Hornell Railroad Center | Below Market Rents | NNN Leases

Listing Hornell Railroad Center | Below Market Rents | NNN Leases Price:$4,375,000 Status:For Sale Hornell Railroad Center is in the heart of Downtown Hornell, a short walk to everything including the region’s largest employer, Alstom Industries. The property has four, strong, stable national tenants in Sav-A-Lot, Family Dollar, Aaron’s Rents, and Tractor Supply. The property is shadowed by a new Rite Aid, on a separate parcel but sharing ingress and egress via a traffic signal controlling the main entrance to the property. Tractor Supply is in a freestanding building on the southern end of the property, while the other three tenants are inline with each other. The property is in excellent condition with no deferred maintenance, consisting of red block, red brick, and stucco construction, an asphalt parking lot with 260 spaces, and attractive landscaping. Family Dollar has occupied since 1991. In 2012, the inline space was reconfigured to add Sav-A-Lot (and refurbished and upgraded), and Tractor Supply was built in 2010. Hornell Railroad Center has no immediate competition except for “main street” retail in the central downtown area. Hornell Plaza is a 253,329 SF regional center three miles north of downtown Hornell anchored by Wegman’s, Lowes, and Wal-Mart. Given its size and tenant mix, it is not directly competitive with Hornell Railroad Center. The City of Hornell is in Western New York State, in the southwest corner of the Finger Lakes Region. It is nestled in the Canisteo Valley just off of Interstate 86, 60 miles from Rochester, 90 miles from Buffalo, and 40 miles from the Elmira-Corning area in the Southern Tier of New York. Hornell is home to the largest railcar manufacturing facility in North America, owned by Alstom Industries, delivering over 60 railcars a month to cities and metro systems all over North America. The facility employs over 1500 people, and is a short walk from Hornell Railroad Center. Hornell is characterized by middle class single family housing, a dynamic and active downtown area with a mix of national and local independent businesses, and state and county office buildings populated by the legal community of Steuben County and supporting businesses.

Hornell Railroad Center | Below Market Rents | NNN Leases