July 16, 2020 – Jeremy Black of Horvath & Tremblay has successfully completed the sale of WellNow Urgent Care in West Seneca, New York. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,097,000, a 6.93% cap rate.
WellNow Urgent Care is located at 1956 Ridge Road in West Seneca, New York. The stand-alone building was constructed in 2019 and is comprised of 3,500 square feet and on a 1.40-acre lot. WellNow Urgent Care has approximately 9.5 years remaining on a double net (NN) lease that has three, 5-year renewal options. The lease calls for 10% rent increases every five (5) years throughout the base term and option periods. The property is well located along Ridge Road with excellent area demographics including more than 175,000 people within a 5-mile radius and an average household income of more than $66,600.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.