1400 Miracle Mile Dr - Bank FOR SALE


Henrietta, NY 14623
$2,320,000 USD
781-776-4006
1400 Miracle Mile Dr, Henrietta, NY for Sale
$2,320,000 USD
Bank - FOR SALE
1/5
null | 6.25% Cap Rate

1400 Miracle Mile Dr
Henrietta, NY 14623


HIGHLIGHTS

  • Attractive Rent Increases
  • Corporate Guaranteed Lease
  • Zero Landlord Responsibilities
  • Strategic Retail Location
  • Strong Credit Tenant
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a corporate leased M&T Bank Ground Lease located at 1400 Miracle Mile Drive in Rochester, NY (the “Property”). M&T Bank has been at the Property since its construction in 1983, and recently extended their lease (2+ years early) demonstrating their commitment to the site and the market. M&T Bank has 9+ years remaining on their lease with two (2) 5-year renewal options. The lease features attractive 5% rental increases at the start of each renewal option period. The Property features 2,542 square feet of building area and is situated on a 1.48- acre parcel. M&T Bank is located along Miracle Mile Drive, a well-established commercial corridor in Rochester, New York, offering strong visibility and convenient access within a dense Monroe County retail market. The Property is situated near signalized intersections and in close proximity to a mix of national retailers, local businesses, service providers, and dining options that contribute to consistent daily traffic and consumer draw. Surrounded by mature residential neighborhoods and nearby employment centers, the site benefits from a stable and diverse customer base. The Property provides efficient access to Monroe Avenue (NY Route 31) and Interstate 590, with Interstate 390 and Interstate 490 located nearby, allowing for direct connectivity throughout the Rochester metropolitan area and the broader Finger Lakes region.

FOR SALE DETAILS

PRICE

$2,320,000 USD

PRICE/SF

$657 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

M&T Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Hylan Dr.

LAND ACRES

1.48 AC

LAND SF

64,469 SF

ZONING

05

APN/PARCEL ID

263200 161.12-1-1.111

ASK ABOUT THIS PROPERTY

Matthew NadlerHorvath & TremblayMore Info
781-776-4006

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Matthew NadlerHorvath & TremblayMore Info
781-776-4006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.