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Views: 34 DOM: 140 Updated: 05.20.24 Posted: 01.24.24 Status: Active

Summary

Price $8,800,000
Built/Renov 2021
Tenant Home Depot Distribution Center
Cap Rate 5.02%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 50,000
Lease Start 09-01-2021
#Units 2,335
Price/SF $176.00
Expiration 10-31-2031
Tenant Type Big Box Retail
NOI $442,170
R. Term 7.4
Ownership Fee Simple
Rent/SF $8.84
Increases 2.0%/1/yrs
Pop 5Mi 145,500
Lot/AC 6.07
Options 2/5yrs/2%
AHHI 5Mi $78,096

Lease Highlights

  • Build-to-suit for Home Depot in 2021 | 50,000 SF with 28’ clear heights; 18 dock high doors
  • New roof with a 30-year warranty
  • The tenant has 7+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2% rental increases annually
  • Corporate guarantee | Investment grade tenant

Location Description

The subject property is strategically located on W. Henrietta Road (21,600+ VPD) within close proximity to Interstate 390 which sees an additional 62,400 vehicles per day. The site is comprised of three points of ingress/egress, with 3.395 SF of office space, 50 parking spaces and one drive-in door. It is situated near many national tenants including CarMax, The Marketplace Mall, Target,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Home Depot
  • Guarantor:Corp T and Rated
  • Company:The Home Depot, Inc.
  • # Units:2,335
  • Tenant S&P: A
  • Moody’s: A2
  • Stock: NYSE: HD

About Tenant

The Home Depot, Inc. (NYSE: HD), is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, and is the largest home...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,781 39,712 147,102
2023 Total Population : 2,851 39,328 147,429
2023 Employed Civilian Pop : 1,461 17,247 69,938
2023 Total Businesses : 453 2,739 5,916
2023 Average Household Income : $ 56,044 $ 77,594 $ 90,321
2023 Total Consumer Spending : $ 57 M $ 958 M $ 4682 M
2023 Median Age : 25 29 35
2023 Total Households : 1,173 14,143 59,508
2023 Pop Age 25+: Bachelor's Degree : 434 6,169 22,569
2023 Average Home Value : $ 161,199 $ 204,768 $ 235,060
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Henrietta Rd Telco Rd 2011 23,400 0.40 mi
Jefferson Road Hylan Dr 2018 32,995 0.55 mi
Jefferson Road W Henrietta Rd 2021 29,488 0.58 mi
Hylan Dr Marketplace Mall 2009 12,956 0.61 mi
NY 252 Tower Dr 2021 19,602 0.61 mi
NY 252 Tower Dr 2021 19,602 0.61 mi
Bailey Rd W Henrietta Rd 2011 9,525 0.66 mi
Hylan Dr Jefferson Rd 2012 20,338 0.69 mi
Hylan Drive I- 390 2021 13,673 0.76 mi
Hylan Dr 2021 5,022 0.79 mi

Listing Broker

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