Description

Offered for sale is a ground lease property occupied by Canandaigua National Bank in Webster, NY. The 3,168-square-foot freestanding building sits on approximately 1.08 acres and has 10.3 years remaining on the lease, with a 15-year extension executed in 2020 and scheduled rental increases every five years. Positioned on a signalized hard corner at Ridge Road and Jackson Road, the property benefits from 19,925 vehicles per day, dual access points, and ample parking. With below-market rent at $36.46/SF compared to other banks in the New York market, it presents a strong income opportunity. The site is adjacent to major regional retail hubs serving Rochester’s northeast submarket and is located in an affluent trade area with an average household income of $132,154 within five miles. Canandaigua National Bank, an established regional financial institution with consistent deposit growth of $125 million in 2024, further underscores the stability and investment appeal of this property.