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Tops Plaza - Upstate NY - Cash Flowing 1963 US 20 122,799 SF 99% Leased Retail Building Online Auction Sale Waterloo, NY 13165
Investment Highlights
- Tops Plaza at Seneca Falls offers investors the opportunity to acquire a cash-flowing shopping center in the Finger Lakes region of Upstate New York.
- Featuring a synergistic tenant mix of Tops Friendly Markets, Rent-A-Center, AutoZone, Transform Martial Arts and Fitness, and more.
- Situated in a major tourism destination known for wine production, outdoor recreation, and scenic lakes seeing over 306 million visitors annually.
- Positioned on US Route 20, a well-travelled road for residents and visitors, seeing traffic counts of nearly 12,000 vehicles per day.
- Surrounded by many retailers drawing in additional traffic like Walmart Supercenter, McDonald’s, Dunkin’, Aldi, Burger King, and more.
Executive Summary
Tops Plaza at Seneca Falls, formerly known as Kingdom Plaza, is a premier cash-flowing opportunity in the Finger Lakes region of Upstate New York.
Constructed in 1960 and extensively renovated in 2019, this expansive multi-tenant center has been a cornerstone for the Seneca Falls and Waterloo communities for decades. Encompassing a generous 122,799 square feet all on one level and spanning 16.101 acres, the property provides ample space and convenience, including 568 parking spaces to easily accommodate both employees and visitors. Highly visible monument signage ensures the center draws steady attention from travelers seeking a variety of services and retail options. The property boasts a diverse blend of national retailers and internet-resistant tenants, including Tops Friendly Markets, Thrifty Shopper, Rent-A-Center, AutoZone, Bronze & Beauty Lounge, Transform Martial Arts, Mark’s Pizzeria, and Pat’s Pizzeria. For investors, the opportunity remains to lease the remaining vacancy at current market rates, offering potential for increased net operating income and long-term growth.
Tops Plaza stands out as an excellent investment opportunity, offering consistent cash flow in a vibrant tourist region. Conveniently located on US Route 20 between Seneca Lake and Cayuga Lake, the property is easily accessible for both residents and visitors. Positioned roughly midway between Rochester and Syracuse, the area is renowned for its more than 70 wineries, abundant outdoor recreation, and smooth access to major routes. Just a short 10-minute drive down NYS 414 leads to the nearby Waterloo Premium Outlets Center and the Del Lago Resort and Casino. Nestled between the towns of Waterloo and Seneca Falls, Tops Plaza benefits from high traffic from both communities. Local attractions such as the Cayuga-Seneca Canal Trail and Silver Creek Golf Club further enhance the appeal, making the area a destination for leisure and tourism.
This location enjoys significant advantages within the broader Seneca Falls market. Vacancy rates in Seneca Falls remain tightly controlled at under 3.8%. With no new developments currently underway, there is no immediate competition. Rents have consistently increased each year, which is promising for investors.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Constructed in 1960 and extensively renovated in 2019, this expansive multi-tenant center has been a cornerstone for the Seneca Falls and Waterloo communities for decades. Encompassing a generous 122,799 square feet all on one level and spanning 16.101 acres, the property provides ample space and convenience, including 568 parking spaces to easily accommodate both employees and visitors. Highly visible monument signage ensures the center draws steady attention from travelers seeking a variety of services and retail options. The property boasts a diverse blend of national retailers and internet-resistant tenants, including Tops Friendly Markets, Thrifty Shopper, Rent-A-Center, AutoZone, Bronze & Beauty Lounge, Transform Martial Arts, Mark’s Pizzeria, and Pat’s Pizzeria. For investors, the opportunity remains to lease the remaining vacancy at current market rates, offering potential for increased net operating income and long-term growth.
Tops Plaza stands out as an excellent investment opportunity, offering consistent cash flow in a vibrant tourist region. Conveniently located on US Route 20 between Seneca Lake and Cayuga Lake, the property is easily accessible for both residents and visitors. Positioned roughly midway between Rochester and Syracuse, the area is renowned for its more than 70 wineries, abundant outdoor recreation, and smooth access to major routes. Just a short 10-minute drive down NYS 414 leads to the nearby Waterloo Premium Outlets Center and the Del Lago Resort and Casino. Nestled between the towns of Waterloo and Seneca Falls, Tops Plaza benefits from high traffic from both communities. Local attractions such as the Cayuga-Seneca Canal Trail and Silver Creek Golf Club further enhance the appeal, making the area a destination for leisure and tourism.
This location enjoys significant advantages within the broader Seneca Falls market. Vacancy rates in Seneca Falls remain tightly controlled at under 3.8%. With no new developments currently underway, there is no immediate competition. Rents have consistently increased each year, which is promising for investors.
Property tours are available by appointment only. Please contact the listing broker to schedule.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Freestanding
Building Size
122,799 SF
Building Class
B
Year Built/Renovated
1960/2019
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.18
Lot Size
16.10 AC
Parcel Number
453289-033-000-0001-014-001-0000
Zoning
commercial
Parking
568 Spaces (4.63 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
1,305
12,228
16,792
2020 Population
1,446
13,267
17,776
2030 Population
1,266
11,924
16,478
2025-2030 Projected Population Growth
-3.0%
-2.5%
-1.9%
Daytime Employees
2,928
7,854
11,511
Total Businesses
252
777
926
Average Household Income
$68,613
$71,173
$74,851
Median Household Income
$59,713
$52,647
$57,144
Total Consumer Spending
$13.6M
$138M
$193.5M
Median Age
50.1
43.8
43.5
2025 Households
542
5,338
7,254
Percent College Degree or Above
9%
11%
11%
Average Home Value
$139,130
$162,986
$179,615
$ values in USD
Nearby Major Retailers
Sale Advisors
Sale Advisors
Kodi Traver, Licensed Real Estate Salesperson
Kodi Traver joined Marcus & Millichap at the end of 2019 and is affiliated with the French Retail Team, a top-producing retail team. He focuses on representing owners and developers in the disposition of commercial real estate assets in the Northeast and has built a brand as an expert in secondary & tertiary market dispositions. Mr. Traver has represented institutions, REITS, private equity funds, public companies, private companies, developers, and private investors on assets ranging in size from $5 million to $25 million. Within his first three years, he closed over 20 transactions valued at over $60 million, earning him the following awards: 2020 Marcus & Millichap Rookie of the Year, 2020 Marcus & Millichap Pace Setter, 2021 CoStar Power Broker, and 2022 Marcus & Millichap Rising Star. In his free time, Mr. Traver enjoys sailing, skiing, fishing, golfing, and spending time with his wife and children.
Joseph French, Licensed Associate Real Estate Broker
Joseph French boasts an extensive career spanning over 30 years, marked by proficiency in development, asset and property management, leasing, and investment sales. With a track record encompassing sales of more than 300 properties totaling over 25 million square feet and exceeding $5 billion in value, French has navigated various market cycles with finesse.
A respected figure in the industry, Mr. French’s insights have been featured in prominent publications such as Shopping Centers Today, GlobeSt.com, Retail Traffic, CCIM Magazine, and National Real Estate Investor. He has also graced numerous industry conferences as a featured speaker. Mr. French has received numerous awards over the years. A few of his most recent include the “Best of White Plains Award” for the 9th consecutive year in the Real Estate & Construction category, as well as being selected as one of the New York & Tri-State winners in Connect CRE’s 2024 Top Broker Awards.
French also consistently ranked among Sperry Van Ness’ Top 10 Brokers and received multiple National Achievement Awards from Marcus & Millichap highlighting his exceptional contributions. Holding the esteemed CCIM designation and real estate broker licenses in New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts, French brings a wealth of expertise to his role. Before joining Marcus & Millichap, he served in key leadership positions at Sperry Van Ness and The Hutensky Group and also founded his own successful firm focusing on urban retail projects. His previous roles at renowned firms like Landau & Heyman, Brandenberg Realty, and CS Brown Associates further enrich his extensive professional background.
In March, 2020, French authored a book titled “French Lessons: Letters to my Daughters”, which combines an autobiographical portrait of a highly successful, real-estate investment adviser with advice about business and life, communicated through letters from French to his three adult daughters.
A respected figure in the industry, Mr. French’s insights have been featured in prominent publications such as Shopping Centers Today, GlobeSt.com, Retail Traffic, CCIM Magazine, and National Real Estate Investor. He has also graced numerous industry conferences as a featured speaker. Mr. French has received numerous awards over the years. A few of his most recent include the “Best of White Plains Award” for the 9th consecutive year in the Real Estate & Construction category, as well as being selected as one of the New York & Tri-State winners in Connect CRE’s 2024 Top Broker Awards.
French also consistently ranked among Sperry Van Ness’ Top 10 Brokers and received multiple National Achievement Awards from Marcus & Millichap highlighting his exceptional contributions. Holding the esteemed CCIM designation and real estate broker licenses in New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts, French brings a wealth of expertise to his role. Before joining Marcus & Millichap, he served in key leadership positions at Sperry Van Ness and The Hutensky Group and also founded his own successful firm focusing on urban retail projects. His previous roles at renowned firms like Landau & Heyman, Brandenberg Realty, and CS Brown Associates further enrich his extensive professional background.
In March, 2020, French authored a book titled “French Lessons: Letters to my Daughters”, which combines an autobiographical portrait of a highly successful, real-estate investment adviser with advice about business and life, communicated through letters from French to his three adult daughters.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Victoria Quade
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Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Tops Plaza - Upstate NY - Cash Flowing | 1963 US 20
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