431 Genesee St Chittenango, NY 13037
- Retail space
- 6,806 SF
- 0.72 lot acres
Current Use by Public Records
- Advance Auto Parts / Tool Rental Service / Car Accessories Store
- UPS Access Point location / Mailing Service / Shipping Service
Property Details for 431 Genesee St
- Year built
- 2007
- Lot size
- 0.72 lot acres
- Property size
- 6,806 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Retail space
- APN
- 254801 41.81-1-47
- APU
- 2548014181147
Description
This fee-simple investment opportunity presents a 6,549 square foot Advance Auto Parts store in Chittenango, NY. The property, built in 2007, sits on a 0.67-acre lot with 32 parking spaces and boasts a prominent location at the signalized intersection of US Hwy 5 and Genesee St, experiencing over 21,900 vehicles per day. The current lease, a Net Net (NN) agreement with limited landlord responsibilities, has approximately 3 years remaining with three 5-year options to extend, featuring 5% rental increases at the start of each option period. The property generates a Net Operating Income (NOI) of $123,516, resulting in an 8.25% capitalization rate. The asking price is $1,497,000 ($228.58/sq ft). The property is zoned commercial and benefits from strong tenant synergy with nearby national retailers including Walgreens, O'Reilly Auto Parts, and more, serving a 5-mile trade area with over 12,100 residents and an average household income of $121,874. This presents a low-management, high-return investment opportunity with a well-established tenant in a prime retail location. The property's APN is 254801 41.81-1-47.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,690,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,830,000
- 6.5%
- $1,695,000
- 7%
- $1,655,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,390,000
- Geo Method
- $1,605,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,860,000
- Retail
- $1,850,000
- Mixed-Use
- $2,015,000
- Hospitality
- $1,625,000
- Educational
- $1,595,000
- Residential Income
- $1,945,000
- Energy
- $1,770,000
- Income-Based Land
- $1,740,000
- Food Service
- $1,980,000
Location Insight
- Map
- Local Demand
- City
- Chittenango
- County
- Madison
- State
- New York
- Longitude
- -75.8664
- Latitude
- 43.0514
- CBSA code
- 45060
- CBSA name
- SYRACUSE, NY METROPOLITAN STATISTICAL AREA
