9160 Main St, Clarence, NY 14031

This exceptional investment opportunity presents a 12,782 square foot Rite Aid pharmacy in Clarence, NY, boasting a 13-year absolute NNN lease (11.1 years remaining) commencing December 16, 2022, and expiring December 15, 2035. The property, built in 1993 and situated on a 2.57-acre lot, enjoys a prime location at the signalized intersection of Main Street (over 14,500 VPD) and Sheridan Drive (over 9,000 VPD), offering easy accessibility with multiple access points. The lease includes a corporate guarantee from Rite Aid, the third largest drugstore chain in the U.S., with over 2,245 locations. The property features a drive-thru and ample parking, catering to a high average household income exceeding $121,500 within a 3-mile radius. The asking price is $3,028,750, representing a 6.00% cap rate and a price per square foot of $236.95. The property generates a net operating income (NOI) of $181,725. Rent bumps of 5% are built into the lease in years 6 and 11, and in each of the nine, 5-year lease options. This location benefits from a successful 29+ year operating history and is conveniently located just 5 miles from the Buffalo Niagara International Airport. The property offers a secure, long-term investment with significant upside potential.