Listed by Marcus & Millichap - New Jersey
$6,250,000
8 Year NUVANCE / NORTHWELL HEALTH MOB
Details
Property Type Office
Sub Type Medical Office
Square Footage 12,000
Net Rentable (SqFt) 12,000
Cap Rate 6.27%
NOI $392,058
Tenancy Single
Lease Type NN+
Lease Expiration 04/29/2034
Rent Bumps Yes
Year Built 1980
Year Renovated 2025
Stories 2
Acreage 1.700
Zoning Commercial
Parking Spaces 65 spaces
Parking Per SqFt 5.42
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 04/30/2024
MOB | 3% Annual Escalations | Across From Vassar Medical Center
Investment highlights
- Two-Story, ±12,000 SF Brick Office Building Leased To Nuvance Health / Northwell Health, An Investment-Grade Healthcare Credit Tenant (S&P Rating: A-)
- NN+ Lease With Approximately 8 Years Remaining, Providing Passive, Stable Income
- 3% Annual Rent Escalations Provide A Built-In Hedge Against Inflation
- Ideally Located Across From Vassar Brothers Medical Center, A 349-Bed Regional Hospital
- Infill, Downtown Location With Convenient Access To Route 9, Route 44/55, And The Mid-Hudson Bridge
- Proximity To Metro-North (Hudson Line) Service To Grand Central Terminal Enhances Workforce And Patient Accessibility
- Strong Population Density With Approximately 93,000 Residents Within A 5-Mile Radius
- Ample On-Site Parking With 65 Surface Spaces, Offering An Excellent 5.4/1,000 SF Parking Ratio
- Tenant Has Successfully Operated At The Property For 15 Years, Reflecting Strong Site Performance And Long-Term Occupancy Stability
Listing Contacts
Listed by Marcus & Millichap - New Jersey
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$392,058.00
$32,671.50/mo
Valuation Metrics
0
DSCR
6.27%
Cap Rate
6.27%
ROI
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