619 Somerset St | Somerset, NJ 08873
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- LoopNet Team
619 Somerset St
Somerset, NJ 08873
Absolute NNN Lease | 2.5% Annual Bumps · Specialty Property For Sale
·
3,500 SF
INVESTMENT HIGHLIGHTS
- RECESSION RESISTANT ASSET CLASS: Healthcare properties are sought after for their resistance to recessions
- CORPORATE GUARANTEE: CityMD received an increase in the size of their guarantee in Nov 2022 when VillageMD announced an agreement to acquire CityMD
- 180+ LOCATIONS: Founded in 2010, CityMD is the largest urgent care provider in the New York metro area
- $75.1B URGENT CARE MARKET: U.S. Urgent Care Centers Market size was valued at around $75.1 billion in 2023
- ABSOLUTE NNN LEASE: CityMD in Woodbridge offers a rare Absolute NNN Lease with 2.5% annual rental increases throughout the term
- QUICK TURNAROUND TIMES: Per the Urgent Care Association, it took one hour less for around 97% of patients to meet providers
PROPERTY FACTS
| Property Type | Specialty | Building Size | 3,500 SF |
| Property Subtype | Self-Storage | No. Stories | 1 |
| Building Class | B | Year Built | 2025 |
| Lot Size | 2.09 AC | ||
| Zoning | CB - Commercial Business | ||
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.09 AC |
| Building Size | 3,500 SF |
| No. Stories | 1 |
| Year Built | 2025 |
| Zoning | CB - Commercial Business |
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 08-00163-0000-00001 | Improvements Assessment | $18,500,000 |
| Land Assessment | $4,000,000 | Total Assessment | $22,500,000 |
PROPERTY TAXES
Parcel Number
08-00163-0000-00001
Land Assessment
$4,000,000
Improvements Assessment
$18,500,000
Total Assessment
$22,500,000
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