1200 Miracle Mile Dr Rochester, NY 14623
- Community centers
- 54,907 SF
- 8.58 lot acres
Current Use by Public Records
- Sportsman's Warehouse / Outdoor Sports Store / Ammunition Supplier
Property Details for 1200 Miracle Mile Dr
- Year built
- 2014
- Lot size
- 8.58 lot acres
- Property size
- 54,907 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Community centers
- APN
- 263200 161.12-1-1.1/E
- APU
- 26320016112111E
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Monroe
- State
- New York
- Longitude
- -77.6367
- Latitude
- 43.0809
- CBSA code
- 40380
- CBSA name
- ROCHESTER, NY METROPOLITAN STATISTICAL AREA
