Fortune 125 Insurance Company
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| LTV (Loan to Value) | 0.00% | Current NOI | |
| Interest Rate | 0.000% | Cap Rate | 0.000% |
| Fixed Term | +/- 4 Years Years | Land Area | |
| Amortization | Years | Lease Type | |
| Loan Amount | Property Type | ||
| Payment | Property Lease | ||
| Building Size | Remaining Terms |
Location Description
New Hartford is a suburb of Utica, New York. The population of Utica was 62,235 per the 2010 census. New Hartford is the largest suburb of Utica, which is located directly north of the town and village. New Hartford has experienced heavy commercial growth in the past several years and is now considered the commercial center of the Utica-Rome shopping area. The majority of growth has been on the west end of the town bordering Whitesboro and Kirkland. The south and east sides of town are largely suburban and are becoming increasingly populated. Strategically located in Oneida County (within the heart of the Mohawk Valley) & within 500 miles of 17 of the top 50 U.S. markets, the city of Utica has many attributes that make it an ideal location for businesses and raising a family.Highlights
Fortune 125 Tenant – The tenant is a leading insurance provider and has a credit rating of A by S&P.Class-A Office Facility – The property consists of a +/- 122,760 SF facility on a +/- 13.52 acre campus. The modern office building was a built in November, 2008 and houses approximately 675 employees.Value-Add Opportunity - The building can be easily converted to a multi-tenant facility with expansion potential of +/- 50,000 SF. There is also the possibility for an outparcel opportunity. Excellent Business-Friendly Incentives - The property benefits from a Tax exemption (1/3 reduction in tax rate), a sales tax exemption, and an employment guarantee. Strong Market and Location - The property is located in a suburban area with strong per capita income (approximately $74,000) with excellent highway access and is within driving distance to 17 of the top 50 U.S. markets.Attractive Lease with Below Market Rent - The NN Lease has over four (4) years remaining with two (2), five (5) year options. The rent of is competitive with rental rates for the local market and well below rates of adjacent markets.NOI - The NOI is +/-$1,717,412 (effective 12/1/2014)NNN Loans Funding
Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.