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    1200 Miracle Mile Dr Rochester, NY 14623

    Sponsored
    For Sale
    $10,000,000

    Sportsman's Warehouse, 55,000 SF, 8.25% Cap Rate

    Property size:
    55,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fee-simple retail property in Rochester, NY, offers a compelling investment opportunity. The 55,000 square-foot building, constructed in 2014, is 100% occupied by a corporate-guaranteed Sportsman's Warehouse under a gross lease. The lease, expiring January 2036, includes two 5-year renewal options with attractive 5% rent bumps every five years. The property boasts a strong 8.25% cap rate and a substantial net operating income (NOI) of $825,000. Situated on an 8.58-acre lot, it benefits from its location on a pad site adjacent to The Marketplace Mall, a major retail center undergoing redevelopment. The property enjoys excellent visibility and accessibility, less than a mile from Interstate 390, connecting to Interstates 90 and 590. The surrounding area features a dense concentration of retail establishments, including Walmart, Wegman's, and numerous other national brands, creating a robust consumer base. High traffic counts on nearby roads, coupled with strong demographics (over 41,600 people within a 3-mile radius, average household income exceeding $83,119), further enhance the property's investment potential. The asking price is $10,000,000.

    Property Features for 1200 Miracle Mile Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    55,000 SF
    Lot Size
    373,745 SF

    Building Details

    Year Built
    2014
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Long‑term lease with Sportsman's Warehouse, expiring January 2036, with two 5‑year renewal options.
    • Attractive 5% rent increases every five years throughout the lease term and first option period, with market rent at the start of the second option.
    • Corporate‑guaranteed lease with publicly traded Sportsman's Warehouse (NASDAQ: SPWH).
    • Excellent retail location on a pad site adjacent to The Marketplace Mall, less than a mile from I‑390, providing easy access to I‑90 and I‑590.
    • Strong retail trade area with nearby Walmart, Wegmans, and numerous national retailers.
    • High traffic counts exceeding 22,500 vehicles daily on nearby roads.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sportsman's Warehouse Outdoor Sports Store

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Hotel & Motel Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.635017098075
    Latitude
    43.081198800752

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    FAQs

    What type of property is this?
    Individual retail property - Sportsman's Warehouse, 55,000 SF, 8.25% Cap Rate
    Where is this individual retail property located?
    The property is located at 1200 Miracle Mile Dr Rochester, NY.
    What is the asking price?
    The asking price for this property is $10,000,000.
    What are key features of this property?
    This property features: Long-term lease with Sportsman's Warehouse, expiring January 2036, with two 5-year renewal options.; Attractive 5% rent increases every five years throughout the lease term and first option period, with market rent at the start of the second option.; Corporate-guaranteed lease with publicly traded Sportsman's Warehouse (NASDAQ: SPWH).
    Request Owner's contact information
    1200 Miracle Mile Dr Rochester, NY 14623
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    Rochester, NY 14623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1200 Miracle Mile Dr Rochester, NY 14623
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