14 Vista BlvdSlingerlands, NY 12159

Property Details for 14 Vista Blvd

Year built

2012

Lot size

1.92 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,496,703

  6.5%

  $1,381,572

  7%

  $1,282,889

• Comparable approach

  Method

  Valuation

  Relative Method

  $792,518

  Geo Method

  $787,226

• Alternative Use

  Use

  Valuation

  Residential

  $1,713,150

  Hospitality

  $1,569,236

  Educational

  $1,305,586

  Medical

  $1,350,487

  Retail

  $2,030,911

Location Insight

City

Slingerlands

County

Albany

State

New York

Latitude

42.6398

Longitude

-73.8614

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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