Community Care Physicians | 14 Vista Blvd
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Community Care Physicians 14 Vista Blvd
6,000 SF Office Building Slingerlands, NY 12159 $1,967,200 ($328/SF) 7.85% Cap Rate
Investment Highlights
- Best in Class Operator - Largest independent multi-specialty medical group in the Capital Region of New York
- Albany MSA Opportunity - Consistently ranked by US News as one of the best
- Superior Location - Diverse area with several retail and restaurant tenants nearby as well as other medical practices
- High Medical Expenditure Community - Residents in the area are generally older and spend 72% more on healthcare than the national average
- Affluent Demographics - 5-mile radius population of over 130,000 people and an average household income of over $197,000 within a 1-mile radius
- Certificate of Need - State Relocation or building new facilities is very challenging in New York
Executive Summary
Northmarq is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant medical office building located in Slingerlands, New York (Albany MSA). The property is 100% occupied by Community Care Physicians (CCP). The tenant is subject to a Modified Gross lease structure with 1% annual rental increases and one, 5-year option remaining. The initial lease term has 3.6 years of term remaining.
The tenant, Community Care Physicians, is the largest independent multi-specialty medical group in the Capital Region of New York. Community Care Physicians has over 1,800 employees, 430 practitioners, and over 75 practices that cover over 30 different specialties of healthcare services. CCP specifically has over 35 locations in the greater Capital Region of New York, including the subject property.
The property is advantageously located in an affluent neighborhood directly off Vista Blvd which sees 11,000 VPD. The property is situated near several retail and restaurant tenants as well as other medical practices including physical therapy, plastic surgery, and ophthalmology. The market has exceptional demographics, with a 5-mile radius population of over 130,000 people and an average household income of over $197,000 within a 1-mile radius.
In association with: Jason Maier, NY Lic # 10301215989
The tenant, Community Care Physicians, is the largest independent multi-specialty medical group in the Capital Region of New York. Community Care Physicians has over 1,800 employees, 430 practitioners, and over 75 practices that cover over 30 different specialties of healthcare services. CCP specifically has over 35 locations in the greater Capital Region of New York, including the subject property.
The property is advantageously located in an affluent neighborhood directly off Vista Blvd which sees 11,000 VPD. The property is situated near several retail and restaurant tenants as well as other medical practices including physical therapy, plastic surgery, and ophthalmology. The market has exceptional demographics, with a 5-mile radius population of over 130,000 people and an average household income of over $197,000 within a 1-mile radius.
In association with: Jason Maier, NY Lic # 10301215989
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
6,000 SF
Building Class
B
Year Built
2007
Price
$1,967,200
Price Per SF
$328
Cap Rate
7.85%
NOI
$154,425
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,000 SF
Building FAR
0.07
Land Acres
1.92 AC
Zoning
MED
Parking
40 Spaces (6.67 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Community Care, Inc. has made it a mission at Community Care to help their members – vulnerable elders and adults with disabilities – live independently within the community. the Community Care, Inc., dedicated team works with you to determine your health and social needs and then develops a care plan to ensure those needs are met. Community Care, Inc. is committed to providing compassionate, personalized care that empowers you to live a healthy and independent lifestyle.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Number | 012200-074-000-0001-029-023-0000 | Improvements Assessment | $1,083,000 |
| Land Assessment | $267,000 | Total Assessment | $1,350,000 |
PROPERTY TAXES
Parcel Number
012200-074-000-0001-029-023-0000
Land Assessment
$267,000
Improvements Assessment
$1,083,000
Total Assessment
$1,350,000
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Jeff Matulis -
Toby Scrivner -
Northmarq
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Community Care Physicians | 14 Vista Blvd
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