9160 Main St Clarence, NY 14031
Property profile & analytics
9160 Main St Clarence, NY 14031
- Retail space
- 12,423 SF
- 2.72 lot acres
Property ID
US63-2217083
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Rite Aid Pharmacy / Pharmacy
- Kevin M. Clary, RPh / Pharmacy
- Digiacomo Kevin / Pharmacy
- Nicholas M. Scalzo, PharmD / Pharmacy
- Rite Aid / Pharmacy
Property Details for 9160 Main St
- Year built
- 1994
- Lot size
- 2.72 lot acres
- Property size
- 12,423 SF
- Property type
- Retail space
- APN
- 143200 71.13-2-6
- APU
- 143200711326
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,705,000
- ML approach
- $2,705,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,860,000
- 6.5%
- $1,720,000
- 7%
- $1,595,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,703,000
Market price range: $878k - $2.70M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,805,000 Current use
- RESTAURANT
- $1,700,000 Change: -6% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,680,000 Change: -7% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Clarence
- County
- Erie
- State
- New York
- Longitude
- -78.6491
- Latitude
- 42.97
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$0.00
$570,000
$1,530,000
$2,100,000
-
$712,500
$1,912,500
$2,625,000
