Office Medical

VA Anchored MOB

572 S Salina St, Syracuse, NY 13202

Listing Price: $2,335,000

Cap Rate
7.01%
Gross SF
16,472
Rentable SF
16,472
Price/Gross SF
$141.76
Year Built
1990
Lot Size
0.88 acres

Investment Overview

Marcus & Millichap is pleased to present the VA anchored medical office building, located at 572 S Salina Street in Syracuse, NY.

The 16,472 SF subject property was constructed in 1990 and underwent a full renovation in 2014 to suit the VA's needs. The VA (AAA Credit Rating) leases 85% of the building and they spent approximately $1M on Tis for their spaces. The other tenant in the project is AccessCNY (Unique Perspectives), which is a peer-run drop-in mental health center that offers a safe/supportive and non-judgmental environment for individuals to seek support.

The building is situated along the inner perimeter of Downtown Syracuse at the crossroads of S Salina St, considered the city's main street and Adams St, which is the well-traveled route to Downtown Syracuse, Syracuse University and major medical centers. Syracuse's Centro Bus station is located directly across the street from the subject property and approximately 10,000 people pass through it every day.

This easy to manage project is well positioned for future success and offers an investor a recession/pandemic resistant investment, with attractive AAA credit rated anchor tenancy.

Investment Highlights

  • VA Anchored Medical Office Building
  • 85% Leased to the VA (AAA Credit Rated)
  • Full 2014 Renovation - The VA has Spent Approximately $1M in TIs
  • Low PPSF - $142/SF
  • Well Located in Downtown Syracuse Near Major Transportation Hubs
  • Stable Pandemic/Recession Resistant Investment

Exclusively Listed By

Broker of Record

  • J.D. Parker

    Broker of Record

    License(s): NY: 10311204323

    New York

Listing Price: $2,335,000

Cap Rate
7.01%
Gross SF
16,472
Rentable SF
16,472
Price/Gross SF
$141.76
Year Built
1990
Lot Size
0.88 acres

Investment Highlights

  • VA Anchored Medical Office Building
  • 85% Leased to the VA (AAA Credit Rated)
  • Full 2014 Renovation - The VA has Spent Approximately $1M in TIs
  • Low PPSF - $142/SF
  • Well Located in Downtown Syracuse Near Major Transportation Hubs
  • Stable Pandemic/Recession Resistant Investment

Investment Overview

Marcus & Millichap is pleased to present the VA anchored medical office building, located at 572 S Salina Street in Syracuse, NY.

The 16,472 SF subject property was constructed in 1990 and underwent a full renovation in 2014 to suit the VA's needs. The VA (AAA Credit Rating) leases 85% of the building and they spent approximately $1M on Tis for their spaces. The other tenant in the project is AccessCNY (Unique Perspectives), which is a peer-run drop-in mental health center that offers a safe/supportive and non-judgmental environment for individuals to seek support.

The building is situated along the inner perimeter of Downtown Syracuse at the crossroads of S Salina St, considered the city's main street and Adams St, which is the well-traveled route to Downtown Syracuse, Syracuse University and major medical centers. Syracuse's Centro Bus station is located directly across the street from the subject property and approximately 10,000 people pass through it every day.

This easy to manage project is well positioned for future success and offers an investor a recession/pandemic resistant investment, with attractive AAA credit rated anchor tenancy.

Exclusively Listed By

Broker of Record

  • J.D. Parker

    Broker of Record

    License(s): NY: 10311204323

    New York

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