4160 Merrick Rd
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4160 Merrick Rd
17,529 SF 100% Leased Office Building Massapequa, NY 11758 $6,500,000 ($371/SF) 6.70% Cap Rate
Executive Summary
Lee & Associates NYC is pleased to present for exclusive sale a multi-tenant medical office property located in Long Island, New York
(the “Property”). The Property offers investors a rare opportunity to acquire a superior quality medical asset anchored by RadNet, a 36
year old publicly traded company.
The Property is anchored by Mid Rockland Imaging Partners, with the balance leased to other medical professionals. Mid Rockland
Imaging Partners is a subsidiary of RadNet (Nasdaq: RDNT), a leading national radiology provider with 332 imaging centers across the
United States. Founded in 1984, RadNet is the largest national provider of medical imaging and radiology services in the country and
has more than $1.1 billion in annual revenue.
Nassau and Suffolk Counties are large suburban counties, occupying the eastern portion of Long Island in New York. A combined
2.8 million people live in Nassau and Suffolk Counties, where the largest employer has been Northwell Health for almost a decade.
Healthcare is the largest employment sector in both Nassau and Suffolk Counties, and other major healthcare employers include
Catholic Health Services and Winthrop University Hospital. The median income for 2019 in Nassau County was $118,435 and in Suffolk
County was $106,228.
(the “Property”). The Property offers investors a rare opportunity to acquire a superior quality medical asset anchored by RadNet, a 36
year old publicly traded company.
The Property is anchored by Mid Rockland Imaging Partners, with the balance leased to other medical professionals. Mid Rockland
Imaging Partners is a subsidiary of RadNet (Nasdaq: RDNT), a leading national radiology provider with 332 imaging centers across the
United States. Founded in 1984, RadNet is the largest national provider of medical imaging and radiology services in the country and
has more than $1.1 billion in annual revenue.
Nassau and Suffolk Counties are large suburban counties, occupying the eastern portion of Long Island in New York. A combined
2.8 million people live in Nassau and Suffolk Counties, where the largest employer has been Northwell Health for almost a decade.
Healthcare is the largest employment sector in both Nassau and Suffolk Counties, and other major healthcare employers include
Catholic Health Services and Winthrop University Hospital. The median income for 2019 in Nassau County was $118,435 and in Suffolk
County was $106,228.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
17,529 SF
Building Class
C
Year Built
1970
Price
$6,500,000
Price Per SF
$371
Cap Rate
6.70%
NOI
$435,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,529 SF
Slab To Slab
10’
Building FAR
0.33
Lot Size
1.23 AC
Zoning
Office/Medical - Commercial Building Zoned for Office, Professional, Medical or Retail Use
Parking
80 Spaces (4.56 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Partitioned Offices
- Drop Ceiling
- Air Conditioning
Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 2489-65-027-00-0748-0 | Improvements Assessment | $14,138 |
| Land Assessment | $11,656 | Total Assessment | $25,794 |
PROPERTY TAXES
Parcel Number
2489-65-027-00-0748-0
Land Assessment
$11,656
Improvements Assessment
$14,138
Total Assessment
$25,794
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4160 Merrick Rd
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