Rare Single-Tenant NNN Medical Office Building for Sale in the Bronx

Thursday, June 6, 2019

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing a 12,400-square-foot, Class A medical office building for sale in the Bronx, New York.  Redeveloped in 2019, the building is at 1888 Westchester Avenue and is 100% leased on a triple-net-lease basis to Zwanger-Pesiri Radiology under a 25-year firm lease with a full corporate guarantee.

Founded in 1953, Zwanger-Pesiri Radiology is the largest non-hospital provider of medical imaging and radiology services in New York and the 17th largest private radiology group in the United States. Zwanger-Pesiri conducted an exhaustive site selection process to identify the best site to execute on its mission to provide a comprehensive set of services to the community, conveniently under one roof.

The medical office building for sale offers excellent accessibility and connectivity via the Cross Bronx Expressway 95, the 6 train and the Westchester Avenue / Virginia Avenue bus station. 1888 Westchester Avenue sits within an extremely densely populated area, with 625,000 residents within a three-mile radius. For patients or physicians driving to the medical office property, the 38 on-site parking spaces are a very rare amenity that competing properties cannot offer.

Medical Office Building for Sale Investment Highlights

  • Significant capital investment of more than $4 million
  • Irreplaceable medical office location
  • 25-year NNN lease
  • Accretive contractual revenue growth
  • Largest private radiology practitioner in New York
  • State-of-the-art equipment

1888 Winchester Avenue represents a rare opportunity for an investor to acquire a single-tenant, newly redeveloped triple-net-leased medical office building in a prime New York outer borough location. For more information on this commercial property for sale or other available medical office properties in New York City or the surrounding areas, please Rob Rizzi, Ben Appel or Marc Mandel in HFF’s New York City and Philadelphia offices.

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