A retail property leased to a CVS in upstate New York has been sold to a Long Island investor for $2.165 million.
Main C LLC, an entity registered to a Great Neck-based real estate investor, purchased a 10,125-square-foot retail building on .96 acres at 117 E. Main St. in Westfield. The town is located on Lake Erie in the western corner of the state.
The CVS lease on the property isn’t set to expire until Jan. 2033 and has several 5-year options if the tenant wants to extend it.
The sale price equates to a 6.1 percent cap rate.
Amanda Gordon of Silber Investment Properties represented the buyer, while her Silber Investment Properties colleague Blake Benitez represented sellers Westfield Leon LLC & Westfield Michael LLC in the sales transaction.