1200 Miracle Mile Dr, Rochester, NY 14623-5853

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.