3760 Union Rd - Freestanding FOR SALE


Cheektowaga, NY 14225
$2,145,000 USD
440-915-7902
3760 Union Rd, Cheektowaga, NY for Sale
$2,145,000 USD
Freestanding - FOR SALE
1/9
null | 8% Cap Rate

3760 Union Rd
Cheektowaga, NY 14225


HIGHLIGHTS

  • Ideal, Low Management Asset for Passive Investor: NNN Structure with Tenant Handling All On-Site Maintenance Directly
  • Prominent, High Traffic Directly In Front Buffalo’s Premier Shopping Destination, Walden Galleria: 1.6 Million S.F. of Premium Retailers/Rest. & Ent
  • Highly Attractive 8.00% CAP Rate at Low Price Point & Annual 2.5% Rental Increases Through Current Term and Renewals, Generating NOI Growth
  • Pharmacann, Inc.: Founded in 2014, One of the Country’s Largest Vertically Integrated Cannabis Companies with 56+ Locations in 6 States
  • 2024 Renovation: Tenant Completed $2 Million Modern Interior Remodel/Buildout | Landlord had Parking Lot Reseal/Stripe & New Roof (20 Year Warranty)
  • Strong Demographics: Buffalo’s 2nd Largest Suburb: Average Household Incomes of Approx. $88,000 & High Population Density, 295k+ Residents in 5 Mile

OVERVIEW

• Ideal, Zero Management Asset for Passive Investor: Absolute NNN Lease with Investment Grade Credit Bank of America (NYSE: BAC/S&P A-/Moody’s A1) • High Reported Deposit, Established Location with 8.75 Yrs. of Term Remaining: Strong Operator with BOA Through Mergers Has Been In Place With Multiple Renewals Since 1972 • Low Price Point, No Management Responsibilities: Tenant Handles ALL Expenses Directly • Early Lease Extension with Rental Increase and Extensions, Proving Commitment and Success to the Location • Bank of America: One of the World’s Leading Financial Institutions with Unmatched Convenience in the United States, Serving Approx. 69 Million Consumer and Small Business Clients with Approx. 3,700 Retail Financial Centers • Just Completed, Complete Tenant Self-Funded ($750,000) Complete Modern Interior Renovation and Design, Further Strengthening the Commitment to the Location • Strong Demographics in Buffalo’s 2nd Largest Suburb: Average Household Incomes Over $91,700 and High Population Density of 258,865+ Residents Within 5-Miles • Prominent, High Traffic (Approx. 40k Vehicles Per Day), Corner Location Directly Across From Wegman’s Grocery • Direct Route to Downtown Buffalo (10 Miles) from Eastern Suburbs: Corner Location at Dick Road and George Urban Blvd. with High Visibility Pylon Signage, Double Lane Drive-Thru and Easy Access to Route-33 and I-90 • 1.5 Miles to Buffalo’s Premier Shopping Destination, Walden Galleria: 1,600,000 S.F. of Premium Retailers/Restaurants and Entertainment: Lego Store, Dave & Busters, Regal 4DX Cinemas, Apple, lululemon, Urban Outfitters and Hundreds More • Immediate Vicinity of Buffalo-Niagara International Airport (2 Miles) and 7.5 Miles to The University of Buffalo with 31,500 Students and Over 3,000 Employees • Cheektowaga is Home to SUNY Empire State College (10,425 Students and Over 1,300 Academic Staff) and Villa Maria College (550 Students and Approximately 250 Academic Staff) • Heavy Concentration of Major Employers Positioned 10 Miles to Downtown Buffalo & 25 Miles to Niagara Falls: Kaleida Health (8,194 Employees), Catholic Health System (7,368 Employees), M&T Bank Corporate (7,013 Employees), Roswell Park Institute (3,239 Employees), Geico Insurance (3,200 Employees) and One of the Top Attractions for Tourism, the Seneca Niagara Casino & Hotel (25 Miles), Employing Over 3,000

FOR SALE DETAILS

PRICE

$2,145,000 USD

PRICE/SF

$577 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8% CAP NNN| NO Daily Mgmt | High Traffic/Demo

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

CROSS STREETS

Galleria Dr.

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

05C

APN/PARCEL ID

143089-102-020-0001-009-131

ASK ABOUT THIS PROPERTY

Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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Dan CooperCooper Commercial Investment GroupMore Info
440-915-7902

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