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Auto Service - Gas-Conv

Pep Boys Auto Service & Tires | Upstate New York | Recent Lease Extension | Pad to a Home Depot

1881 Ridge Rd, West Seneca (Upstate New York), NY 14224

Listing Price: $1,272,000

Cap Rate
7.00%
Tenant Name
Pep Boys
Years Remaining On Lease
5.2
Gross SF
6,298
Guarantor
Corporate Guarantee
Rentable SF
6,298
Price/Gross SF
$201.97
Lease Type
Double Net
Rent Per Square Feet
$14.14

Investment Overview

West Seneca is a town in Erie County, New York. The City is a centrally located interior town of the county, and a suburb of Buffalo. West Seneca, Orchard Park and Hamburg form the inner “Southtowns”, a cluster of middle-class suburban towns. Downtown Buffalo and its cultural offerings are located about 12 minutes drive to the west, while both the American and Canadian sides of Niagara Falls are about a 35-minute drive to the northwest. West Seneca is home to a variety of shopping centers, with one of the most popular being the Southgate Plaza. The McKinley Mall in Hamburg and Walden Galleria in Cheektowaga are both within a 15-minute drive. Buffalo is the second-largest city in the U.S. state of New York and the largest city in Upstate New York. As of 2019’s census estimates, the city proper population was 255,284. The city is the county seat of Erie County and serves as a major gateway for commerce and travel across the Canadian border, forming part of the bi-national Buffalo Niagara Region and Buffalo–Niagara Falls metropolitan area. As of 2018, the Buffalo-Niagara Falls metropolitan area had a population of 1,130,152; the combined statistical area, which adds Cattaraugus County, had a population of 1,215,826.

Investment Highlights

  • Recent Lease Extension Demonstrating a Strong Commitment to the Location. Lease Features over a 13% Rental Increase in the Option. Multiple Renovations to the Building and Parking Lot in Recent Years.
  • Positioned Along Area's Major Retail & Traffic Corridor - Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 20k Vehicles. Near I-90 (90k+ VPD).
  • Icahn Enterprises L.P. (Pep Boys's Parent Company) has a diversified Portfolio of Numerous Operating Segments and more than $24.63 Billion of Assets
  • In Close Proximity to Southgate Plaza - A 500k+ Sq.Ft. Shopping Center featuring over 100 Retailers and Offices.
  • Pad to a Home Depot and Surrounded by Numerous other National Retailers including ALDI, Big Lots, Wegmans, Walgreens, Rite Aid, Save-A-Lot and many more.
  • Densely Populated Area: Features more than 171k People Residing within a 5-Mile Radius.

Exclusively Listed By

Auto Service - Gas-Conv

Pep Boys Auto Service & Tires | Upstate New York | Recent Lease Extension | Pad to a Home Depot

Listing Price: $1,272,000

Cap Rate
7.00%
Tenant Name
Pep Boys
Years Remaining On Lease
5.2
Gross SF
6,298
Guarantor
Corporate Guarantee
Rentable SF
6,298
Price/Gross SF
$201.97
Lease Type
Double Net
Rent Per Square Feet
$14.14

Investment Highlights

  • Recent Lease Extension Demonstrating a Strong Commitment to the Location. Lease Features over a 13% Rental Increase in the Option. Multiple Renovations to the Building and Parking Lot in Recent Years.
  • Positioned Along Area's Major Retail & Traffic Corridor - Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 20k Vehicles. Near I-90 (90k+ VPD).
  • Icahn Enterprises L.P. (Pep Boys's Parent Company) has a diversified Portfolio of Numerous Operating Segments and more than $24.63 Billion of Assets
  • In Close Proximity to Southgate Plaza - A 500k+ Sq.Ft. Shopping Center featuring over 100 Retailers and Offices.
  • Pad to a Home Depot and Surrounded by Numerous other National Retailers including ALDI, Big Lots, Wegmans, Walgreens, Rite Aid, Save-A-Lot and many more.
  • Densely Populated Area: Features more than 171k People Residing within a 5-Mile Radius.

Investment Overview

West Seneca is a town in Erie County, New York. The City is a centrally located interior town of the county, and a suburb of Buffalo. West Seneca, Orchard Park and Hamburg form the inner “Southtowns”, a cluster of middle-class suburban towns. Downtown Buffalo and its cultural offerings are located about 12 minutes drive to the west, while both the American and Canadian sides of Niagara Falls are about a 35-minute drive to the northwest. West Seneca is home to a variety of shopping centers, with one of the most popular being the Southgate Plaza. The McKinley Mall in Hamburg and Walden Galleria in Cheektowaga are both within a 15-minute drive. Buffalo is the second-largest city in the U.S. state of New York and the largest city in Upstate New York. As of 2019’s census estimates, the city proper population was 255,284. The city is the county seat of Erie County and serves as a major gateway for commerce and travel across the Canadian border, forming part of the bi-national Buffalo Niagara Region and Buffalo–Niagara Falls metropolitan area. As of 2018, the Buffalo-Niagara Falls metropolitan area had a population of 1,130,152; the combined statistical area, which adds Cattaraugus County, had a population of 1,215,826.

Exclusively Listed By

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