4140 Veterans Memorial Dr Batavia, NY 14020

Property Details for 4140 Veterans Memorial Dr

Year built

2009

Lot size

3.80 lot acres

Property size

35,280 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

182400 8.-1-17.121

APU

1824008117121

Description

This 35,413 square foot, multi-tenant shopping center in Batavia, NY, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong 8.25% cap rate, the property generates a substantial NOI of $393,894. Nine tenants, including Planet Fitness, occupy this 2007-built center, situated on a 3.8-acre lot with ample parking. The center benefits from a Walmart shadow anchor, driving significant traffic (approximately two million annual visitors, source: Placer Labs Inc.), and enjoys a prime location on Veterans Memorial Drive, near major intersections and other national retailers. The tenant mix includes a blend of national and local businesses, many of which are internet-resistant. The property is priced at $134.82 per square foot, below replacement cost. The surrounding area demonstrates strong demographics, with average household incomes exceeding $70,000 within a three-mile radius. Its proximity to Batavia Downs Gaming & Hotel further enhances its appeal. This well-positioned, high-performing retail center offers a stable and lucrative investment prospect. The property features 87% NNN leases, minimizing landlord responsibilities. The strong tenant base, coupled with the strategic location and high traffic counts (approximately 8,763 vehicles per day), ensures a consistent income stream. This is an exceptional opportunity to acquire a well-established, high-performing retail asset in a thriving market.