2036 Chili Ave Rochester, NY 14624

This exceptional retail investment opportunity presents the Shoppes at Westgate, a 62,042 square foot shopping center in Rochester, NY. Anchored by a newly signed 10-year lease with Ross Dress for Less, this property boasts a diverse tenant mix including Citizens Bank, Bath & Body Works, Shoe Dept., Citi Trends, and Hibbett Sports. The property features six tenants, all national corporations with strong credit ratings and corporate guarantees, ensuring a stable income stream. With a 9.00% cap rate and a Net Operating Income (NOI) of $596,100, this is a compelling investment. The property sits on a 6.05-acre lot and benefits from a prime location on Chili Ave (25,000+ vehicles per day), a main intersection in the submarket. Its proximity to a heavily trafficked Walmart (over 2.1 million annual visits), Wegmans corporate headquarters, the University of Rochester, and the Greater Rochester International Airport provides exceptional visibility and access to a large consumer base. The property also enjoys convenient access to major interstates I-490 and I-390. Built in 1998, the property is well-maintained, with a roof replaced in 2018 and under warranty until 2038. The property is offered free and clear of existing financing, presenting a rare opportunity for immediate ownership. The current occupancy rate is 90.83%, and the asking price is $6,625,000 ($106.78 per square foot). This is a fee simple ownership opportunity with a strong track record and significant upside potential.