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431 Genesee St Chittenango, NY 13037

Sponsored
For Sale
$1,497,000

High-yield auto parts store, strong tenant.

Property size:
6,549 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This fee-simple investment opportunity presents a 6,549 square foot Advance Auto Parts store in Chittenango, NY. The property, built in 2007, sits on a 0.67-acre lot with 32 parking spaces and boasts a prominent location at the signalized intersection of US Hwy 5 and Genesee St, experiencing over 21,900 vehicles per day. The current lease, a Net Net (NN) agreement with limited landlord responsibilities, has approximately 3 years remaining with three 5-year options to extend, featuring 5% rental increases at the start of each option period. The property generates a Net Operating Income (NOI) of $123,516, resulting in an 8.25% capitalization rate. The asking price is $1,497,000 ($228.58/sq ft). The property is zoned commercial and benefits from strong tenant synergy with nearby national retailers including Walgreens, O'Reilly Auto Parts, and more, serving a 5-mile trade area with over 12,100 residents and an average household income of $121,874. This presents a low-management, high-return investment opportunity with a well-established tenant in a prime retail location. The property's APN is 254801 41.81-1-47.

Property Features for 431 Genesee St

General Information

Property type
Automotive properties
Square Feet
6,549 SF
Lot Size
29,185 SF

Building Details

Year Built
2007

HighLights

  • 3+ years remaining lease with options to extend; strong national tenant.
  • Net‑Net lease; fee simple ownership; limited landlord responsibilities.
  • High‑traffic corner location (21,900 VPD); excellent visibility; substantial street frontage.
  • Strong demographics within a 5‑mile radius.
Property Profile Location Intelligence

Current Use by Public Records

Advance Auto Parts Tool Rental Service UPS Access Point ... Shipping And Mailing Service

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Chittenango
County
Madison
State
New York
Longitude
-75.8665253
Latitude
43.051323

FAQs

What type of property is this?
Automotive property - High-yield auto parts store, strong tenant.
Where is this automotive property 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: 3+ years remaining lease with options to extend; strong national tenant.; Net-Net lease; fee simple ownership; limited landlord responsibilities.; High-traffic corner location (21,900 VPD); excellent visibility; substantial street frontage.
More about this property
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