area is supported by one of the strongest retail corridors in Western New York. Niagara Falls Boulevard serves as a major commercial thoroughfare featuring an extensive collection of national retailers, restaurants, entertainment venues, hotels, and service-oriented businesses. The property is located just steps from retail destinations such as Boulevard Consumer Square, Boulevard Mall, The Shops at Sheridan Plaza, and numerous grocery-anchored shopping centers that attract consumers throughout Erie and Niagara Counties.
With its strategic location, strong transportation infrastructure, dense population base, diverse employment drivers, and proximity to major healthcare, education, and retail destinations, Tonawanda continues to be one of Western New York's most desirable suburban communities and represents a compelling location for long-term commercial investment.
Investment highlights
- Investment Grade (S&P "BBB"), Zero Management Asset with Below Market Rents ($16.05/S.F.): Absolute NNN Lease with KeyBank (NYSE: KEY)
- High Deposits!! Top 6% Across All KeyBank Locations in the United States
- 10% Rental Increase in 2028, Offering Income Growth & Will Take the CAP Rate to 6.44% Based on Asking Price
- KeyBank: One of the Nation's Largest Bank-Based Financial Services Companies with 950+ Branch Locations Across 15 States, 17,000+ Employees, Reporting Record Revenue of $7.5 Billion in 2025 (Up 16% Year-Over-Year)
- 2025, Tenant Self-Funded, Complete Interior/Exterior Remodel and Early Lease Option Extension That Starts in 2028 with No LL Concessions
- Strategically Located on Main Retail Corridor Sitting on Oversized 3.27 Acre Parcel Site with 5 Drive-Thru Lanes Included
- Signalized Corner Location with Extremely High Traffic of Over 51,000 Vehicles Per Day and Just off I-290 with 200,000+ Vehicles Per Day
- Tenured Tenant with Continual Lease Extensions Signed Since 1978, Demonstrating Success and Commitment to Location
- Strong Demographics: High Population Density with over 101,000 People in 3-Mile Radius and Reaching over 275,000 in a 5-Mile Radius, with Average Household Incomes of $103,000
- Dominant Retail Corridor: Immediate Vicinity of Boulevard Consumer Square, Boulevard Mall, Target, ULTA Beauty, Walmart, Home Depot, Trader Joe's, Starbucks, Chick-fil-A and Numerous National Retailers, Restaurants, and Service Providers
- Strong Educational Foundation: Direct Access to the University at Buffalo (2 Miles Away & Largest Public University in New York with ~34,000 Students & Faculty), Buffalo State University (~8,000+ Students & Faculty), Daemen University, Canisius University and Erie Community College (~10,000 Students & Faculty), Supporting a Highly Educated Workforce and Stable Population Base
- Heavy Concentration of Major Employers with Close Proximity to Downtown Buffalo & Niagara Falls: M&T Bank Corporate (~22,000 Employees Company-Wide), Kaleida Health (~10,000 Employees System-Wide), Catholic Health System (~10,000 Employees System-Wide), Kenmore Mercy Hospital (~1,500 Employees, 184 Beds), Delaware North Global HQ (~425 Employees), and Rich Products Global HQ (~13,000 Associates Worldwide)
- Approximately 10 Miles to Buffalo Niagara International Airport and Conveniently Positioned Between Downtown Buffalo and Niagara Falls, Providing Access to Major Employment Centers, Tourism Destinations and Regional Transportation Infrastructure
- Strong Local Schools: Tonawanda Middle/High School Routinely Ranked by U.S. News & World Report as a Top High School in the Buffalo-Niagara Metro Area
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