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Single-Tenant Office Medical

SightMD | 3% Annual Increases | Brooklyn, NYC

902 49th St, Brooklyn, NY 11219

Listing Price: $4,042,105

Cap Rate
5.75%
Tenant Name
SightMD
Years Remaining On Lease
9.8
Gross SF
4,800
Guarantor
Private Guarantee
Rentable SF
4,800
Price/Gross SF
$842.11
Lease Type
Double Net
Rent Per Square Feet
$48.00

Investment Overview

This SightMD offering is an opportunity to acquire a net-leased Eye Care Facility in one of the largest cities in the world. The asset is 100% leased to SightMD with approximately 10-years remaining on a new 10-year lease. The SightMD provides an investor with a prime New York City asset in the heart of Brooklyn with minimal landlord responsibilities. The asset features a best-in-class location that has operated as an eye-care facility for over a decade. The entire two-floor building features 4,800 square feet of interior space. The building consists of a basement level (1,700 SF) a first floor for medical use (1,700 SF) and a second floor for office space (1,400 SF). The annual rent is $230,400 ($19,200 monthly) and features three percent (3%) rental increases annually, an above market increase structure and strong hedge against inflation. The asset is conveniently located on the corner of 49th Street and 9th Avenue in Brooklyn and is in immediate proximity of Maimonides Hospital, a 711-Bed Facility. This corner parcel is essential to any further expansion of the Maimonides Hospital, please contact the listing agent for more details.

Investment Highlights

  • World-Class Location – Strategically Situated Among Major Residential Neighborhoods and Local Shops
  • Strategically Located in the Middle of Maimonides Hospital's Campus | Leading 711-Bed Facility
  • One of the Last Remaining Independent Medical Parcels in a Heavily Concentrated Medical Area (See Page 11)
  • Maimonides Hospital has Acquired and Developed the Entire City Block Directly Across the Street |SightMD's Parcel is Key to Further Maimonides Expansion
  • More Than 169,000 Individuals Within a One-Mile Radius With an Average Household Income Exceeding $95,000 in a Three-Mile Radius
  • Brooklyn is the Most Populated Borough in New York City

Exclusively Listed By

Single-Tenant Office Medical

SightMD | 3% Annual Increases | Brooklyn, NYC

Listing Price: $4,042,105

Cap Rate
5.75%
Tenant Name
SightMD
Years Remaining On Lease
9.8
Gross SF
4,800
Guarantor
Private Guarantee
Rentable SF
4,800
Price/Gross SF
$842.11
Lease Type
Double Net
Rent Per Square Feet
$48.00

Investment Highlights

  • World-Class Location – Strategically Situated Among Major Residential Neighborhoods and Local Shops
  • Strategically Located in the Middle of Maimonides Hospital's Campus | Leading 711-Bed Facility
  • One of the Last Remaining Independent Medical Parcels in a Heavily Concentrated Medical Area (See Page 11)
  • Maimonides Hospital has Acquired and Developed the Entire City Block Directly Across the Street |SightMD's Parcel is Key to Further Maimonides Expansion
  • More Than 169,000 Individuals Within a One-Mile Radius With an Average Household Income Exceeding $95,000 in a Three-Mile Radius
  • Brooklyn is the Most Populated Borough in New York City

Investment Overview

This SightMD offering is an opportunity to acquire a net-leased Eye Care Facility in one of the largest cities in the world. The asset is 100% leased to SightMD with approximately 10-years remaining on a new 10-year lease. The SightMD provides an investor with a prime New York City asset in the heart of Brooklyn with minimal landlord responsibilities. The asset features a best-in-class location that has operated as an eye-care facility for over a decade. The entire two-floor building features 4,800 square feet of interior space. The building consists of a basement level (1,700 SF) a first floor for medical use (1,700 SF) and a second floor for office space (1,400 SF). The annual rent is $230,400 ($19,200 monthly) and features three percent (3%) rental increases annually, an above market increase structure and strong hedge against inflation. The asset is conveniently located on the corner of 49th Street and 9th Avenue in Brooklyn and is in immediate proximity of Maimonides Hospital, a 711-Bed Facility. This corner parcel is essential to any further expansion of the Maimonides Hospital, please contact the listing agent for more details.

Exclusively Listed By

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