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10151-10155 Main St
13,300 SF 100% Leased Flex Building Clarence, NY 14031 $1,395,000 ($105/SF) 7.75% Cap Rate
Investment Highlights
- Two-building mixed-use property located on a single parcel, offering exceptional Main Street visibility to over 13,000 passing vehicles daily.
- Benefit from a tenant roster that includes a swimming pool contractor, an insulation company and a dance studio that all wish to continue their leases
- Featuring a mix of office, flex, and warehouse space with a vacant, fully carpeted office suite that can be leased by an owner/user occupant.
- Situated in desirable Clarence, near retailers and restaurants, proximity to residential neighborhoods, and within a 30-minute drive to Buffalo.
Executive Summary
The property was renovated in 2017 and features office, warehouse, and flex space. A Dance Studio and a Swimming Pool Contractor lend to a diverse and stable tenant mix. The land permits the construction of a new 10,000 to 15,000-square-foot warehouse and the addition of 25 parking spaces. This is an ideal opportunity for investor occupiers seeking new warehouse construction while securing existing cash flow from tenant leases.
Clarence, New York, is an affluent locale with a dense residential population and many area amenities. 10151-10155 Main Street offers exceptional visibility to over 13,000 passing vehicles daily and is located near Town Place Park and the Rock Oak Estate residential neighborhood. Surrounding businesses include Hector’s Hardware, Gianni Mazia’s on Main, and The Lion and Eagle Pub. From 10151-10155 Main Street, reach the heart of Buffalo within a 30-minute drive via Route 33.
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$143,340
|
$10.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,167
|
$0.54
|
| Effective Gross Income |
$136,173
|
$10.24
|
| Taxes |
$10,382
|
$0.78
|
| Operating Expenses |
$16,794
|
$1.26
|
| Total Expenses |
$27,176
|
$2.04
|
| Net Operating Income |
$108,997
|
$8.20
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $143,340 |
| Annual Per SF | $10.78 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,167 |
| Annual Per SF | $0.54 |
| Effective Gross Income | |
|---|---|
| Annual | $136,173 |
| Annual Per SF | $10.24 |
| Taxes | |
|---|---|
| Annual | $10,382 |
| Annual Per SF | $0.78 |
| Operating Expenses | |
|---|---|
| Annual | $16,794 |
| Annual Per SF | $1.26 |
| Total Expenses | |
|---|---|
| Annual | $27,176 |
| Annual Per SF | $2.04 |
| Net Operating Income | |
|---|---|
| Annual | $108,997 |
| Annual Per SF | $8.20 |
Property Facts
| Price | $1,395,000 | Building Class | B |
| Price Per SF | $105 | Lot Size | 2.15 AC |
| Sale Type | Investment | Rentable Building Area | 13,300 SF |
| Cap Rate | 7.75% | No. Stories | 2 |
| Property Type | Flex | Year Built/Renovated | 1960/2017 |
| Property Subtype | Light Distribution | Parking Ratio | 1.73/1,000 SF |
| Price | $1,395,000 |
| Price Per SF | $105 |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | B |
| Lot Size | 2.15 AC |
| Rentable Building Area | 13,300 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2017 |
| Parking Ratio | 1.73/1,000 SF |
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Educational Services
- 3,800 SF
- -
- Modified Gross
- Jul 2027
David De Marie himself started DDD in Clarence Hollow in a small studio in 1968. It has since grown to be one of the most respected and well known dance schools in the area. When David passed in 1988, his partner, Leonard Castilone continued and expanded the traditions of DDD for 30 years. In 2018, upon Leonard's retirement, his niece Ashleigh was proudly given the opportunity to pursue the studio and carry on its admirable reputation in WNY. As they celebrate their continued success at David De Marie Dance, they proudly carry on David's legacy and pristine quality of dance education. Behind them are all of the wonderful memories...before them... they are steadfast in fulfilling his dreams for David De Marie Dance
-
- Services
- 4,000 SF
- -
- -
- Oct 2024
Operating for over 50 years, Glamour Pools is the authority on custom gunite pools for residential use. In addition to constructing a custom pool from scratch, Glamour Pools can also give customers existing pool an updated look. Glamour Pools can remodel existing, older pool with new tile, sidewalks, and colored plaster finishes.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Educational Services | 3,800 SF | - | Modified Gross | Jul 2027 | |
|
|
Services | 4,000 SF | - | - | Oct 2024 |
PROPERTY TAXES
| Parcel Number | 143200-072-010-0003-001-100 | Total Assessment | $500,000 |
| Land Assessment | $195,000 | Annual Taxes | $10,382 ($0.78/SF) |
| Improvements Assessment | $305,000 | Tax Year | 2023 |
PROPERTY TAXES
zoning
| Zoning Code | Comm (Commercial/Business Retail) |
| Comm (Commercial/Business Retail) |
Presented by
10151-10155 Main St
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