We buy Medical Office Buildings

Fast closings. No contingencies. No hassle.
Within 250 miles of Boston.
$500K to $3M.
Seller financing preferred.

We respond within 24 hours. If it fits our criteria, we request a rent roll and T-12 NOI to move forward.

What We Buy

Medical Office Buildings

Within 250 miles of Boston, MA
$500,000 to $3,000,000 purchase price
80% or more leased
8% or higher cap rate
10% or higher year one cash on cash
Seller financing preferred

Common Red Flags | Deal Killers

Built before 1980
Anchor tenant leases with at least 2 years remaining
Cap rate below 8% with no value-add pathway
Major structural issues or full redevelopment projects

How it Works

1. Submit the property2. We review within 48 hours3. If it fits, we request documents and share next steps

Broker & Investor Criteria | ONP Properties
Broker & Investor Reference

Investment Criteria & Return Thresholds

ONP Properties acquires income-producing commercial assets in New England. We underwrite every deal from the rent roll up and close with conviction when the numbers work.

Target Asset Types
Primary
Medical Office Buildings
Primary
Industrial / Flex
Secondary
Multi-Tenant Office
Lease Structure
NNN preferred. Gross leases considered with verified expense history.
Occupancy at Purchase
60% or higher at acquisition. 90%+ stabilized target.
Value-Add Profile
Lease-up, light renovation, or mismanaged asset with a clear stabilization path within 12–24 months.
Geography & Size
Primary Markets
Massachusetts, Connecticut
Secondary Markets
New York (suburban), Rhode Island
Building Size
5,000 – 30,000 SF
Purchase Price
$500,000 – $3,500,000
Return Thresholds
MetricMinimumTargetNotes
Cash-on-Cash Return8%10 – 12%At stabilized occupancy on equity deployed
DSCR1.25x1.35x+Must clear at current NOI, not pro forma
Cap Rate (going-in)7.0%8.0%+Verified from rent roll, not seller-stated
Equity Multiple1.5x1.8 – 2.2x5-year hold, all-in project cost basis
Profit Margin vs. ASV20%25%+Spread between MACO and acquisition cost
Equity Raise per Deal$300K$300K – $1.2MLP capital per transaction, 5-year hold horizon
Automatic Disqualifiers
×Anchor lease under 2 years with no extension option
×Single-tenant, single-purpose asset in a declining industry
×Asking price more than 15% above our MACO
×Environmental liability without seller credit
×Seller NOI not supported by an actual rent roll
×DSCR below 1.10 at current occupancy with no stabilization path

Have a property that fits?

Send us the OM and rent roll. We underwrite independently and respond with a written analysis within 5 business days.

Submit a Property