4 Ellinwood Dr New Hartford, NY 13413

The Costello Eye New Hartford facility presents an opportunity to acquire a stabilized, two-tenant medical outpatient asset. The property features long-term leases to Costello Eye Physicians & Surgeons, a leading ophthalmology group in the region, and A Health Medicine, a regionally dominant interventional pain management, pulmonology, and sleep medicine practice. This purpose-built medical facility, constructed in 2022, is strategically located in New Hartford, Oneida County, within the Central New York region. The building fronts Commercial Drive and has exposure to Route 840, providing high roadside visibility. It is situated adjacent to New Hartford Consumer Square, a major retail center with over 500,000 square feet of retail space, including a Walmart Supercenter. The facility is anchored by Costello Eye Physicians & Surgeons, serving patients across five New York counties through eight locations. The second tenant, A Health Medicine, offers complementary services. Both tenants have recently executed long-term leases. Costello Eye Physicians & Surgeons occupies the first floor, featuring a state-of-the-art ophthalmology clinic with a procedure room, diagnostic room, 14 exam rooms, and eight offices. The second floor houses a pain center with a full X-Ray suite, three procedure rooms, nine post-op rooms, and 12 exam rooms. The leases feature a weighted average lease term of 10.56 years and fixed rental increases averaging 2.75% annually.