2136 George Urban Blvd Depew, NY 14043-1848
- Auto shops
- 6,677 SF
- 1.22 lot acres
Current Use by Public Records
- Bridgestone / (Bike/Boat/Book/etc) Store / Auto Parts Store
- Firestone Complete Auto Care / (Bike/Boat/Book/etc) Store / Auto Parts Store
Property Details for 2136 George Urban Blvd
- Year built
- 1989
- Lot size
- 1.22 lot acres
- Property size
- 6,677 SF
- Zone code
- 05C
- Property type
- Auto shops
- APN
- 143003 92.18-17-23.122
- APU
- 14300392181723122
Description
This exceptional investment opportunity presents a 6,595 square foot Firestone Complete Auto Care, a single-tenant, net-leased property located at 2136 George Urban Blvd in Depew, New York. The property sits on 1.21 acres and boasts a strong 36+ year operating history with the current franchisee. Built in 1987 and renovated in 2017, including a new roof in 2019 with a 10-year transferable warranty, the building is well-maintained and situated in a high-traffic area with excellent visibility. The lease, a double net lease with minimal landlord responsibilities, has a remaining term of 4.9 years with two 5-year options, each including a 7.8% rent bump. The current asking price is $1,895,842, representing a 6.00% cap rate and a price per square foot of $287.47. The property generates a net operating income (NOI) of $113,750. This prime location is less than 3 miles from Buffalo Niagara International Airport and 2 miles from the Galleria Mall, benefiting from a dense trade area with over 70,375 people within a 3-mile radius and an average household income exceeding $84,722. The property is conveniently located along George Urban Blvd (14,659 vehicles per day) and Dick Rd (27,412 vehicles per day), with close proximity to I-90 and is an outparcel to Urbandale Plaza, a 257,000 square foot retail center anchored by Wegmans. The tenant, a Firestone franchisee, enjoys an "A" S&P credit rating, providing a strong corporate guarantee and demonstrating a long-term commitment to the location, having recently exercised a 5-year option. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable location.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,084,000
- AI Estimate
- $888,000
Market price range: $339k - $1.10MMarket price range: $377k - $889k -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $670,000 Current use
- RETAIL STORES
- $970,000 Change: +44% Conversion: Difficult
- RESTAURANT
- $910,000 Change: +36% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $905,000 Change: +35% Conversion: Difficult
- OFFICE BUILDING
- $780,000 Change: +16% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Depew
- County
- Erie
- State
- New York
- Longitude
- -78.7333
- Latitude
- 42.9192
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
