Building Details

Year Built 1973

Stories 2

Tenancy Multi

Listing Agency: Century 21 Turner Brokers

Listed By: Thomas Turner · License #10311200036 Show Phone

Source: Compass

Added: May 22, 2022 Changed: Oct 14 Last Checked: Oct 16 at 10:26AM

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Investment Insights

Based on property information with market context.

This 3,842-square-foot office building contains three separate suites with varied layouts. The first includes five offices, a reception area, a half bath, and sinks in each room. The second provides two offices, reception space, a full kitchen, and a full bath. The third has two offices and two half baths. Central air conditioning serves the property, which also includes carpeted interiors and on-site parking.

Located at 1177 Ridge Road in Lackawanna, the property is zoned neighborhood commercial and was previously used as a doctor’s office. The building dates to 1973 and has a flat rubber membrane roof. The configuration supports office, medical, and dental office occupancy, with the suites capable of being leased together or separately.

Key Highlights

• 3,842 sq ft office building with 3 available suites
• Unit 1 includes 5 offices, reception, half bath, and sinks in every room
• Unit 2 has 2 offices, reception, full kitchen, and full bath

Property Analytics

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Current Use

Karakas Branko MD Physician

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Gym & Fitness Center Big Box & Wholesale Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

NNN (Triple Net)

Lease Type

$1.41 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

399

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 14218, NY

20,878

Population

9,478

Households

2.2

Avg Household Size

38

Median Age

21%

College-Educated

88%

High-School Grad

8.1 sq mi

ZIP Area

2,578

Density / Sq Mi

$50,484

Median Household Income

$36,457

Median Earnings

$829

Median Rent

$135,000

Median Home Value

Market

Lease Benchmarks for Lackawanna, NY

$14.65 /SF/Yr

Avg Asking Price

$2.5–$22 /SF/Yr

Price Range

4,683 SF

Avg Space Size

This space is priced 36% below the average of $14.65 /SF/Yr.

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Neighborhood commercial zoning permits office, medical, and dental office uses.

Where is this medical office space located?

The property is located at 1177 Ridge Road Lackawanna, NY.

What is the lease rate?

The lease rate is $3,000/Mo.

What are key features of this property?

This property features: 3,842 sq ft office building with 3 available suites; Unit 1 includes 5 offices, reception, half bath, and sinks in every room; Unit 2 has 2 offices, reception, full kitchen, and full bath