Shopping Auto Center
Pep Boys Tire & Service Center
1375 Marketplace Dr, Rochester, NY 14623
Listing Price: $2,390,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Ground Lease Pep Boys in Henrietta, NY (Rochester MSA). There are approximately 4 years remaining on the lease followed by 2 five-year options, and the tenant is currently paying below market rates. The subject property is zoned Planned Commercial Development - offering a myriad of options to potentially reposition the property as specialty warhouse, flex, cannabis, and retail.The subject property is located only 0.2 miles off Interstate 390 which has an average of 69,920 vehicles per day. The market has been seeing a rental increase in price per SF of 3% YoY and offers healthy demographics with over 500,000 people residing within a 10-mile radius. Consumer spending in transportation and maintenance sits at an impressive $395,015,952 per year within a 5-mile radius.
Pep Boys Tire & Service Center
Investment Highlights
- Opportunity to increase rent to market rates upon lease expiration
- Ground Lease with no landlord responsibility - tenant responsible for taxes, insurance, and general maintenance
- Strong corporate guaranteed tenant operated by Pep Boys
- Located in a dense retail trade area offering excellent visibility to oncoming traffic
- Myriad of options to reposition the property with Planned Commercial Development zoning
- Traffic count on the expressway sees over 69,000 VPD
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $2,390,000
Investment Highlights
- Opportunity to increase rent to market rates upon lease expiration
- Ground Lease with no landlord responsibility - tenant responsible for taxes, insurance, and general maintenance
- Strong corporate guaranteed tenant operated by Pep Boys
- Located in a dense retail trade area offering excellent visibility to oncoming traffic
- Myriad of options to reposition the property with Planned Commercial Development zoning
- Traffic count on the expressway sees over 69,000 VPD
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Ground Lease Pep Boys in Henrietta, NY (Rochester MSA). There are approximately 4 years remaining on the lease followed by 2 five-year options, and the tenant is currently paying below market rates. The subject property is zoned Planned Commercial Development - offering a myriad of options to potentially reposition the property as specialty warhouse, flex, cannabis, and retail.The subject property is located only 0.2 miles off Interstate 390 which has an average of 69,920 vehicles per day. The market has been seeing a rental increase in price per SF of 3% YoY and offers healthy demographics with over 500,000 people residing within a 10-mile radius. Consumer spending in transportation and maintenance sits at an impressive $395,015,952 per year within a 5-mile radius.
Exclusively Listed By
Broker of Record
Financing By
