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Single-Tenant Office

119 Kemper Ln

119 Kemper Ln, Norwich, NY 13815

Listing Price: $2,454,000

Cap Rate
8.61%
Gross SF
23,060
Rentable SF
23,060
Price/Gross SF
$106.42
Lot Size
9.16 acres
Year Built
2005

Investment Overview

Marcus & Millichap is proud to present the Office of People with Developmental Disabilities located at 119 Kemper Lane in Norwich, NY. The Subject Property is a 23,060 square foot office building situated on 9.16 acres of land fully leased on the behalf of The Dormitory Authority of the State of New York (DASNY). The Property has 2 leases - one for 18,200 square feet dedicated to the Day Habilitation Facility; the other for 4,860 square feet that’s used as a regional office. Both are modified leases where the tenant reimburses snow/lawn care expenses, and increases over the base year for real estate taxes & insurance. The DDSO works with those who have developmental disabilities - assisting people to acquire, retain or improve their self-help, socialization and adaptive skills, including communication, travel and other areas in adult education. Major capital improvements have been made to the property within the past 3 years - 4 new HVAC units, interior repainting, new exterior doors, and parking lot repairs.

Investment Highlights

  • 17 Year Operating History
  • State of New York - S&P AA+ Credit Rating
  • High Barriers To Entry - Stringent Site Selection Process
  • Strategically Located - Proximity to Routes 320, 23, 32, & 12
  • Staggered Modified Leases
  • Robust Economic Drivers & Retail Trade Area

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Financing By

Single-Tenant Office

119 Kemper Ln

Listing Price: $2,454,000

Cap Rate
8.61%
Gross SF
23,060
Rentable SF
23,060
Price/Gross SF
$106.42
Lot Size
9.16 acres
Year Built
2005

Investment Highlights

  • 17 Year Operating History
  • State of New York - S&P AA+ Credit Rating
  • High Barriers To Entry - Stringent Site Selection Process
  • Strategically Located - Proximity to Routes 320, 23, 32, & 12
  • Staggered Modified Leases
  • Robust Economic Drivers & Retail Trade Area

Investment Overview

Marcus & Millichap is proud to present the Office of People with Developmental Disabilities located at 119 Kemper Lane in Norwich, NY. The Subject Property is a 23,060 square foot office building situated on 9.16 acres of land fully leased on the behalf of The Dormitory Authority of the State of New York (DASNY). The Property has 2 leases - one for 18,200 square feet dedicated to the Day Habilitation Facility; the other for 4,860 square feet that’s used as a regional office. Both are modified leases where the tenant reimburses snow/lawn care expenses, and increases over the base year for real estate taxes & insurance. The DDSO works with those who have developmental disabilities - assisting people to acquire, retain or improve their self-help, socialization and adaptive skills, including communication, travel and other areas in adult education. Major capital improvements have been made to the property within the past 3 years - 4 new HVAC units, interior repainting, new exterior doors, and parking lot repairs.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

Financing By

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