Amherst Retail for Sale - North
CBRE is pleased to exclusively offer for sale the 109,461 SF single-tenant Tops Friendly Market situated on ±7.50 acres in Amherst, NY—a component of the Buffalo, NY MSA (Population: 1.16 million+). Tops Friendly Market’s absolute NNN lease was extended for 15 years through 2038 and now has ±13.2 years of term remaining. Tops’ rent increases by $50,000 in January 2029 and 2034 during the current term and has 5% increases every 5 years during the one 10-year renewal option. Boasting an operating history of 36 years, this Amherst location is an excellent performer with a rent-to-sales under 3.50% and a 23% increase in sales since 2020.
In 2022, Tops completed an extensive $3MM+ renovation, featuring an expanded fresh perimeter, wider product assortment, refreshed interior decor and new/enhanced services including new self-checkout areas and pick up/delivery. The location boasts a unique advantage with its new in-store Nissan’s Kosher Deli and onsite True Blue Café, where customers can pick up prepared meals, play trivia and more.
One mile south of Interstate 290 (120,219 VPD), the property sits on a hard corner at the signalized intersection of Maple Road (23,079 VPD) and North Bailey Avenue (14,954 VPD) with additional access via Meyer Road. Tops is directly across from the 402-unit Boulevard Towers Apartments and is situated amid a robust retail and commercial corridor with 9.0 MSF of retail, 5.1 MSF of office, 2.9 MSF of industrial and 9,683 multifamily units within a 3-mile radius.
The immediate vicinity is highlighted by the 1 MSF Boulevard power center, which is the #1 most visited power center in the Buffalo MSA and #3 most visited in the state of New York. A half mile north of Tops, the Boulevard has welcomed 1.1 million visitors throughout 9.0 million visits during the last 12 months (Placer.ai), drawing a significant amount of traffic within feet of the site. The power center’s strong mix of national retailers includes Costco (estimated opening June 2026), Dick’s House of Sport (estimated opening April 2026), Target, Lowe’s, Trader Joe’s, Nordstrom Rack, Best Buy, T.J. Maxx, Marshalls, HomeGoods, PetSmart, Michaels, Sierra Trading Post, Homesense, JD Sports (coming soon), Sephora and plenty others (see page 8 for details). Across from the property, the 64-acre Boulevard Mall is part of a long-term redevelopment project, where it will be transformed into a mixed-use concept with housing, retail and commercial uses.
With an enrollment of 32,000+ students, The University at Buffalo—New York’s largest public university— is less than 2 miles northeast of Tops and drives substantial traffic to the area. Proximity to the university coupled with the surrounding concentration of 5,330+ households (1 mile) provide Tops with an impressive built-in customer base. Other nearby synergies include Walmart Supercenter, BJ’s Wholesale, At Home, Burlington, Sweet Home Middle School (765 students), Kenmore East Senior High School (1.0 miles west), AMC Theatres, Ashley, Esporta Fitness, Planet Fitness, Value City Furniture, Petco, DSW, Olive Garden, IHOP, Red Robin and McDonald’s. In total, Tops Friendly Market benefits from dynamic demographics with a population of 114,747 and an average household income of $98,239 within a 3-mile radius.
