Associated Medical Professionals

  • $797K
192 Genesee Street, Auburn, NY 13021, USA

Associated Medical Professionals

192 Genesee Street, Auburn, NY 13021, USA
  • $797K

Sub listings

Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in a single-tenant, net-leased, corporate guaranteed, Associated Medical Professionals (AMP) investment property located in Auburn, NY. The tenant, Associated Medical Professionals of NY, PLLC, has approximately 12.5 years remaining with 1 (5-Year) option to extend. The lease features 1% annual increases starting in September 2021, generating NOI growth. The lease is NN with the landlord responsible for structure and roof replacement.
AMP is a multi-specialty medical practice based in Syracuse, New York. The practice was established in 2008 with the objective of providing integrated clinical services to patients with the highest level of quality care. Since its inception, the practice has grown to 10 locations with more than 350 employees. Additionally, the practice serves approximately 133,000 patients each year.
AMP is located along Genesee St (10,400 cars per day) and is located within downtown Auburn, a hub of business activity, entertainment, street festivals, and special events. Nearby national/credit tenants include Kohl’s, Dick’s Sporting Goods, The Home Depot, Wegmans, Bass Pro Shops, and more, which increases consumer trade to the immediate trade area. A population of 38,000 residents with an average household income of nearly $70,000 supports the 5-mile trade area.

Investment Highlights
12.5 Years Remaining | Corporate Guarantee | Annual Rental Increases | Options To Extend
Associated Medical Professionals – 10 Locations
NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Located Along Main Thoroughfare | Downtown Auburn Retail Corridor With National/Credit Tenants
Demographics In the 5-mile Trade Area

Broker of Record
Dan Richman
License: NY 10491205921

Details

Updated on April 12, 2020 at 1:44 pm
  • Property ID: 30746
  • Price: $797K
  • Property Size: 4264 sqft
  • Year Built: 2000
  • Property Type: Health Care / Medical
  • Property Status: For Sale
  • Price Per/Sf: 186.91
  • Lot Size (acres): 0.9
  • Tenancy: Single
  • Cap Rate: 7.00%
  • Net Operating Income: 55,751

Additional details

  • Lease Type: NN
  • Tenant Credit: Corporate Guarantee
  • Zoning: C4: Commercial
  • Parking (spaces): 33
  • APN: 050100-115.68-1-3
  • Ownership: Fee Simple (Land & Building)
  • Address 192 Genesee Street, Auburn, NY 13021, USA
  • City Auburn
  • State/county New York
  • Zip/Postal Code 13021
  • Country United States

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What's Nearby?

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Contact Information

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Britt Raymond
  • Britt Raymond
  • (929) 229-2614

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Britt Raymond
  • Britt Raymond