Building Details

Building Size 6,806 SF

Year Built 2007

Listed By: Landon Reynolds · License #836007 (TX) Show Phone

Source: Matthews

Added: Jul 25 Changed: Oct 25 Last Checked: Oct 30 at 10:25AM

Report an Issue

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 Landon Reynolds

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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

Estimated NOI and Cap Rate

NOI / Yr

$87,981

Cap Rate

6.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,759,620 $1.8M

Cap Rate 7%

$1,256,871 $1.3M

Cap Rate 9%

$977,567 $977.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,806 SF

Gross rent

$129.0K $18.96/SF

− Vacancy

−$3.4K −$0.49/SF

EGI

$125.7K $18.47/SF

− OpEx

−$37.7K −$5.54/SF

NOI

$88.0K $12.93/SF

Area

Madison County, NY

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,759,620

Cap Rate 7%

$1,256,871

Cap Rate 9%

$977,567

Alternative Uses

Best Use

Retail

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $87,981 @ 7.0% cap · market cap 6.31%

Second Best

—

—

no second resolved use

Theoretical Best

Industrial

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $160,003 @ 7.0% cap · market cap 11.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Advance Auto Parts Rental Equipment Company UPS Access Point ... Courier Service

Suggested Use

Top Pick Parking Lot & Garage Dental Office Electrical Service Bakery (Bike/Boat/Book/etc) Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

235

Businesses Nearby

23k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 56% Shops & Services 44%

Burger King Dining

10,340 visits/mo 0.1 miles

Dollar General Shops & Services

6,121 visits/mo 0.2 miles

SUBWAY Dining

2,400 visits/mo 0.1 miles

Advance Auto Parts Shops & Services

1,521 visits/mo 0.1 miles

O'Reilly Auto Parts Shops & Services

1,318 visits/mo 0.2 miles

Demographics for 13037, NY

9,230

Population

3,987

Households

2.3

Avg Household Size

43

Median Age

34%

College-Educated

96%

High-School Grad

42.5 sq mi

ZIP Area

217

Density / Sq Mi

$79,191

Median Household Income

$50,679

Median Earnings

$826

Median Rent

$211,000

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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 $1,395,000.

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