City View Professional Office
For Sale
Contact for pricing
1630 Empire Blvd, Webster, NY 14580
Second-floor condo office in Webster, NY, suitable for medical or professional use.
Property Size2,868 SF
Price / SF$144.67
Days on Market403
Property Features for 1630 Empire Blvd
General Information
Standard status
Active
Size
2,868 SF
Total Parking Spaces
43
Property subtype
Office
Zoning
LB
Building Details
Year Built
1992
Buildings
1
Stories
3
Listing Agency:
Hunt Real Estate
Listed By:
David Kuperus · License #10301216133
Source:
Crexi
Added: Jul 14, 2025
Changed: Aug 8
Last Checked: Aug 18 at 8:00AM
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 Hunt Real Estate
Investment Insights
Based on property information with market context.
The City View Professional Building offers a second-floor condo office space suitable for medical or professional use. Located on the border of Webster and Penfield, NY, the property was previously used as an OBGYN practice. The 2,868 square-foot space includes a private elevator that opens directly into a lobby and reception area. The layout features four private offices, seven exam rooms, and two dedicated bathrooms. A fully equipped lab and a break room are also included. The owner offers build-to-suit options to accommodate specific requirements.
Key Highlights
- Prime location on the border of Webster and Penfield, NY.
- Versatile space adaptable for any medical or professional office use.
- Private elevator leading directly to a welcoming lobby/reception area.**
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
$33,065
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
7.97%
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%
$661,300
$661.3K
Cap Rate 7%
$472,357
$472.4K
Cap Rate 9%
$367,389
$367.4K
Market Conditions
NOI Build-Up for 2,868 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
$63.0K $21.96/SF
− Vacancy
−$7.9K −$2.75/SF
EGI
$55.1K $19.22/SF
− OpEx
−$22.0K −$7.69/SF
NOI
$33.1K $11.53/SF
Area
Monroe County, NY
Vacancy
12.50%
Lease Rate
$21.96 /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%
$661,300
Cap Rate 7%
$472,357
Cap Rate 9%
$367,389
Alternative Uses
Best Use
Healthcare Medical
$472.4K
$413.3K – $551.1K
NOI $33,065 @ 7.0% cap · market cap 7.97%
Second Best
Office B
$308.4K
$269.9K – $359.8K
NOI $21,590 @ 7.0% cap · market cap 5.20%
Theoretical Best
Specialty Retail
$550.6K
$481.8K – $642.3K
NOI $38,540 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14580, NY
54,148
Population
24,355
Households
2.2
Avg Household Size
46
Median Age
45%
College-Educated
96%
High-School Grad
42.6 sq mi
ZIP Area
1,271
Density / Sq Mi
$95,499
Median Household Income
$58,150
Median Earnings
$1,387
Median Rent
$253,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor condo office in Webster, NY, suitable for medical or professional use.
Where is this medical office space located?
The property is located at 1630 Empire Blvd Webster, NY.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Prime location on the border of Webster and Penfield, NY.; Versatile space adaptable for any medical or professional office use.; Private elevator leading directly to a welcoming lobby/reception area.**
