The Niagara & Ontario Plaza
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The Niagara & Ontario Plaza
2 Retail Properties Offered at $2,700,000 in Buffalo, NY
Executive Summary
Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale, The Niagara & Ontario Plaza at 2207-2235 Niagara Street, Buffalo, NY 14207. Built in 1986, the property is 3 retail buildings built on a 3.05± AC lot with 8 retail units ( 70.1% occupancy) with 39,336± retail NRA (SF).
VISIT THE DEAL ROOM
https://platform.reverecre.com/project/5e61351f-8843-436f-84ca-cabebd181e16/dashboard
INVESTMENT HIGHLIGHTS
In-Demand Location
Easy access to NYS 190 (63,628 AADT ) and the Scajaquada Expressway (Rt 198) (28,813 AADT ) and Traffic Signal access at Niagara and Ontario Streets.
9.5%± Stabilized Cap Rate
Significant upside potential through leasing the remaining vacant units. New ownership can stabilize the property and achieve a 9.5%± cap rate by securing tenants for the available spaces.
Robust Market Metrics
Strong market occupancy of 95.1% provides a clear path for new ownership to achieve stabilized occupancy.
Strong Credit Tenants
The property benefits from two credit tenants occupying 56.1% of the building and a Tim Horton’s ground lease.
VISIT THE DEAL ROOM
https://platform.reverecre.com/project/5e61351f-8843-436f-84ca-cabebd181e16/dashboard
INVESTMENT HIGHLIGHTS
In-Demand Location
Easy access to NYS 190 (63,628 AADT ) and the Scajaquada Expressway (Rt 198) (28,813 AADT ) and Traffic Signal access at Niagara and Ontario Streets.
9.5%± Stabilized Cap Rate
Significant upside potential through leasing the remaining vacant units. New ownership can stabilize the property and achieve a 9.5%± cap rate by securing tenants for the available spaces.
Robust Market Metrics
Strong market occupancy of 95.1% provides a clear path for new ownership to achieve stabilized occupancy.
Strong Credit Tenants
The property benefits from two credit tenants occupying 56.1% of the building and a Tim Horton’s ground lease.
Property Facts
| Price | $2,700,000 | Number of Properties | 2 |
| Price / SF | $79.07 / SF | Individually For Sale | 0 |
| Cap Rate | 5.91% | Total Building Size | 34,149 SF |
| Sale Type | Investment | Total Land Area | 6.10 AC |
| Status | Under Contract |
| Price | $2,700,000 |
| Price / SF | $79.07 / SF |
| Cap Rate | 5.91% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 34,149 SF |
| Total Land Area | 6.10 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Niagara & Ontario Plaza
2235 Niagara St, Buffalo, NY 14207 |
Retail | 1,462 SF | 1985 | - |
|
Niagara & Ontario Plaza
2207-2211 Niagara St, Buffalo, NY 14207 |
Retail | 32,687 SF | 1986 | - |
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