Single-Tenant Ambulance
52-60 Cornell Street Kingston, NY 12401
52-60 Cornell Street, Kingston, NY, 12401
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For Sale
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Single-tenant NNN ambulance facility with corporate-guaranteed rent and CPI-or-3% escalators through June 2029.
Property Size3,360 SF
Price / SF$193.45
Days on Market87
Property Features for 52-60 Cornell Street
General Information
- Standard status
- Active
- Size
- 3,360 SF
- Property subtype
- Office, Industrial
Building Details
- Year Built
- 1998
Listing agency
McGrath Realty Inc Hopewell Junction
(845) 896-5444
Listed by
Ryan McGrath · License #NY 10401313731
Source
Crexi
Added: Apr 27 Updated: Jul 21 at 10:57PM Checked: Jul 22 at 11:50AM
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 McGrath Realty Inc Hopewell Junction
Investment Insights
Based on property information with market context.
This single-tenant NNN ambulance facility is offered on a corporate-guaranteed lease structure. The current First Renewal Term runs through June 2029, followed by one additional three-year option through June 2032. Rent is subject to CPI-or-3% escalators, and the landlord has issued the First Renewal Term amendment to the tenant under identical terms, with the corporate guaranty expressly extended; tenant execution is pending.
The property is located in Kingston and is the only Ulster County asset within a three-facility portfolio that includes additional properties in Newburgh and Middletown. The portfolio’s other addresses are 69 Dickson Street in Newburgh and 31-59 Peach Place in Middletown, with the option to acquire the assets individually or as a package.
The property is located in Kingston and is the only Ulster County asset within a three-facility portfolio that includes additional properties in Newburgh and Middletown. The portfolio’s other addresses are 69 Dickson Street in Newburgh and 31-59 Peach Place in Middletown, with the option to acquire the assets individually or as a package.
Key Highlights
- Single‑tenant NNN ambulance facility built in 1998
- Corporate‑guaranteed rent with CPI‑or‑3% escalators
- First Renewal Term runs through June 2029, with one additional 3‑year option through June 2032
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 | $112.9k | $33.60 |
| − Vacancy | −$14.3k | −$4.27 |
| EGI | $98.6k | $29.33 |
| − OpEx | −$39.4k | −$11.73 |
| NOI | $59.1k | $17.60 |
3,360 SF · lease $33.60/SF/yr · vacancy 12.70% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$844.8K
$739.2K – $985.6K
NOI $59,135 @ 7.0% cap · market cap 9.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$31.42M
$27.49M – $36.66M
NOI $2,199,535 @ 7.0% cap · market cap 338.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical centers
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Single-tenant NNN ambulance facility with corporate-guaranteed rent and CPI-or-3% escalators through June 2029.
Where is this nnn property located?
The property is located at 52-60 Cornell Street Kingston, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Single‑tenant NNN ambulance facility built in 1998; Corporate‑guaranteed rent with CPI‑or‑3% escalators; First Renewal Term runs through June 2029, with one additional 3‑year option through June 2032
