431 Genesee St - Auto Repair FOR SALE


Chittenango, NY 13037
$1,497,000 USD
480-221-4221
431 Genesee St, Chittenango, NY for Sale
$1,497,000 USD
Auto Repair - FOR SALE
1/9
null | 8.25% Cap Rate

431 Genesee St
Chittenango, NY 13037


HIGHLIGHTS

  • 3+ Years Remaining | Options To Extend | Popular Brand
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Signalized, Hard-Corner Intersection (21,900 VPD) | Excellent Visibility | Significant Street Frontage | Large Sign
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Advance Auto Parts investment property located in Chittenango, New York. The tenant, Advance Stores Company, Inc., has approximately 3 years remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Advance Auto Parts currently has over 4,000 locations across the United States, Canada, Mexico, and more.

FOR SALE DETAILS

PRICE

$1,497,000 USD

PRICE/SF

$229 USD /SF

CAP RATE

8.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts | 3+yrs Remain NN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,185 SF

ZONING

Commercial

APN/PARCEL ID

254801-041-081-0001-047-000-0000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.