Savers
Buffalo, NY
Key Details
| Price: | $4,305,000 |
|---|---|
| Cap Rate: | 7.50% |
| Annual Rent: | $322,875 |
| Address: | 3701 McKinley Parkway, Buffalo, New York 14219 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 22 Years |
|---|---|
| Lease Commencement: | 1/1/2011 |
| Lease Expiration: | 12/31/2032 |
| Lease Term Remaining: | 7.9 Years |
| Rental Increases: | 6.67% in 2028, 9.37% (1st Option), Fair Market Rent (2nd Option) |
| Lot Size: | 2.69 Acres |
| Building Size: | 21,525 SF |
| Year Built: | 1986 |
NNN Pro is pleased to present the exclusive listing for a Savers located at 3701 McKinley Parkway, Buffalo, New York 14219. The site consists of roughly 21525 rentable square feet of building space on an estimated 2.69-acre parcel of land. This Savers is subject to a 22-year Triple Net (NNN) lease, which commenced 1/1/2011. The current annual rent is $322,875 and has scheduled increases of 6.67% in 2028, 9.37% (1st Option), Fair Market Rent (2nd Option).
About the Investment
- Triple-Net (NNN) Lease | Passive Investment | The property is subject to a long-term triple-net lease. The tenant reimburses for all expenses related to maintaining the roof and structure of the building.
- 20-Year Lease | Approximately Eight (8) Years Of Lease Term Remaining | Two (2), Five (5)-Year Options | The property is subject to a long-term triple-net lease with approximately 8 years of lease term remaining. The tenant reimburses for all expenses related to maintaining the roof and structure of the building.
- Upcoming 6.67% Rent Escalation In January 2028 | 9.37% Rent Escalation In Option 1 | Fair Market Value Rent In Option 2 | The lease of the subject property offers a future landlord with an increasing yield as the next rent bump is occurring in January 2028. The lease features a 9.37% rent escalation in Option 1 and a fair market value option thereafter.
Key Details
| Price: | $4,305,000 |
|---|---|
| Cap Rate: | 7.50% |
| Annual Rent: | $322,875 |
| Address: | 3701 McKinley Parkway, Buffalo, New York 14219 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 22 Years |
|---|---|
| Lease Commencement: | 1/1/2011 |
| Lease Expiration: | 12/31/2032 |
| Lease Term Remaining: | 7.9 Years |
| Rental Increases: | 6.67% in 2028, 9.37% (1st Option), Fair Market Rent (2nd Option) |
| Lot Size: | 2.69 Acres |
| Building Size: | 21,525 SF |
| Year Built: | 1986 |
Talk to the Pros
Judson Kauffman
jkauffman@nnnpro.com
License: NY: 10401296108
Hannan Ben Yosef
hbenyosef@nnnpro.com
License: NY: 10401358655
Matt Sorace
msorace@nnnpro.com
License: NY: 10401367850
Broker of Record
Glen Kunofsky
NNN Properties, LLC
License: 49KU1129178
Related Listings
Loading...
Kinney Drugs
9543 Brewerton Road, Brewerton, New York 13029
PRICE$2,648,800
CAP RATE7.50%
Loading...
Verizon
266 West Main Street, Malone, New York 12953
PRICE$496,551
CAP RATE7.25%
Loading...
Bavi Nails and Top Choice
5859 New York 31, Cicero, New York 13039
PRICE$1,123,000
CAP RATE7.26%
Loading...
Mattituck Car Wash
6565 Main Road, Mattituck, New York 11952
PRICE$2,632,258
CAP RATE7.75%
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 your needs.