Property Overview
Address: 4383 NYS Route 23, Cairo, NY 12413
Lot Size: 2.4 Acres
Cross Street: Christina Rd
Market: Greene County
Sub Market: Cairo
DEAL OVERVIEW
The Challenge
Rural location for a medical office building. Three tenants all on month-to-month rental arrangement. Rents below market, but good tenants.
The Objective
Negotiate new modified NNN leases at market rates and minimum five year terms.
The Solution
Successful re-position with five year leases, one tenant left but existing tenant took over their space. Solid leases and good tenants created a good, financeable property for investor buyer. 12% Cap rate
