Professional Office Building with Separate
3161 Union St North Chili, NY 14514
For Sale
Contact for pricing
For sale professional office building with separate utilities and two gross-plus-utilities leases in place.
Property Size8,800 SF
Price / SF$85.11
Days on Market1003
Property Features for 3161 Union St
General Information
Standard status
Active
Size
8,800 SF
Property subtype
OFFICE
Listing Agency:
Moore Corporate Real Estate
(585) 546-4170
Listed By:
Stephen Moore
Source:
Moodyscre
Added: Oct 31, 2023
Changed: Jul 26
Last Checked: Jul 28 at 1:48PM
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 Moore Corporate Real Estate
Investment Insights
Based on property information with market context.
Well-located professional office building in North Chili, NY, offered for sale with long-standing major tenant occupancy. The property is set up with separate utilities, providing distinct control of building services.
The building’s leasing is structured as Gross plus utilities, and both leases follow that same arrangement. This creates a straightforward operating model for an ownership opportunity that also includes value-add considerations.
With the existing tenant setup and utility separation already in place, the property is positioned as an office investment with established income and a clear path to evaluate improvements under current lease structure.
The building’s leasing is structured as Gross plus utilities, and both leases follow that same arrangement. This creates a straightforward operating model for an ownership opportunity that also includes value-add considerations.
With the existing tenant setup and utility separation already in place, the property is positioned as an office investment with established income and a clear path to evaluate improvements under current lease structure.
Key Highlights
- Professional office building with long‑standing major tenant
- Two leases in place, both structured as gross plus utilities
- Separate utilities for the building
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.6k | $14.04 |
| − Vacancy | −$35.2k | −$4.00 |
| EGI | $88.3k | $10.04 |
| − OpEx | −$22.1k | −$2.51 |
| NOI | $66.2k | $7.53 |
8,800 SF · lease $14.04/SF/yr · vacancy 28.51% · expense 25.00%
Alternative Uses
Best Use
Office B
$946.4K
$828.1K – $1.10M
NOI $66,245 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,254 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - For sale professional office building with separate utilities and two gross-plus-utilities leases in place.
Where is this office building located?
The property is located at 3161 Union St North Chili, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Professional office building with long‑standing major tenant; Two leases in place, both structured as gross plus utilities; Separate utilities for the building
