Medical Office Building with Two Long Term Tenants

Properties Sold

Great Neck Medical Office Building

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Namdar- Great Neck- PCA 2
Appraisal 173 East Shore Rd, LLC 173 East Shore Rd, Great Neck, NY 1
Namdar- Great Neck- PCA 3
Appraisal 173 East Shore Rd, LLC 173 East Shore Rd, Great Neck, NY- SVS
TWO TENANT MEDICAL OFFICE BUILDING
173 East Shore Rd., Great Neck, NY 11023

PRICE $4,275,000
GLA 8,795 SF
PROPERTY TYPE Office Building
CAP RATE 4.6%
OCCUPANCY 100%
YEAR BUILT 1992
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OFFERING MEMORANDUM
FLYER

BRANDON HAKIMI
brandon@namdarllc.com
DIRECT: 516.773.0080
OFFICE: 516.773.0010
DEMOGRAPHICS
Total Population
1 – mi. – 14,985
3 – mi. – 124,614
5 – mi. – 429,039
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Stable Investment – Medical Building with 100% Occupancy – Two Medical Tenants (Pediatrician and Dentist) both of whom have been in place for over 20 years and recently signed 10 year extensions. – Pediatrician paid for their own build-out indicating their commitment to their space. – High demand for medical space with a low supply of available space in the area. – Both Tenants have 2.5% annual rent increases.
  • Located in the upscale town of Manhasset within the town of North Hempstead, the property is well located in western Nassau County
  • Located a quarter mile north of North Shore Hospital and a 1/4 mile east of the heart of the Town of Great Neck
  • Minimal Landlord Responsibilities
  • Excellent Demographics
  • Located a couple of minutes from both the Manhasset and Great Neck train stations
  • 20 minutes from LaGuardia Airport, the property has direct access to the LIE, the Northern State Parkway (Grand Central Pkwy), and the Cross Island Parkway

City:Great Neck
State:NY
Square Feet:8,795 SF
Price:$4,275,000
Cap Rate:4.6%

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