Your email has been sent.
10151-10155 Main St 13,300 SF 100% Leased Flex Building Clarence, NY 14031 $1,935,423 CAD ($145.52 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$198,870
|
$14.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,943
|
$0.75
|
| Effective Gross Income |
$188,926
|
$14.20
|
| Taxes |
$14,404
|
$1.08
|
| Operating Expenses |
$23,300
|
$1.75
|
| Total Expenses |
$37,704
|
$2.83
|
| Net Operating Income |
$151,222
|
$11.37
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $198,870 |
| Annual Per SF | $14.95 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,943 |
| Annual Per SF | $0.75 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $188,926 |
| Annual Per SF | $14.20 |
| Taxes (CAD) | |
|---|---|
| Annual | $14,404 |
| Annual Per SF | $1.08 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $23,300 |
| Annual Per SF | $1.75 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $37,704 |
| Annual Per SF | $2.83 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $151,222 |
| Annual Per SF | $11.37 |
PROPERTY FACTS
| Price | $1,935,423 CAD | Building Class | B |
| Price Per SF | $145.52 CAD | 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 |
| Zoning | Comm - Commercial/Business Retail | ||
| Price | $1,935,423 CAD |
| Price Per SF | $145.52 CAD |
| 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 |
| Zoning | Comm - Commercial/Business Retail |
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Educational Services
- 3,800 SF
- -
- Modified Gross
- Jul 2027
David De Marie lui-même fonde DDD dans Clarence Hollow dans un petit studio en 1968. Depuis, elle est devenue l'une des écoles de danse les plus respectées et les plus connues de la région. Lorsque David est décédé en 1988, son partenaire Leonard Castilone a poursuivi et élargi les traditions du DDD pendant 30 ans. En 2018, à la retraite de Leonard, sa nièce Ashleigh a fièrement eu l'occasion de poursuivre le studio et de perpétuer son admirable réputation à WNY. Alors qu'ils célèbrent leur succès continu à David De Marie Dance, ils perpétuent fièrement l'héritage de David et perpétuent la qualité immaculée de son éducation en danse. Derrière eux se cachent tous les merveilleux souvenirs... devant eux... ils sont inébranlables dans la réalisation de ses rêves pour David De Marie Dance
-
- Services
- 4,000 SF
- -
- -
- Oct 2024
En activité depuis plus de 50 ans, Glamour Pools est l'autorité en matière de piscines de gunite personnalisées à usage résidentiel. En plus de créer un pool personnalisé à partir de zéro, Glamour Pools peut également donner aux clients un aspect actualisé du pool existant. Les piscines Glamour peuvent remodeler les anciennes piscines existantes avec de nouvelles tuiles, des trottoirs et des finitions en plâtre coloré.
| 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 | $915,684 CAD (2024) |
| Land Assessment | $267,075 CAD (2024) | Annual Taxes | $14,404 CAD ($1.08 CAD/SF) |
| Improvements Assessment | $648,610 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Presented by
10151-10155 Main St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.