Single-Tenant Rent-A-Center
For Sale
Contact for pricing
85 Genesee Street, Auburn, NY 13021
Long-term Rent-A-Center storefront under a passive NNN lease with corporate-backed tenancy.
Property Size5,000 SF
Price / SF$125.33
Days on Market54
Property Features for 85 Genesee Street
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Retail
Zoning
D - Downtown
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$47,000
Building Details
Year Built
1977
Year Renovated
2000
Units
1
Tenancy
Single
Listing Agency:
Blue West Capital
(949) 270-8210
Listed By:
Brian Wolfman · License #100090116
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 11:22AM
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 Blue West Capital
Investment Insights
Based on property information with market context.
Blue West Capital presents the opportunity to acquire a single-tenant NNN-leased Rent-A-Center located at 85-89 Genesee Street in Downtown Auburn, New York. The property is leased to Rent-A-Center East, Inc., a corporate subsidiary of Upbound Group, Inc. (NASDAQ: UPBD), under a passive NNN lease structure. Rent-A-Center has occupied the location continuously since 1994, reflecting more than 32 years of uninterrupted tenancy.
The site is centrally positioned on Genesee Street, identified in the remarks as the city’s primary commercial corridor. The property benefits from consistent foot traffic generated by Memorial City Hall, Auburn City Court, and Auburn Community Hospital. The location is described as steps from Wegmans and near Auburn Plaza, Fingerlakes Crossing, and Fingerlakes Mall, each cited with annual visit figures in the offering materials.
For buyers seeking a stabilized, single-tenant retail investment, this asset combines a long-standing operating history at the location with corporate-backed tenancy under a passive NNN framework. The offering also notes that landlord responsibilities are limited under the lease structure, which can be a practical fit for investors looking to reduce operational involvement while maintaining exposure to a national retail brand.
The site is centrally positioned on Genesee Street, identified in the remarks as the city’s primary commercial corridor. The property benefits from consistent foot traffic generated by Memorial City Hall, Auburn City Court, and Auburn Community Hospital. The location is described as steps from Wegmans and near Auburn Plaza, Fingerlakes Crossing, and Fingerlakes Mall, each cited with annual visit figures in the offering materials.
For buyers seeking a stabilized, single-tenant retail investment, this asset combines a long-standing operating history at the location with corporate-backed tenancy under a passive NNN framework. The offering also notes that landlord responsibilities are limited under the lease structure, which can be a practical fit for investors looking to reduce operational involvement while maintaining exposure to a national retail brand.
Key Highlights
- Single‑tenant NNN‑leased Rent‑A‑Center on Genesee St in Downtown Auburn, NY
- Built in 1977
- Leased to Rent‑A‑Center East, Inc., a corporate subsidiary of Upbound Group, Inc. (NASDAQ: UPBD)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,295
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,005,900
$1.0M
Cap Rate 7%
$718,500
$718.5K
Cap Rate 9%
$558,833
$558.8K
Market Conditions
NOI Build-Up for 5,000 SF
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.
Gross rent
$75.0K $15.00/SF
− Vacancy
−$3.2K −$0.63/SF
EGI
$71.9K $14.37/SF
− OpEx
−$21.6K −$4.31/SF
NOI
$50.3K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,005,900
Cap Rate 7%
$718,500
Cap Rate 9%
$558,833
Alternative Uses
Best Use
Retail
$718.5K
$628.7K – $838.3K
NOI $50,295 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$969.6K – $1.29M
NOI $77,568 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,324
Businesses Nearby
123k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Shops & Services 35%
Dining 19%
Wegmans
Groceries
57,023 visits/mo
0.4 miles
Byrne Dairy
Shops & Services
21,305 visits/mo
0.2 miles
Speedway
Shops & Services
16,444 visits/mo
0.5 miles
Dunkin' Donuts
Dining
7,196 visits/mo
0.3 miles
Little Caesars Pizza
Dining
5,131 visits/mo
0.5 miles
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Long-term Rent-A-Center storefront under a passive NNN lease with corporate-backed tenancy.
Where is this storefront property located?
The property is located at 85 Genesee Street Auburn, NY.
What is the asking price?
The asking price for this property is $626,667.
What are key features of this property?
This property features: Single‑tenant NNN‑leased Rent‑A‑Center on Genesee St in Downtown Auburn, NY; Built in 1977; Leased to Rent‑A‑Center East, Inc., a corporate subsidiary of Upbound Group, Inc. (NASDAQ: UPBD)
