Medical Arts - 8.26 Cap Rate - 100% Leased | 792 Harrison Ave
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Medical Arts - 8.26 Cap Rate - 100% Leased 792 Harrison Ave
20,000 SF 100% Leased Office Building Riverhead, NY 11901 $9,563,520 CAD ($478 CAD/SF) 8.26% Cap Rate
Investment Highlights
- 8.26% Cap Rate
- Close to Northwell Health / Peconic Bay Medical Center (regional hospital)
- Great for 1031 Investment
- 100% Leased - NNN Leases - All Medical Tenants
- OPPORTUNITY ZONE property
- Well Maintained Property
Executive Summary
8.26% Cap Rate - 100% Leased Medical Arts Building. All solid and stable medical tenants.
Rent is under market - great upside. Current NOI - $561,817. Triple Net Leases.
OPPORTUNITY ZONE PROPERTY - located in Qualified Opportunity Zone.
Great property for a 1031 exchange.
Built in 2009 - well maintained.
Located very close to the large regional hospital of Eastern Long Island - Peconic Bay Medical Center, part of Northwell Health.
Great location, excellent visibility. Plenty of parking directly in front of offices
PROOF of FUNDS and NDA Required for Tenant Info.
Rent is under market - great upside. Current NOI - $561,817. Triple Net Leases.
OPPORTUNITY ZONE PROPERTY - located in Qualified Opportunity Zone.
Great property for a 1031 exchange.
Built in 2009 - well maintained.
Located very close to the large regional hospital of Eastern Long Island - Peconic Bay Medical Center, part of Northwell Health.
Great location, excellent visibility. Plenty of parking directly in front of offices
PROOF of FUNDS and NDA Required for Tenant Info.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
20,000 SF
Building Class
B
Year Built
2009
Price
$9,563,520 CAD
Price Per SF
$478 CAD
Cap Rate
8.26%
NOI
$790,139 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
20,000 SF
Building FAR
0.20
Land Acres
2.30 AC
Opportunity Zone
Yes
Zoning
Commercial - Possible room for expansion with the purchase of Agricultural Development Rights
Parking
125 Spaces (6.25 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 0600-108-00-04-00-004-000 | Improvements Assessment | $518,817 CAD |
| Land Assessment | $24,965 CAD | Total Assessment | $543,782 CAD |
PROPERTY TAXES
Parcel Number
0600-108-00-04-00-004-000
Land Assessment
$24,965 CAD
Improvements Assessment
$518,817 CAD
Total Assessment
$543,782 CAD
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Medical Arts - 8.26 Cap Rate - 100% Leased | 792 Harrison Ave
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