649 Boston Post Rd Mamaroneck, NY 10543-3459

Property Details for 649 Boston Post Rd

Year built

1940

Lot size

0.24 lot acres

Property size

4,852 SF

Zone code

C1

Property type

Specialty properties

APN

553203 9-20-439

APU

553203920439

Description

This exceptional investment opportunity presents a 7,876 square foot medical office building in Mamaroneck, New York, currently operating as the Mamaroneck Veterinary Hospital. Located on a 0.24-acre lot at 649 W Boston Post Rd, 10543, this property boasts excellent visibility and accessibility on a busy thoroughfare within a high-income area. The building, constructed in 1940 and renovated in 2000, is fully occupied under a triple-net (NNN) lease with PetVet Care Centers, a leading national veterinary operator with over 450 locations. The lease, commenced June 15, 2021, has a remaining term of approximately 6.6 years, with two 5-year renewal options. The lease includes a 2% annual rental escalation, providing a built-in hedge against inflation. The property generates a substantial net operating income (NOI) of $228,159, resulting in a compelling 6.81% capitalization rate. The asking price is $3,350,000, translating to $425.34 per square foot. This investment offers a stable, long-term income stream backed by a financially strong tenant and situated in a desirable, affluent market. Ample parking is available on-site. The property benefits from the financial stability and growth trajectory of PetVet, a top 5 national veterinary chain, and its private equity partner, KKR. This presents a rare opportunity to acquire a high-performing asset in a prime location with significant upside potential.

Location Insight

City

Mamaroneck

County

Westchester

State

New York

Longitude

-73.7392

Latitude

40.9434

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments