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Views: 18 DOM: 6 Updated: 10.24.24 Posted: 10.24.24 Status: Active

Summary

Price $6,545,000
Built/Renov 2022
Tenant CityMD Urgent Care
Cap Rate 5.50%
Lease Type Double NN
Guarantor Corporate
Size/SF 3,279
Lease Start 11-23-2022
#Units 182
Price/SF $1,996.04
Expiration 11-30-2037
Tenant Type Medical/Health
NOI $360,000
R. Term 13.1
Ownership Fee Simple
Rent/SF $109.79
Increases 10.0%/5/yrs
Pop 5Mi 281,015
Lot/AC 0.42
Options 1/5yrs/10%
AHHI 5Mi $129,394

Lease Highlights

  • New 2022 construction
  • The tenant has 13 years remaining on its 15-year lease with 1 (5-year) option to extend
  • 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
  • NN lease | Limited landlord responsibilities 
  • Corporate guaranteed lease

Location Description

CityMD Urgent Care is strategically located at the signalized, hard corner intersection of Amboy Rd and Foster Rd, a major retail thoroughfare with access to a combined daily traffic count of 21,600 vehicles. The property is in close proximity to Amboy Bedell Plaza, a grocery-anchored center featuring notable national tenants such as Dollar Tree, Wendy’s, Domino’s, and Dunkin’. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CityMD Urgent Care
  • Guarantor:Corporate
  • Company:VillageMD
  • # Units:182
  • Stock:Private

About Tenant

CityMD Urgent Care is a privately owned provider of urgent care services, offering walk-in medical care for non-life-threatening illnesses and injuries. Founded in 2010, CityMD has expanded to...


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Listing Broker

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