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33272410
33272412

41 Fullerton Avenue, Newburgh, NY 12550

BW
CA CA 01952225
Brian Wine
Listed by Brian Wine
$595,300
4 days on market
Updated 4 days ago

West End Veterinary Office | NNN Leased | 3 Years

Details
APN 331100 27-1-26
Property Type Retail
Sub Type Animal hospital, Veterinary (+1)
Square Footage 2,700
Units 1
Cap Rate 8%
NOI $47,624
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 08/19/2029
Remaining Term 3.2
Rent Bumps Yes
Lease Options (3) 5 Years
Price per SqFt $220
Year Built 1970
Buildings 1
Stories 2
Acreage 0.210
Zoning RL
Parking Spaces 18 spaces
Parking Per SqFt 6.67
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/19/2019
Ground Lease No
Ownership Simple Interest

About This Property

Marketing description

We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, West End Veterinary Office investment property located in Newburgh, New York. The Tenant, Community Veterinary Partners, has over 3 years remaining in their initial term with 3 (three) 5-year options to extend. The lease features annual increases of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Community Veterinary Partners has a collective of over 3,000 unique veterinary care providers dedicated to bringing joy to families through their unwavering care for beloved pets.

West End Veterinary Office is strategically located on Fullerton Avenue. The site benefits from superior visibility via significant street frontage and a monument sign situated along Fullerton Avenue. It shares this busy Newburgh area with businesses like Mc Donalds, Subway, Shell, Gulf, AutoZone. The location benefits from the frequent street traffic of Fullerton Avenue, which sees 4,445 vehicles daily. The 5-mile trade area is supported by a population of 110,539 and 37,860 daytime employees with an average household income of $122,690.

Investment highlights

• Over 3 years remaining in their initial term

• CVP has 3 (three) 5-Year options to extend

• The lease features annual rental increases of 2%

• Community Veterinary Partners has a collective of over 3,000 unique veterinary care providers dedicated to bringing joy to families through their unwavering care for beloved pets

• Superior street visibility via significant street frontage and a large monument sign situated along Fullerton Ave

• Strategically located off of Fullerton Ave, which averages 4,445 vehicles passing by daily

• More than 110,539 residents and over 37,860 employees support the 5-mile trade area

• Those within 1-mile of the subject property boast an affluent average household income of $81,440

• Populated business thoroughfare shared with McDonalds, Subway, Shell, Gulf, AutoZone

• NNN lease with limited landlord responsibilities of exterior, parking lot, paved walkways, roof & structure

• Ideal, low-management for a passive investor

Listing Contacts

BW
CA CA 01952225
Brian Wine
Listed by Brian Wine

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$47,624.00
$3,968.67/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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