Asking Price Contact for pricing
Sq. Footage 12,400
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2019

Property Description

12,400 square foot, single-tenant, 25 year lease, newly redeveloped, NNN medical office building 100% occupied by Zwanger-Pesiri.

Investment Highlights

Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained on an exclusive basis to arrange the sale of a 12,400 square foot property at 1888 Westchester Avenue (the “Property”) currently 100% NNN leased to Zwanger-Pesiri Radiology Group for 25 years (05/01/2019 rent commencement) with 10% rent increases in years 6, 16, and 21, and 8.5% in year 11. Zwanger-Pesiri, founded over 65 years ago in 1953, is the largest provider of medical imaging and radiology services on Long Island and currently has 29 locations and an affiliation with Catholic Health Services. The tenant has made a significant investment to fully build out the space. Additionally, the Property offers excellent accessibility via the 6 train, the Westchester Av/Virginia Av bus stop, and the I-95, which are all proximate to the Property. This brand new redevelopment that boasts a 28,576 square foot lot size, 57,152 buildable square feet, and 38 parking spaces, represents the opportunity acquire a stable long-term cash flowing asset, NNN leased to a highly regarded medical tenant, in an exceptional and accessible location.
Rob Rizzi
Rob Rizzi
Managing Director
Ben Appel
Ben Appel
Managing Director

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