37 W Main St
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37 W Main St
8,490 SF 100% Leased Retail Building Fredonia, NY 14063 $665,000 ($78.33/SF) 12.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Multi-Tenant Retail & Medical Office building
EXECUTIVE SUMMARY
INVESTMENT PROPERTY A Multi-Tenant 2-Story Retail and Medical Office Building. Tenants include (GLPP) Great Lakes Physician Practice Administrative Offices, Apnea Care, and Landis Chiropractic. Approximately 7 paved parking spaces adjacent to the building. The lot is 72.6 x 110 approximately 19% of an acre. Located in the Business District of the Village of Fredonia. 3 tenants on the first floor and 2 on the second floor. Renovations and upgrades in 2007, 2012 and 2024 for tenant spaces. Home to State University of NY at Fredonia.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$104,838
|
$12.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$104,838
|
$12.35
|
| Taxes |
$14,082
|
$1.66
|
| Operating Expenses |
$10,278
|
$1.21
|
| Total Expenses |
$24,360
|
$2.87
|
| Net Operating Income |
$80,478
|
$9.48
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $104,838 |
| Annual Per SF | $12.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $104,838 |
| Annual Per SF | $12.35 |
| Taxes | |
|---|---|
| Annual | $14,082 |
| Annual Per SF | $1.66 |
| Operating Expenses | |
|---|---|
| Annual | $10,278 |
| Annual Per SF | $1.21 |
| Total Expenses | |
|---|---|
| Annual | $24,360 |
| Annual Per SF | $2.87 |
| Net Operating Income | |
|---|---|
| Annual | $80,478 |
| Annual Per SF | $9.48 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,490 SF
Building Class
C
Year Built/Renovated
1910/1998
Price
$665,000
Price Per SF
$78.33
Cap Rate
12.10%
NOI
$80,478
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.08
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
B-2 - General Business District
Parking
7 Spaces (0.82 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Air Conditioning
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 065801-113-014-0004-013-000 | Total Assessment | $62,700 (2023) |
| Land Assessment | $13,940 (2023) | Annual Taxes | $14,082 ($1.66/SF) |
| Improvements Assessment | $48,760 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
065801-113-014-0004-013-000
Land Assessment
$13,940 (2023)
Improvements Assessment
$48,760 (2023)
Total Assessment
$62,700 (2023)
Annual Taxes
$14,082 ($1.66/SF)
Tax Year
2024
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