Turnkey Medical Office For
For Sale
$379,900
Pending
200 Northern Drive, Troy, NY 12182
Well-maintained medical office in a thriving community with ample parking.
Property Size3,024 SF
Lot Size0.78 Acres
Days on Market530
Property Features for 200 Northern Drive
General Information
Standard status
Pending
Size
3,024 SF
Lot size
0.78 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,029
Amenities
Central air
Central Air Cooling
Natural Gas Heating
Rubber Roof
Building Details
Year Built
1980
Listing Agency:
BERKSHIRE HATHAWAY HOME SERVICES BLAKE
(518) 464-0870
Listed By:
JESSE D TRANVAAG · License #10401336671
Source:
Corcoran
Added: Feb 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY HOME SERVICES BLAKE
Investment Insights
Based on property information with market context.
This well-maintained medical office is suitable for healthcare providers seeking to establish or expand their practice. The property offers ample parking and convenient access for patients. The property size is 3024 square feet.
Key Highlights
- Turnkey medical office ready for immediate use.
- Ideal for establishing or expanding a healthcare practice.
- Ample parking for patients and staff.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,356
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,120
$667.1K
Cap Rate 7%
$476,514
$476.5K
Cap Rate 9%
$370,622
$370.6K
Market Conditions
NOI Build-Up for 3,024 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.3K $19.62/SF
− Vacancy
−$3.7K −$1.24/SF
EGI
$55.6K $18.38/SF
− OpEx
−$22.2K −$7.35/SF
NOI
$33.4K $11.03/SF
Area
Albany County, NY
Vacancy
6.30%
Lease Rate
$19.62 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,120
Cap Rate 7%
$476,514
Cap Rate 9%
$370,622
Alternative Uses
Best Use
Office B
$667.2K
$583.8K – $778.4K
NOI $46,703 @ 7.0% cap · market cap 12.29%
Second Best
Healthcare Medical
$476.5K
$417.0K – $555.9K
NOI $33,356 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$943.6K
$825.7K – $1.10M
NOI $66,053 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12182, NY
14,657
Population
7,314
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$54,663
Median Household Income
$47,077
Median Earnings
$1,012
Median Rent
$195,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office in a thriving community with ample parking.
Where is this medical office space located?
The property is located at 200 Northern Drive Troy, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Turnkey medical office ready for immediate use.; Ideal for establishing or expanding a healthcare practice.; Ample parking for patients and staff.
