City MD Urgent Care | Approx 13yr NN | 5788 Amboy Rd
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City MD Urgent Care | Approx 13yr NN 5788 Amboy Rd
3,279 SF Retail Building Staten Island, NY 10309 $6,545,000 ($1,996/SF) 5.50% Cap Rate
Investment Highlights
- Approximately 13 Years Remaining | Option To Extend | Scheduled Rental Increases
- Signalized, Hard Corner Intersection (21,600 VPD) | Excellent Visibility & Access
- Direct, Affluent Consumer Base | Strong Demographics In Immediate Trade Area
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Rare Staten Island Opportunity | Retail Corridor | Strong National/Credit Tenant Presence
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, CityMD Urgent Care investment property located in Staten Island, New York. The tenant, City Property USA NY, LLC has approximately 13 years remaining on its 15-year lease with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and a rental amount of the greater of $435,600 and 95% of FMV at the beginning of the option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,279 SF
Building Class
B
Year Built
2022
Price
$6,545,000
Price Per SF
$1,996
Cap Rate
5.50%
NOI
$360,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.42 AC
Zoning
R3X - Lower Density neighborhoods; permit only one- and two-family detached homes on lots that must be at least 35 feet wide.
Parking
18 Spaces (5.49 Spaces per 1,000 SF Leased)
Frontage
234 FT on Amboy Road
Amenities
- Corner Lot
- Signage
- Signalized Intersection
Walk Score ®
Very Walkable (72)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $300,686 | |
| Land Assessment | $194,764 | Total Assessment | $495,450 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$194,764
Improvements Assessment
$300,686
Total Assessment
$495,450
Contacts
-
Patrick Luther -
Matthew Mousavi -
Britt Raymond -
Kyle Fant -
SRS National Net Lease
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City MD Urgent Care | Approx 13yr NN | 5788 Amboy Rd
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