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Wellnow Urgent Care 11 Maple Ave 3,515 SF Retail Building Catskill, NY 12414 $2,021,126 ($575.00/SF) 8% Cap Rate

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INVESTMENT HIGHLIGHTS

Attractive Rent Increasaes
Minimal Landlord Responsibilties
Recession & E-Commerce Resistant Tenant

Dynamic Tenant
Strategic Retail Location
High Traffic Counts

EXECUTIVE SUMMARY

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the stand-alone WellNow Urgent Care investment property located at 11 Maple Avenue in Catskill, New York (the “Property”). WellNow has 6+ years remaining on their 10-year lease with two (2), 5-year renewal options. The lease includes attractive 10% rental increases every five years throughout the initial term and renewal option periods. WellNow is strategically located adjacent to the signalized intersection of W Bridge Street (NY Route 385) and US Route 9W, the area’s primary retail and commuter corridor. The site offers access from the traffic light, excellent visibility and frontage and is situated in the commercial center of the city, surrounded by the area’s national retailers and is just minutes from the Catskill Schools (Elementary, Middle and High Schools). The Property is 1.2-miles from NY Route 23 and 3-miles from Interstate 87. Catskill is located in eastern New York State, approximately halfway between Albany (33-miles to the north) and Poughkeepsie (42-miles to the south) along the banks of the Hudson River.

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

3,515 SF

Year Built

2022

Price

$2,021,126

Price Per SF

$575.00

Cap Rate

NOI

$161,690

Tenancy

Single

Building Height

1 Story

Building FAR

0.14

Lot Size

0.57 AC

Opportunity Zone

Yes

Zoning

02 - SINGL

MAJOR TENANTS

Health Care and Social Assistance
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WellNow Urgent Care is one of the fastest-growing providers of urgent medical care, telehealth and occupational medicine services in the United States, with more than 150 centers across Illinois, Indiana, Michigan, New York and Pennsylvania. WellNow was founded as Five Star Urgent Care in 2012 by Dr. John Radford, who sought to provide communities with the kind of quality, walk-in care he saw was lacking when he served as an ER doctor. Patients quickly appreciated this new addition to their healthcare options, and the company continued to grow over the next few years. In 2018, Five Star Urgent Care rebranded as WellNow Urgent Care to better reflect its mission of offering quick, convenient and quality care for non-life-threatening injuries and illnesses.