Tim Hortons

1525 Lake Avenue, Rochester, NY 14615

$1,741,000

Cap Rate 6.00%

Views: 69 DOM: 106 Updated: 07.17.24 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 14.10	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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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Tim Hortons Wikipedia Tim Hortons Wikipedia Rochester, New York Zip Code 14615 Broker Site Page Drone Video (Vimeo)

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Tim Hortons
Guarantor:Corp T and Rated
Company:Restaurant Brands International, Inc.
# Units:5,833
Tenant S&P: BB
Stock: NYSE: QSR

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

Steve Schrenk

Forged Real Estate

Contact

27 Listings
2443 Views
6 Sold

Marc Mandel

Forged Real Estate

Contact

28 Listings
2459 Views
6 Sold

Steve Schrenk

Steve Schrenk is the co-founder and Principal of Forged Real Estate. Steve specializes in the acquisition and disposition investment advisory services of single-tenant and multi-tenant net lease properties, sale-leasebacks, and small shopping centers throughout the country. Since 2018, Steve has been involved in 300+ transactions totaling over $1 billion in total volume. Steve is a knowledgeable real estate professional with years of experience who prides himself on the team’s client centric an

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Marc Mandel

Marc Mandel is the co-founder and Managing Principal of Forged Real Estate. Marc has over 18 years of experience in the commercial real estate industry and currently leads the team at Forged Real Estate with a focus on single-tenant, sale-leaseback, and small shopping center investment advisory services throughout the country. He has completed over 820 transactions throughout his career with a value of approximately $1.6 billion. Prior to founding Forged Real Estate, Marc previously was one of

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