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WellNow 204 S Broadway 2,832 SF Retail Building Saratoga Springs, NY 12866 $3,398,138 ($1,199.91/SF) 6.50% Cap Rate
Investment Highlights
- Long Term Lease with Over 10 Years Remaining | WellNow is operating under a long-term 15-year lease, with over 10 years remaining
- Attractive Rental Increases Throughout Base Term and Options | Across the base term and three five-year option periods, scheduled 5% rent increases
- Limited Landlord Responsibilities | WellNow is subject to a double net lease, with the landlord responsible only for the roof and structural component
Executive Summary
Surmount is pleased to present the exclusive listing for a WellNow Urgent Care located at 204 S Broadway, Saratoga Springs, NY 12866. The site consists of roughly 2,832 rentable square feet of building space on an estimated 0.53-acre parcel of land. This WellNow Urgent Care is subject to a 15-year Double Net (NN) lease, which commenced 1/1/2021. The current annual rent is $220,879 and has scheduled increases of 5.00% every 5 years.
Property Facts
Sale Type
Investment
Property Type
Building Size
2,832 SF
Building Class
B
Year Built/Renovated
1993/2021
Price
$3,398,138
Price Per SF
$1,199.91
Cap Rate
6.50%
NOI
$220,879
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.53 AC
Zoning
T-5: Urban Transect 5 - To accommodate a wide variety of residential and non-residential uses, building and frontage types.
Parking
20 Spaces (7.33 Spaces per 1,000 SF Leased)
Frontage
40’ on Broadway Way
Amenities
- Pylon Sign
Walk Score®
Walker's Paradise (90)
Nearby Major Retailers
Property Taxes
| Parcel Number | 411501-165-083-0002-061-000-0000 | Improvements Assessment | $334,600 |
| Land Assessment | $465,400 | Total Assessment | $800,000 |
Property Taxes
Parcel Number
411501-165-083-0002-061-000-0000
Land Assessment
$465,400
Improvements Assessment
$334,600
Total Assessment
$800,000
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WellNow | 204 S Broadway
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