3505 Amelia Dr, Orchard Park, NY 14127
- Community centers
- 6,375 SF
- 1.48 lot acres
Current Use by Public Records
- AT&T Store / Mobile Phone Store / Electronics & Wireless Store
- Cingular Wireless / Mobile Phone Store / Electronics & Wireless Store
Property Details for 3505 Amelia Dr
- Year built
- 2008
- Lot size
- 1.48 lot acres
- Zone code
- B2
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 146089 152.18-1-9.12
- APU
- 146089152181912
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 24, 2010 | $1,000 | Niagara Mohawk Power Corp | Milestrip Properties LLC | Grant Deed · related | — |
Description
This exceptional fee-simple retail property, located at 3505 Amelia Drive in Orchard Park, NY, presents a compelling investment opportunity. The 6,245 square foot building sits on a 1.48-acre lot and boasts a 100% occupancy rate with three established tenants: AT&T, Subway, and Yoga Six. Built in 2008, the property benefits from a strong tenant mix, providing diverse and stable income streams. Annual rent bumps are in place, as detailed in the rent schedule. The property enjoys excellent visibility on a major thoroughfare (Rt 179, Milestrip Rd), situated within a high-traffic retail corridor and affluent trade area. The current Net Operating Income (NOI) is $183,172, yielding an attractive 7.00% capitalization rate. Long-term tenant commitments are secured, including a recent seven-year renewal by AT&T. This property offers a compelling combination of strong cash flow, stable tenancy, and significant upside potential, making it an ideal addition to any investment portfolio. The asking price is $2,617,000. The property is offered as a gross lease with fee simple ownership. Operating expense collection is in place.
Value Estimations
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $865,000 Current use
- RETAIL STORES
- $925,000 Change: +7% Conversion: Easy
- COMMERCIAL (GENERAL)
- $885,000 Change: +3% Conversion: Easy
- RESTAURANT
- $870,000 Change: +1% Conversion: Difficult
- OFFICE BUILDING
- $745,000 Change: -14% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Orchard Park
- County
- Erie
- State
- New York
- Longitude
- -78.7811
- Latitude
- 42.7899
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
