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Medical For Sale • 32,520 SF
| 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. |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Rochester Regional Health |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| 5 min | - | 2.4 mi | |
| Airport | Drive | Walk | Distance |
| Frederick Douglass/Greater Rochester International | 14 min | - | 7.4 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 150 |
| Type: | Surface |
| Included in Rent: | Yes |
