351 Main StFreeport, NY 11520

For Sale
$3,322,870

DaVita-Leased, NNN, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
94
This Freeport, NY medical office building offers a compelling investment opportunity. The 7,360 square foot, two-story building is 100% occupied by DaVita Kidney Care under a NNN lease with a corporate guarantee. The current lease has approximately 4.4 years remaining, with three, five-year renewal options and annual rent increases. The property boasts a strong 5.75% cap rate (5.89% pro-forma) and a substantial NOI of $191,065 ($195,824 pro-forma). Built in 2001, the building sits on a 22,072 square foot lot and includes 45 parking spaces. Conveniently located at 351 S Main St, Freeport, NY 11520, it's minutes from the Freeport LIRR station and JFK International Airport. The property is zoned for Marine Industries and presents a stable, high-return investment with a long-term tenant. The asking price is $3,322,870, translating to $451.48 per square foot. This is a fee simple ownership opportunity with a proven track record of occupancy since March 19, 2014.

Highlights

  • $3,322,870 asking price for a 7,360 SF medical office building.
  • NNN lease to DaVita Kidney Care with a corporate guarantee.
  • 4.4 years remaining on the initial 5-year lease, with three 5-year renewal options.
  • Annual rent increases throughout the lease term and renewal options.
  • 5.75% cap rate, 5.89% pro-forma cap rate; $191,065 NOI, $195,824 pro-forma NOI.
  • Located at 351 S Main St, Freeport, NY, on a 22,072 SF lot with 45 parking spaces.

Property Details for 351 Main St

Property type
Other office properties, Medical offices
Square Feet
7,360 SF
Year Built
2001
Buildings
1
Stories
2

Location Insight

City
Freeport
County
Nassau
State
New York
Latitude
40.647922993409
Longitude
-73.575922981272
351 Main St, Freeport, New York

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351 Main St
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