14 Vis Blvd Slingerlands, NY 12159-2184

Property Details for 14 Vis Blvd

Year built

2012

Lot size

1.92 lot acres

Property size

6,025 SF

Zone code

MED

Property type

Office buildings

APN

012200 74.00-1-29.23

APU

12200740012923

Description

This exceptional investment opportunity presents a single-tenant, 6,000 square foot medical office building located in Slingerlands, NY (Albany MSA), on a 1.92-acre lot. The property, built in 2007, is a one-story building boasting 100% occupancy with a strong corporate tenant, Community Care Physicians (CCP), the largest independent multi-specialty medical group in the Capital Region. The modified gross lease, featuring a 1% annual rent bump, has a remaining term of 3.6 years with a 5-year option. The current annual net operating income (NOI) is $131,978, resulting in a 7.85% capitalization rate. The asking price is $1,680,000. The lease commenced February 18, 2013, and expires March 31, 2028. The property enjoys a superior location on Vista Blvd (11,000 vehicles per day), near various retail, restaurants, and other medical practices. The surrounding area demonstrates exceptional demographics, with a 5-mile radius population exceeding 130,000 and an average household income over $197,000 within a 1-mile radius. This presents a compelling investment in a high-demand medical market with significant growth potential. The tenant's financial strength is further secured by a corporate guarantee. The property benefits from the challenging regulatory environment for new medical facilities in New York State.