Pep Boys | NNN 1881 Ridge Rd 6,928 SF Retail Building West Seneca, NY 14224 $2,051,192 CAD ($296.07 CAD/SF) 6.25% Cap Rate

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, Pep Boys investment property located in West Seneca, New York. The tenant, Pep Boys – Manny, Moe & Jack LLC, recently executed a 5-year lease extension, extending the term though August 2031, demonstrating their continued commitment to the site. The lease features two (5-year) renewal options with 15% rental increases at the commencement of each option period, providing steady NOI growth and a hedge against inflation. The lease is structured as NNN, Tenant reimburses taxes, insurance, and common area expenses (including maintenance, repairs, snow removal, landscaping, and related operating costs), while landlord is responsible for roof and structural components.