303 Harford St Milford, PA 18337

Property Details for 303 Harford St

Year built

1990

Property size

10,700 SF

Property type

Medical offices

Description

This exceptional Class A medical office building presents a compelling investment opportunity. Located at 303 W Harford St, Milford, PA 18337, this fee-simple property boasts 10,700 square feet across two, two-story buildings. Currently 100% occupied by a highly accredited cosmetic dermatology surgery center under a single, long-term NNN lease expiring January 14, 2040, with a remaining term of 15 years and built-in 2.0% annual rent increases. The property features a strong net operating income (NOI) of $294,000, resulting in a 7.00% capitalization rate and a price per square foot of $392. The tenant, with over 38 years of experience and AAAHC accreditation for eight consecutive years, demonstrates financial stability and a strong local presence. Built in 1990 and renovated in 2019, this strategically located asset sits on the Pennsylvania-New Jersey border, offering convenient access via Interstate 84 and serving a highly affluent demographic with average incomes exceeding $98,000 annually within a 5-mile radius. The property's location within the New York metropolitan statistical area (MSA) provides access to a large and growing population base. This investment offers a stable, long-term cash flow with built-in protection against inflation, making it an attractive option for investors seeking a passive income stream in the thriving healthcare sector. The property's prime location and the tenant's strong financial performance contribute to its significant investment potential.