Rite Aid NNN
2401 Genesee St Buffalo, NY
For Sale
Contact for pricing
NNN leased Rite Aid in Cheektowaga, New York.
Property Size11,421 SF
Lot Size1.30 Acres
Price / SF$144.47
Days on Market466
Property Features for 2401 Genesee St
General Information
Standard status
Active
Size
11,421 SF
Lot size
1.30 Acres
Property subtype
RETAIL
Listing Agency:
NNN Pro Group
(332) 345-4261
Listed By:
Cade Kearn · License #49KU1129178
Source:
Moodyscre
Added: Apr 21, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NNN Pro Group
Investment Insights
Based on property information with market context.
The property at 2401 Genesee Street, Cheektowaga, New York, is a retail property occupied by Rite Aid. The building has approximately 11,421 rentable square feet of space and is situated on an estimated 1.25-acre parcel of land. The property is subject to a 28-year Triple Net (NNN) lease, which commenced in August 1999. The current annual rent is $247,667, with scheduled rent increases in the option periods.
Key Highlights
- Tenant is Rite Aid
- 28‑year Triple Net (NNN) lease commenced 8/20/1999
- Located at 2401 Genesee Street, Cheektowaga, New York 14225
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $191.9k | $16.80 |
| − Vacancy | −$17.3k | −$1.51 |
| EGI | $174.6k | $15.29 |
| − OpEx | −$43.7k | −$3.82 |
| NOI | $131.0k | $11.47 |
11,421 SF · lease $16.80/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,953 @ 7.0% cap · market cap 7.94%
Second Best
Retail
$1.59M
$1.39M – $1.85M
NOI $111,248 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,257 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Rite Aid Pharmacy — 2401 Genesee St, Cheektowaga, NY 14225
- Lisanne Holley, Pharm — 2752 Harlem Rd, Cheektowaga, NY 14225
- Dr. Claudia D. Fosket, MD — 2605 Harlem Rd, Buffalo, NY 14225
- Matthew Mesi — 2401 Genesee St, Cheektowaga, NY 142252805
- Bonsai Beauty — 120 Alexander Ave, Buffalo, NY 14211
Frequently Asked Questions
What type of property is this?
Drug store - NNN leased Rite Aid in Cheektowaga, New York.
Where is this drug store located?
The property is located at 2401 Genesee St Buffalo, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Tenant is Rite Aid; 28‑year Triple Net (NNN) lease commenced 8/20/1999; Located at 2401 Genesee Street, Cheektowaga, New York 14225
