NNN Leased Retail
431 Genesee St Chittenango, NY 13037
For Sale
Contact for pricing
Fee-simple sale of an NN leased retail property occupied by Advance Auto Parts.
Property Size7,044 SF
Price / SF$212.52
Days on Market535
Property Features for 431 Genesee St
General Information
Standard status
Active
Size
7,044 SF
Property subtype
RETAIL
Listing Agency:
SRS Industrial - Newport Beach
(949) 698-1116
Listed By:
Matthew Mousavi · License #CA 01732226
(949) 698-1116
Source:
Moodyscre
Added: Feb 10, 2025
Changed: Jul 26
Last Checked: Jul 29 at 2:30PM
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 SRS Industrial - Newport Beach
Investment Insights
Based on property information with market context.
SRS National Net Lease presents the fee-simple opportunity to acquire an NN leased Advance Auto Parts investment property. The property is occupied by Advance Stores Company, Inc., with approximately three years remaining on the current term and three (5-year) extension options. The lease includes 5% rental increases at the beginning of each option period.
This is a net lease structure with limited landlord responsibilities.
The offering is for the land and building ownership of the retail site.
This is a net lease structure with limited landlord responsibilities.
The offering is for the land and building ownership of the retail site.
Key Highlights
- Fee‑simple (land and building) sale of an NN leased Advance Auto Parts retail property
- Tenant: Advance Stores Company, Inc.; approximately 3 years remaining on the current term
- Includes 3 (5‑year) extension options to extend the lease term
Financial Insights For 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 | $133.6k | $18.96 |
| − Vacancy | −$3.5k | −$0.49 |
| EGI | $130.1k | $18.47 |
| − OpEx | −$39.0k | −$5.54 |
| NOI | $91.1k | $12.93 |
7,044 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.30M
$1.14M – $1.52M
NOI $91,057 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.37M
$2.07M – $2.76M
NOI $165,598 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Fee-simple sale of an NN leased retail property occupied by Advance Auto Parts.
Where is this retail space located?
The property is located at 431 Genesee St Chittenango, NY.
What is the asking price?
The asking price for this property is $1,497,000.
What are key features of this property?
This property features: Fee‑simple (land and building) sale of an NN leased Advance Auto Parts retail property; Tenant: Advance Stores Company, Inc.; approximately 3 years remaining on the current term; Includes 3 (5‑year) extension options to extend the lease term
