45-49 Foster RdHopewell Junction, NY 12533

Property Details for 45-49 Foster Rd

Year built

2006

Lot size

2.84 AC

Property size (Sq ft)

5,500 SF

Zone code

B1

Property type

Office buildings

APN

132800 6458-04-659005-0000

APU

9223372036854775807

Description

This exceptional investment opportunity presents a fully leased, 13,517 square-foot medical office park situated on 2.06 acres in Hopewell Junction, New York. The property, built in 2006 and comprised of two, two-story buildings, boasts a Class B rating and is currently 100% occupied. Anchored by Community Primary Care, a division of the regionally dominant Premier Medical Group, the property benefits from a strong tenant profile including DaVita, Fresenius Kidney Care, and other healthcare providers. The current lease, a modified gross lease with a corporate guarantee, features a remaining term of 6.9 years (commencing October 1, 2021, and expiring September 30, 2031) and includes a favorable 3.0% annual rent escalation. The property generates a substantial net operating income (NOI) of $444,404, resulting in a compelling 7.25% capitalization rate. The asking price is $6,130,000, translating to $453.50 per square foot. Located on Foster Road in Dutchess County, the property enjoys convenient access to major roadways and is strategically positioned within a thriving healthcare market, proximate to significant medical facilities including Vassar Brothers Medical Center and Mid-Hudson Regional Hospital. The property also offers potential for future redevelopment of an existing 1,340 square-foot residential structure on the site. This presents a rare opportunity to acquire a stable, high-performing medical office asset with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,003,253

  6.5%

  $926,080

  7%

  $859,931

• Comparable approach

  Method

  Valuation

  Relative Method

  $719,600

  Geo Method

  $718,630

• Alternative Use

  Use

  Valuation

  Residential

  $1,148,339

  Hospitality

  $1,051,872

  Educational

  $875,146

  Medical

  $905,243

  Retail

  $1,361,338

Location Insight

City

Hopewell Junction

County

Dutchess

State

New York

Latitude

41.5908

Longitude

-73.797

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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