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    Monroe Medical Investment Opportunity Title is generated by Realmo AI

    503-505 State Rte 208, Monroe, NY

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    Fully leased medical property with established tenant and long-term lease.

    Type:OFFICE
    Property size:
    10,900 SF
    Lot size:
    18.70 Acres
    Price / SF:
    $252/SF
    Added:
    Dec 30, 2024
    Days on Market:
    531
    Last Refresh:
    May 20 at 8:41 pm

    Property Features for 503-505 State Rte 208

    General Information

    Standard status
    Active
    Size
    10,900 SF
    Lot size
    18.70 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Jay Himelson
    Jay Himelson

    Listing agent Jay Himelson

    Listing office Rand Commercial - Orange County

    Listing date Dec 30, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Rand Commercial - Orange County

    HighLights

    • Fully leased triple net (NNN) investment property, providing a passive income stream.
    • Tenant is Hudson Valley Radiology of RadNet Inc, a national leader in medical imaging, ensuring reliable tenancy.
    • Located at 505 Route 208, Monroe, NY, offering a strategic and accessible location.
    • Property is located across the street from Rt 17/86 entrance, providing excellent visibility and accessibility.
    • 8 years remaining on the current lease, offering a substantial period of guaranteed income.
    • Property backs up to a picturesque lake, enhancing its appeal.

    Overview

    An investment property located at 505 Route 208, Monroe, NY, is available for acquisition. The property is fully leased on a triple net (NNN) basis. The tenant is Hudson Valley Radiology of RadNet Inc, a medical imaging company. The property is located across the street from the Route 17/86 entrance and backs up to a lake. The property has 10,900 square feet of space. There are 8 years remaining on the lease.

    Local Financial Insights For Healthcare Medical

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $366.2k $33.60
    − Vacancy −$43.2k −$3.96
    EGI $323.0k $29.64
    − OpEx −$129.2k −$11.85
    NOI $193.8k $17.78
    10,900 SF · lease $33.60/SF/yr · vacancy 11.80% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $2.77M
    $2.42M – $3.23M (±1% cap)
    NOI $193,814 @ 7.0% cap · market cap 7.05%
    Second Best
    Office B
    $2.61M
    $2.28M – $3.04M (±1% cap)
    NOI $182,388 @ 7.0% cap · market cap 6.63%
    Theoretical Best
    Office A
    $3.69M
    $3.23M – $4.31M (±1% cap)
    NOI $258,419 @ 7.0% cap · market cap 9.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Orange
    State
    New York
    Longitude
    -74.1904
    Latitude
    41.3469

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    FAQs

    What type of property is this?
    Medical Office Space - Fully leased medical property with established tenant and long-term lease.
    Where is this medical office space located?
    The property is located at 503-505 State Rte 208 Monroe, NY.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Fully leased triple net (NNN) investment property, providing a passive income stream.; Tenant is Hudson Valley Radiology of RadNet Inc, a national leader in medical imaging, ensuring reliable tenancy.; Located at 505 Route 208, Monroe, NY, offering a strategic and accessible location.
    (845) 222-0147 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jay Himelson
    Jay Himelson
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