CityMD Urgent Care NNN Property Lease: Pros, Cons, and History

CityMD Urgent Care

Interested in selling your CityMD Urgent Care NNN property or CityMD Urgent Care ground lease property and wondering what you can get for it in today’s changing market?

Contact us for a complimentary broker opinion of value for your off-market CityMD Urgent Care NNN property for sale or CityMD Urgent Care ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your CityMD Urgent Care NNN property or the inclusion of a CityMD Urgent Care ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market CityMD Urgent Care properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.

Number of locations

As of 2024, CityMD operates approximately 135–150 urgent care centers across the United States. The vast majority of locations are concentrated in New York and New Jersey, making CityMD the largest urgent care provider in the New York metropolitan area.

Revenue and income

CityMD is a privately held company and does not publicly disclose detailed financial statements. However, industry estimates place annual revenue in the range of $1–1.5 billion, driven by high patient volumes in densely populated urban markets. The company treats over 2 million patients annually.

Future plans

CityMD plans to continue expanding within its core Northeast markets, particularly New York and New Jersey. The company has historically added 15–20 new locations per year, focusing on high-traffic urban and suburban corridors. CityMD is also investing in telehealth services, digital check-ins, and integrated care models through its alignment with Summit Health, enhancing continuity between urgent care, primary care, and specialty services.

Corporate vs. franchise

CityMD locations are 100% corporate-owned and operated. The company does not offer franchise opportunities, allowing it to maintain standardized clinical operations, branding, and patient experience across all centers.

Additional information – CityMD Urgent Care

CityMD was founded in 2010 in New York City by Dr. Richard Park and a group of physicians.
The company focuses on walk-in urgent care services, treating non-life-threatening illnesses and injuries with extended hours and no appointment requirement.
CityMD is known for its hospital-affiliated model, offering on-site X-rays, lab testing, vaccinations, and referrals to specialists when needed.
CityMD is privately held and operates under the broader Summit Health / VillageMD platform, with private equity backing from Warburg Pincus. Its headquarters are located in New York, New York.

CityMD Urgent Care History

CityMD Urgent Care was founded in 2010 in New York City by emergency physician Dr. Richard Park, with the goal of providing fast, accessible, and high-quality medical care for non-life-threatening conditions. The first CityMD location opened in Manhattan, introducing a modern urgent care model that combined walk-in convenience with hospital-level clinical standards, including on-site X-rays, lab testing, and extended hours.

As demand for convenient healthcare grew, CityMD expanded rapidly throughout New York City, Long Island, and New Jersey, becoming the largest urgent care provider in the New York metropolitan area. Its focus on physician-led care, consistent patient experience, and strategic placement in high-density urban markets fueled steady growth.

In 2019, CityMD merged with Summit Medical Group, forming Summit Health, which strengthened its integrated care model by connecting urgent care with primary and specialty services. The organization later aligned with VillageMD, further enhancing care coordination and technology-driven healthcare delivery.

Today, CityMD is a leading urgent care brand in the Northeast, known for its patient-centered approach, clinical quality, and role as a critical access point within the broader healthcare system.

Why Invest in Ground Lease and NNN Lease of CityMD Urgent Care?

Investing in CityMD Urgent Care ground lease and triple net (NNN) lease properties offers attractive opportunities for investors seeking stability in the healthcare real estate sector:

1) CityMD NNN Property Investment: Recession-resistant income

Healthcare services are considered essential, making urgent care facilities less sensitive to economic downturns. CityMD locations typically generate consistent patient traffic, supporting reliable and predictable rental income under long-term ground or NNN leases.

2) CityMD NNN Property Investment: Strong and established tenant

CityMD is one of the largest urgent care providers in the Northeast, with a dominant presence in New York and New Jersey. Its strong brand recognition, physician-led operations, and backing through the Summit Health / VillageMD platform reduce tenant risk and support long-term lease performance.

3) CityMD NNN Property Investment: Minimal management responsibility

Under NNN and ground lease structures, CityMD is responsible for property taxes, insurance, maintenance, and operational expenses. This significantly reduces landlord involvement, making the investment ideal for passive investors.

4) CityMD NNN Property Investment: Favorable long-term lease terms

CityMD urgent care properties are commonly secured by long-term leases (10–20+ years) with built-in rent escalations, offering predictable income growth and inflation protection over time.

5) CityMD NNN Property Investment: Strategic healthcare real estate value

CityMD centers are typically located in dense urban and high-traffic suburban corridors, near residential communities and major roadways. These strategic locations enhance the long-term value and liquidity of the real estate, providing potential capital appreciation in addition to steady income.

Pros and Cons of CityMD Urgent Care Ground Lease and NNN Lease Investment

Pros:

Stable income supported by essential healthcare services and consistent patient demand.
Established and reputable tenant with a strong regional presence in New York and New Jersey.
Minimal management responsibility, as CityMD typically covers taxes, insurance, and maintenance under NNN and ground leases.
Long lease terms provide income stability and potential rental growth through built-in escalations.

Cons:

Lease renewal risk exists at the end of the lease term.
Investment performance depends on CityMD’s operational success and healthcare reimbursement environment.
Competition within the urgent care sector and regulatory changes may impact tenant profitability.
Limited landlord control over property and operational decisions during the lease term.
Market and location risks remain inherent in healthcare real estate investments.

Thorough due diligence on lease structure, location quality, tenant strength, and healthcare market trends is essential, and investors should consult real estate and financial professionals to align with their investment goals and risk tolerance.

MarketWatch: CityMD Urgent Care