City MD | Rare Fairfield County | 2024 Construction
Fairfield, CT
Key Details
| Price: | $3,913,043 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $225,000 |
| Address: | 320 Kings Highway East, Fairfield, Connecticut 06825 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/30/2024 |
| Lease Expiration: | 9/30/2034 |
| Lease Term Remaining: | 9.9 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.31 Acres |
| Building Size: | 6,568 SF |
| Year Built: | 2003 |
| Year Renovated: | 2024 |
NNN Pro is pleased to present the exclusive listing for a City MD | Rare Fairfield County | 2024 Construction located at 320 Kings Highway East, Fairfield, Connecticut 06825. The site consists of roughly 6568 rentable square feet of building space on an estimated 0.31-acre parcel of land. This City MD | Rare Fairfield County | 2024 Construction is subject to a 10-year Triple Net (NNN) lease, which commenced 9/30/2024. The current annual rent is $225,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Absolute Triple-Net (NNN) Investment There are zero landlord responsibilities on this lease, making it an extremely passive investment.
- Brand New 10-Year Lease with Full Corporate Guarantee CityMD just signed a brand new 10-year lease at this location. The corporate entity guarantees the full term and has over 150 locations across New York and New Jersey. CityMD is the largest urgent care company in the New York Metropolitan area.
- Brand New 2024 Construction with Attractive Rental Increaes This is brand new state of the art buildout for CityMD, with a new lease featuring attractive rental increases. There are 10% rental increases every 5-years, providing a strong hedge against inflation.
- Ideal Location for an Urgent Care Concept | Phenomenal Population Density and Income Levels The surrounding area boasts well above average household income figures and is very densely populated with over 247,000 residents in a five mile radius with an AHHI of $101,650 . CityMD is very well positioned within this market to take advantage of the above average income levels as well as the strong population density.
Key Details
| Price: | $3,913,043 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $225,000 |
| Address: | 320 Kings Highway East, Fairfield, Connecticut 06825 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/30/2024 |
| Lease Expiration: | 9/30/2034 |
| Lease Term Remaining: | 9.9 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.31 Acres |
| Building Size: | 6,568 SF |
| Year Built: | 2003 |
| Year Renovated: | 2024 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Richard Nardi
rnardi@nnnpro.com
License: NY: 10401294015
Stewart Hickey
shickey@nnnpro.com
License: NY: 10401370869
Broker of Record
Brian Brockman
Bang Realty-New England, Inc
License: REB.0792373
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.