Rochester, NY - Speedway

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the Leased fee interest (land ownership) in an absolute NNN leased, Speedway investment property located in Rochester, New York. The tenant, Speedway has over 4+ years of term remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Speedway is located along Lake Avenue (28,400 VPD) with convenient access to State Highway 104 (75,100 VPD) and Interstate 490 (106,900 VPD), positioning the property within a heavily trafficked infill corridor in Rochester, New York. Lake Avenue is a primary north-south thoroughfare serving the area and providing strong connectivity throughout the Rochester MSA. The subject property is surrounded by a dense mix of national and regional retailers including Aldi, Walgreens, Walmart, Target, The Home Depot, Harbor Freight, Family Dollar, Tops, Wegmans, Aaron’s, USPS, and Mobil, among many others, helping drive consistent consumer traffic to the site. In addition, the property is located near several major demand drivers including Rochester General Hospital (528 beds), one of the area’s largest healthcare facilities, as well as Monroe Community College (23,555 students), University of Rochester (over 11,000 students), The Aquinas Institute (775 students), and East High School (887 students). The surrounding 5-mile trade area is supported by approximately 327,502 residents with an average household income of $79,320.

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Listing ID: a28TP000002Zj2jYAC