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Views: 30 DOM: 45 Updated: 04.12.24 Posted: 04.12.24 Status: Active

Summary

Price $1,741,000
Built/Renov 1997
Tenant Tim Hortons
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,673
Lease Start 06-01-2019
#Units 5,833
Price/SF $651.33
Expiration 05-31-2039
Tenant Type Fast Food/QSR
NOI $104,436
R. Term 15.0
Ownership Fee Simple
Rent/SF $39.07
Increases 2.5%/1/yrs
Pop 5Mi 336,660
Lot/AC 0.72
Options 2/5yrs/2.5%
AHHI 5Mi $75,455

Lease Highlights

  • Tim Hortons has 15 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 2.5% annual rental escalations throughout the initial term and option periods
  • Can be purchased separately or together as a portfolio with Henrietta property
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Tim Hortons is strategically located at the signalized, hard corner intersection of Lake Avenue and W. Ridge Road, with access to a substantial combined daily traffic count of 99,040 vehicles. Adjacent to the property lies the Eastman Business Park, which accommodates over 100 businesses, including Kodak manufacturing, establishing itself as one of the world’s most comprehensive industrial...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Tim Hortons, Inc., commonly known as Tim’s or Timmies, is a Canadian multinational fast food restaurant chain. Their restaurants serve coffee, doughnuts, and other fast food items, and are...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 19,391 141,399 334,709
2023 Total Population : 19,261 142,058 336,660
2023 Employed Civilian Pop : 7,965 56,416 156,719
2023 Total Businesses : 471 5,182 11,618
2023 Average Household Income : $ 58,380 $ 60,908 $ 72,455
2023 Total Consumer Spending : $ 421 M $ 3173 M $ 9464 M
2023 Median Age : 35 36 37
2023 Total Households : 8,185 59,061 148,886
2023 Pop Age 25+: Bachelor's Degree : 1,650 13,233 43,298
2023 Average Home Value : $ 190,054 $ 170,540 $ 195,837
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NY 104 Owen St 2021 36,059 0.05 mi
Ridge Rd W Pullman Ave 2011 38,131 0.05 mi
Ridge Rd W Lake Ave 2011 35,701 0.06 mi
Ridgeway Ave Lake Ave 2011 14,793 0.06 mi
Lake Avenue Ridgeway Ave 2018 21,446 0.06 mi
Lake Avenue Ridge Rd W 2021 18,433 0.09 mi
Parkdale Ter Lake Ave 2009 374 0.09 mi
Flower City Park Lake Ave 2000 546 0.13 mi
West Ridge Road 2018 57,125 0.15 mi
Lake Ave Gorsline St 2011 21,056 0.17 mi

Listing Broker

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