Associated Medical Professionals

  • $1.7M
357 Genesee St, Oneida, NY 13421, USA

Associated Medical Professionals

357 Genesee St, Oneida, NY 13421, USA
  • $1.7M

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 NN leased, corporate guaranteed, freestanding, Associated Medical Professionals (AMP) investment property located in Oneida, New York. The tenant, Associated Medical Professionals of NY, PLLC, has approximately 7.5 years remaining in the initial lease term with 1 (5-year) option to extend. The lease features 1% annual rental increases commencing 2021 and continues throughout each option period, growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. Associated Medical Professionals have developed into one of the largest multi-specialty groups in Central New York (350+ employees), providing quality healthcare at each of the 10 locations.
Associated Medical Professionals is strategically located along Genesee St./State Highway 5, a primary retail thoroughfare averaging 13,100 vehicles passing by daily. The site benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for patients. The property sits adjacent to Oneida Health Hospital, a resident-centered care facility featuring a 126-bed acute care hospital, 162-bed Extended Care Facility (EFC), and a 15-bed Ambulatory Surgery Unit. In addition, the medical office is located just 1 mile east of Glenwood Plaza, a 220,000 SF shopping center anchored by Big Lots, Planet Fitness, and Movieplex Cinema, significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. Other national/credit tenants include a 24-hour Walmart Supercenter, Lowe’s Home Improvement, Tractor Supply Co., Advance Auto Parts, and more. Moreover, the asset is surrounded by several apartment complexes including Valenti’s Country Estates, Noyes Manor Residence, City Centre, and Meadowview Town Homes, providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by nearly 107,000 residents and 65,000 daytime employees with an average household income of $65,000.

Investment Highlights
7.5 Years Remaining | Corporate Guaranteed | Annual Rental Increases | Experienced Operator
NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Located Along Major Thoroughfare | Excellent Visibility & Access
Dense Retail Corridor | Strong National/Credit Tenants | Oneida Health Hospital
Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area

Broker of Record
Dan Richman
License: NY 10491205921

Details

Updated on April 12, 2020 at 1:44 pm
  • Property ID: 30759
  • Price: $1.7M
  • Property Size: 7684 sqft
  • Year Built: 1993
  • Property Type: Health Care / Medical
  • Property Status: For Sale
  • Price Per/Sf: 219.29
  • Lot Size (acres): 0.74
  • Tenancy: Single
  • Cap Rate: 7.00%
  • Net Operating Income: 117,941

Additional details

  • Lease Type: NN
  • Tenant Credit: Corporate Guarantee
  • Parking (spaces): 114
  • APN: 251201-038-063-0001-001- 014-0000
  • Ownership: Fee Simple (Land & Building)
  • Address 357 Genesee St, Oneida, NY 13421, USA
  • City Oneida
  • State/county New York
  • Zip/Postal Code 13421
  • Country United States

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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