Property Details
Price :
Square Feet :
Cap Rate :
$4,333,000
4,005
6.00%
NOI :
Acres :
$259,996
0.58
Property Type :
Property Status :
Retail
Available
Investment Highlights
- Corporate-Guaranteed Absolute NNN Investment: 4,005 SF CityMD Urgent Care Facility Leased on an Absolute NNN Basis, With Zero Landlord Responsibilities and Tenant Responsible for All Property Expenses, Including Roof and Structure.
- Long-Term Lease With Contractual Rent Growth: Approximately 6.75 Years Remaining on the Original 10-Year Lease, With 2% Annual Rent Increases, One Five-Year Renewal Option and No Early Termination Option or Right of First Refusal.
- 6.00% Going-In Cap Rate: Offered at $4,333,000 With $259,996 of In-Place NOI, Providing Stable Cash Flow and Built-In Annual Income Growth Through Contractual Rent Escalations.
- Established Regional Healthcare Operator: CityMD, Founded in 2010, Operates More Than 150 Urgent Care Locations Across New York, New Jersey, and Connecticut and Is Part of Summit Health's Extensive Outpatient Healthcare Network.
- Highly Visible Hard-Corner Location: Strategically Positioned at the Intersection of Bloomfield Avenue, Liberty Street, and State Street, With Prominent Frontage and Exposure to Approximately 30,100 Vehicles Per Day.
- Exceptional On-Site Parking: Property Features 30 Dedicated Parking Spaces Serving a 4,005-Square-Foot Healthcare Facility, Providing Convenient Patient Access Within Bloomfield's Densely Populated Downtown Corridor.
- Significant Surrounding Residential Development: Adjacent Property Approved for a 200-Unit Multifamily Development, Complementing Nearby Projects Including Avalon Bloomfield Station (224 Units), The Royal (199 Units), and Six Points at Bloomfield Station (176 Units).
- Strong Demographics and Regional Accessibility: More Than 321,000 Residents Within Three Miles With Average Household Incomes Exceeding $109,000, an 86 Walk Score, and Convenient Access to the Garden State Parkway, Interstate 280, and NJ Transit Rail Service.
