Available For Sale - Retail

3,905 SF | Show Pricing $

AVAILABILITY DETAILS

Size
3,905 SF
Price/SF
Show Pricing $
Listing ID
SA435543
Notes
Cap Rate 6.24%

NOI $302,629

Building Size 3,905 sqft

Lot Area 0.89 acres

Lease TypeTriple Net

Year Built 2011

Zoning GB

Parking Spots 19



DESCRIPTION

Rare Key Bank Investment Property with Exceptional Fundamentals

• Long Term Lease with Strong Corporate Guarantee - 11+ Year Lease with Key Bank (S&P A- Credit Rating | Investment Grade Tenant | $137B Assets)

• Top Performing Branch - The Subject Bank Boasts over $107 Million in Deposits – Above the National Average and One of the Highest in the Region

• 10% Rent Increase August 2021 and Every Five Years Thereafter (Including Option Periods) - Provides Great Inflation Hedge

• Desirable Drive-Thru Use - Site Contains Three Drive-Thru Lanes Making Branch Well Positioned for the Future of Both Banking and Retail

• Drive-Thru Component – One of the Few Key Bank Locations in the Region that has Remained Open through Q2 2020 given Three Drive-Thru Lanes

• NNN Lease with No Landlord Responsibilities - Ownership Benefits from an Ease of Management Investment Prime Banking Location in Buffalo with Positive Performance Trends

• Highly Visible Corner Location - Property is Situated Along Niagara Falls Rd. (36k+ Cars/Day) with Approximately 200 ft. of Frontage and Multiple Driveway Access Points

• Need - Niagara Falls Road (AKA Highway 62) is a Major Artery that Connects Amherst and North Buffalo to Niagara Falls State Park

• Regional Draw - Key Bank is Located Less than Four Miles from Buffalo University and 10 Miles from Buffalo International Airport

• Significant On-Site Parking with Planned Key Bank Expansion - Parcel Consist of a Large .89 Acre Lot with Tenant Plans to Expand Parking by 6 Additional Stalls

• Excellent Retail Synergy - Hard Corner Location with Close Proximity to Wegmans, Kohl’s and Tops Market

• Immediate Growth in Area - Plans Filed for Development of a State-of-the-Art Delta Sonic Car Wash and Auto Use on Adjacent Parcels

DOCUMENTS
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Alex Kozakov, CBRE