Bank

Canandaigua National Bank & Trust

1155 Ridge Rd, Webster, NY 14580

Listing Price: $1,972,000

Cap Rate
5.25%
Tenant Name
Canandaigua National Bank & Trust
Years Remaining On Lease
14.8
Gross SF
3,168
Guarantor
Corporate Guarantee
Rentable SF
3,168
Price/Gross SF
$622.47
Lease Type
NNN Ground Lease
Rent Per Square Feet
$32.67

Investment Overview

The subject property is a Canandaigua National Bank & Trust located at 1155 Ridge Road in Webster, New York. The 3,168 square foot building is located on 1.08 acres of land on the corner of Ridge Road and Jackson Road. The tenant operates on an absolute NNN ground lease, which they just extended for an additional 15 years through 2035. The tenant also has three five-year options to extend the lease with rental increases every five years. This is an absolute NNN ground lease meaning the landlord has no responsibilities, making this the perfect property for an investor looking for a stable asset with zero responsibility. The property is located on Ridge Road (Route 404), which has an average traffic count of over 16,500 vehicles per day. Right across the street from the bank is a Wegmans anchored shopping center, which also includes a Hobby Lobby. Less than half a mile from the property is a 650,000+ square foot shopping center including Kohl’s, HomeGoods, Michaels, TJ Maxx, Target, Dick’s Sporting Goods, LA Fitness, Buffalo Wild Wings, Sally Beauty, Panera Bread, Five Guys, and more. Route 104 is less than one mile from the property and has an average daily traffic count over 48,000. Canandaigua National Bank & Trust is located roughly 12 miles from downtown Rochester, New York. Other retailers in the area include Walgreens, McDonald’s, AutoZone, Chase Bank, Sherwin Williams, Savers, Starbucks, Wendy’s, and more.

Investment Highlights

  • Brand New 15-Year Lease Extension
  • Absolute NNN Ground Lease
  • Located Directly Across from a Wegmans Shopping Center

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Broker of Record

    License(s): NY: 10311205789

    New York

Bank

Canandaigua National Bank & Trust

Listing Price: $1,972,000

Cap Rate
5.25%
Tenant Name
Canandaigua National Bank & Trust
Years Remaining On Lease
14.8
Gross SF
3,168
Guarantor
Corporate Guarantee
Rentable SF
3,168
Price/Gross SF
$622.47
Lease Type
NNN Ground Lease
Rent Per Square Feet
$32.67

Investment Highlights

  • Brand New 15-Year Lease Extension
  • Absolute NNN Ground Lease
  • Located Directly Across from a Wegmans Shopping Center

Investment Overview

The subject property is a Canandaigua National Bank & Trust located at 1155 Ridge Road in Webster, New York. The 3,168 square foot building is located on 1.08 acres of land on the corner of Ridge Road and Jackson Road. The tenant operates on an absolute NNN ground lease, which they just extended for an additional 15 years through 2035. The tenant also has three five-year options to extend the lease with rental increases every five years. This is an absolute NNN ground lease meaning the landlord has no responsibilities, making this the perfect property for an investor looking for a stable asset with zero responsibility. The property is located on Ridge Road (Route 404), which has an average traffic count of over 16,500 vehicles per day. Right across the street from the bank is a Wegmans anchored shopping center, which also includes a Hobby Lobby. Less than half a mile from the property is a 650,000+ square foot shopping center including Kohl’s, HomeGoods, Michaels, TJ Maxx, Target, Dick’s Sporting Goods, LA Fitness, Buffalo Wild Wings, Sally Beauty, Panera Bread, Five Guys, and more. Route 104 is less than one mile from the property and has an average daily traffic count over 48,000. Canandaigua National Bank & Trust is located roughly 12 miles from downtown Rochester, New York. Other retailers in the area include Walgreens, McDonald’s, AutoZone, Chase Bank, Sherwin Williams, Savers, Starbucks, Wendy’s, and more.

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Broker of Record

  • John Krueger

    Broker of Record

    License(s): NY: 10311205789

    New York

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