305 Pennsylvania Ave Elmira, NY 14904-1456

This exceptional investment opportunity presents a 7,000 square foot, single-tenant retail property in Elmira, NY, occupied by a credit-rated Advance Auto Parts. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $91,000. The lease, classified as NN+, features a remaining term of 8.1 years with a lease expiration date of December 31, 2032. The tenant, a Fortune 500 company, has a long-standing operational history at this location, exceeding 20 years. The property includes 35 parking spaces and sits on a 1.07-acre lot. A new roof was installed in 2023, minimizing future maintenance responsibilities. The lease includes rent bumps of 4% in 2027 and 10% in an option period. This Class B building, constructed in 2002, benefits from its strategic location on Pennsylvania Ave, enjoying high visibility and traffic volume. The property's proximity to other major retailers further enhances its appeal. This is an ideal investment for those seeking a low-maintenance, high-return asset with a long-term, credit-worthy tenant. The property is offered for sale at $1,400,000.