Auburn, NY - Associated Medical Professionals

192 Genesee Street, Syracuse, NY

$797,000

Price

7%

Cap Rate

$55,751

NOI

Overview
Cap Rate
7%
NOI
$55,751
Building Size
4,264 sqft
Occupancy
100%
Year Built
2000
Description

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in a single tenant, net leased, corporate guaranteed, Associated Medical Professionals (AMP) investment property located in Auburn, NY. The tenant, Associated Medical Professionals of NY, PLLC, has approximately 12.5 years remaining with 1 (5-Year) option to extend. The lease features 1% annual increases starting in September 2021, generating NOI growth. The lease is NN with landlord responsible for structure and roof replacement.

AMP is a multi-specialty medical practice based in Syracuse, New York. The practice, was established in 2008 with the objective of providing integrated clinical services to patients with the highest level of quality care. Since its inception, the practice has grown to 10 locations with more than 350 employees. Additionally, the practice serves approximately 133,000 patients each year.

AMP is located along Genesee St (10,400 cars per day) and is located within downtown Auburn, a hub of business activity, entertainment, street festivals, and special events. Nearby national/credit tenants include Kohl’s, Dick’s Sporting Goods, The Home Depot, Wegmans, Bass Pro Shops, and more, which increases consumer trade to the immediate trade area. A population of 38,000 residents with an average household income of nearly $70,000 supports the 5-mile trade area.


Location
Gallery