Fresenius - Bronx, NY

Asset Type

Retail

Address
3160 Webster Ave Bronx, NY United States 10467-4902
Asking Price

S$11,100,000

Sq Footage

10,000

Year Built

2018

Cap Rate

5.56%

Additional Attributes
Current / Passing Rent S$616,500
Escalations 2% annual
Guarantor Fresenius Medical Care AG & Company KGaA
Lease Commencement 2019-06-01
Lease Expiration 2033-12-31
Lease Type NNN
Options 3, 5-year options
Tenant New York Dialysis Services, Inc.

Property Description

Single tenant retail condo opportunity for sale in The Bedford, a newly constructed 60-unit residential building in the Bronx. Located on the ground level along Webster Avenue, one of the longest thoroughfares in the Bronx. Property is leased to New York Dialysis Services, Inc. d/b/a Fresenius Medical Care on a brand new 15-year term with 2% annual increases starting in year 3. Neighboring tenants include Bedford Park Elementary School, Fordham University, James J. Peters VA Medical Center, Montefiore Medical Center and Manhattan College. Close proximity to the 205th Street subway station. This offering represents an exceptional opportunity to acquire a valuable property, with strong lease fundamentals, leased to an investment-grade tenant.

Investment Highlights

  • Fee simple interest
  • Single tenant retail condo in newly constructed 60-unit residential building in the Bronx
  • Brand new 15-year lease with 2 % annual increases starting in year 3
  • Tenant has corporate guarantee from Fresenius Medical Care
Listing Contacts
Peter Furest
Peter Furest
SVP, Capital Markets
+65 3159 4021
NY - 10401232530
Alex Sands
Alex Sands
Analyst
+65 3159 4021
NY - 10401280495
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