Retail Space For
For Sale
$1,330,144
9151 Alleghany Rd, Corfu, NY 14036
Retail space offered for sale as an investment opportunity.
Property Size9,026 SF
Price / SF$147.37
Days on Market50
Property Features for 9151 Alleghany Rd
General Information
Standard status
Active
Size
9,026 SF
Property subtype
Discount
Lease Type
Absolute Net
Financials
Asking Price
$1,330,144
Cap Rate
7.65%
Amenities
Absolute NNN Lease with 5+ Years Remaining on the Current Lease Term
Store is Less Than Two Miles from a Newly Built 201,000 Square Foot Amazon Distribution Center (2025 Construction)
Located Minutes from Six Flags Darien Lake, a 1,200-Acre Resort and Theme Park in Corfu
Proximity to the Pembroke School District as well as the Main Drag Through Town
Site is Four Minutes from a Significant Interstate 90 Exit, Which Serves as a Major Gateway Heading to and from the Buffalo/Niagara Falls Region
Store Sells Beer and Has Expanded Cooler Space Making it a Destination Spot in the Immediate Area
Competition Void: Only Dollar General Servicing the NY State Route 77 Corridor Between Corfu and Pembroke
Corfu is Positioned Directly Between Buffalo and Rochester, Two of the Top Four Most Populous Cities in New York
Building Details
Building Size
9,026 SF
Listed By:
Cole Skinner · License #License(s): FL: SL3407088
(813) 387-4773
Source:
Marcusmillichap
Added: Jul 29
Changed: Sep 15
Last Checked: Sep 15 at 4:20AM
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 Cole Skinner
Investment Insights
Based on property information with market context.
This retail space is being offered for sale as an investment. The property totals 9,026 SF and the offering is described with a 7.65% cap rate.
The property is located at 9151 Alleghany Rd in Corfu, NY 14036.
The property is located at 9151 Alleghany Rd in Corfu, NY 14036.
Key Highlights
- 9,026 SF retail space
- 7.65% cap rate (as stated in offering remarks)
- 9151 Alleghany Rd, Corfu, NY 14036
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
$90,793
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
6.83%
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%
$1,815,860
$1.8M
Cap Rate 7%
$1,297,043
$1.3M
Cap Rate 9%
$1,008,811
$1.0M
Market Conditions
NOI Build-Up for 9,026 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
$135.4K $15.00/SF
− Vacancy
−$5.7K −$0.63/SF
EGI
$129.7K $14.37/SF
− OpEx
−$38.9K −$4.31/SF
NOI
$90.8K $10.06/SF
Area
Genesee 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%
$1,815,860
Cap Rate 7%
$1,297,043
Cap Rate 9%
$1,008,811
Alternative Uses
Best Use
Retail
$1.30M
$1.13M – $1.51M
NOI $90,793 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.38M
$7.33M – $9.77M
NOI $586,455 @ 7.0% cap · market cap 44.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,771 visits/mo
0.2 miles
Demographics for 14036, NY
4,931
Population
2,521
Households
2
Avg Household Size
46
Median Age
19%
College-Educated
95%
High-School Grad
53.6 sq mi
ZIP Area
92
Density / Sq Mi
$91,806
Median Household Income
$46,506
Median Earnings
$923
Median Rent
$184,400
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?
Retail space - Retail space offered for sale as an investment opportunity.
Where is this retail space located?
The property is located at 9151 Alleghany Rd Corfu, NY.
What is the asking price?
The asking price for this property is $1,330,144.
What are key features of this property?
This property features: 9,026 SF retail space; 7.65% cap rate (as stated in offering remarks); 9151 Alleghany Rd, Corfu, NY 14036
