For Sale
$650,000

2115 Chili Ave Rochester, NY 14624

Net-leased medical office, strong tenant

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
Exceptional investment opportunity: a 3,720 sq ft Class B medical office building in Rochester, NY, currently 100% occupied by Rochester Regional Health under a Net Lease agreement with a corporate guarantee. The single-story building, situated on a 0.51-acre lot at 2115 Chili Ave (262600-134.11-2-52.1 APN), boasts 24 parking spaces. Built in 1980 and extensively renovated in 2022, the property features a 4.6-year remaining lease term (expiring June 30, 2029) with a 3-year lease option. The current lease commenced June 25, 2014. The property offers a compelling 9.00% cap rate and a Pro-Forma NOI of $58,813, with an asking price of $650,000 ($175/sq ft). The Non-Residential Office Bldg zoning ensures future flexibility. This is a rare opportunity to acquire a stable, net-leased medical office building with a strong, long-term tenant in a desirable location.

Highlights

  • Strong, creditworthy tenant Rochester Regional Health occupies the space since 2014, recently extending their lease through June 30, 2029.
  • The property underwent a complete interior renovation in 2021.

Property Details for 2115 Chili Ave

Property type
Office properties, Medical offices
Square Feet
3,720 SF
Class
B
Year Built/Renovated
1980/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
22,216 SF
Units
1

Location Insight

City
Rochester
County
Monroe
State
New York
Latitude
43.130139
Longitude
-77.6899942

FAQs

What type of property is this?
Office property - Net-leased medical office, strong tenant
Where is the office property located?
The property is located at 2115 Chili Ave Rochester, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Strong, creditworthy tenant Rochester Regional Health occupies the space since 2014, recently extending their lease through June 30, 2029.; The property underwent a complete interior renovation in 2021.;
How can I contact the broker?
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2115 Chili Ave
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