$7,060,000 USD
630-854-9717
370 E Ridge Rd
Rochester, NY 14621
Outer Irondequoit
HIGHLIGHTS
- STRATEGIC LOCATION: Situated within a prominent retail corridor, the property lies less than two miles from the 528-bed flagship Rochester General.
- ATTRACTIVE DEMOGRAPHICS: Within a 5-mile radius of the property the population is 313,859, thus providing a strong patient base.
- CORPORATE GUARANTEE: The lease is guaranteed by Rochester General Hospital, Inc. Rochester Regional Health holds a BBB+ credit rating.
- VALUE-ADD OPPORTUNITY: Rochester Regional Health Intends to relocate, but will likely need to execute a short-term renewal.
- FAVORABLE LEASE STRUCTURE: The property is subject to triple-net(NNN) leases under which the tenant is responsible for all operating expenses.
- ATTRACTIVE COST BASIS: Offered at an 8.75% going-in cap rate, the asset is priced at $7.06M, or approximately $200/ppsf, well below replacement cost.
FOR SALE DETAILS
PRICE
$7,060,000 USD
PRICE/SF
$221 USD /SF
CAP RATE
8.75%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Rochester Regional | 2% Co-Broker Fee ($141K)
PROPERTY TYPE
Office
PROPERTY SUBTYPE
Medical
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
B
YEAR BUILT
2005
SPRINKLERS
-
PARKING SPACES
150
LAND DETAILS
LAND ACRES
3.8 AC
LAND SF
165,528 SF
ZONING
05
APN/PARCEL ID
263400-091-060-0005-037-100
ASK ABOUT THIS PROPERTY
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630-854-9717
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630-854-9717
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