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+) is up for sale. Tops Friendly Market's absolute NNN lease was extended for 15 years through 2038 and now has ±12.6 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. Investment highlights include an absolute NNN lease, opportunity to acquire the adjacent parking parcel at end of term, strategic location amid a robust retail corridor (#1 retail area in the Buffalo MSA), excellent performer with long operating history, and extensive renovations in 2022.
