130 Washburn St Lockport, NY 14094
- Retail properties
- 40,000 SF
- 1.50 lot acres
Current Use by Public Records
- Rite Aid / Drug Store / Beauty Supply Store
- higi / Health Consultant
- Western Union / Money Transfer Service
- Glenn Richards / Pharmacy
- Amazon Hub Counter - Rite Aid #1537 / Mailing Service / E-Commerce Service
Property Details for 130 Washburn St
- Lot size
- 1.50 lot acres
- Property size
- 40,000 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional value-add investment opportunity presents a multi-tenant commercial property located at 130 Washburn St, Lockport, NY 14094. The property, known as Rite Aid Plaza, comprises two buildings totaling 40,000 square feet on a 1.5-acre lot. The buildings are two stories and feature a mix of retail and office spaces, currently housing nine units with five tenants, including a Rite Aid. The net rentable area is 25,800 square feet, with a current occupancy rate of 75%. The property operates under a NNN lease structure, offering a strong cash flow. The current Net Operating Income (NOI) stands at $165,720, yielding an attractive 9.50% capitalization rate. The property's diverse tenant mix provides stability and potential for future growth. The current lease agreements have an occupancy date of November 20, 2024. This presents a compelling opportunity for investors seeking a strong return on investment in a well-located, multi-tenant property in Niagara County, New York. The asking price is $1,744,421. This property is ideal for investors seeking a value-add opportunity with significant upside potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lockport
- County
- Niagara
- State
- New York
- Longitude
- -78.6867
- Latitude
- 43.1709
