Listing Agency: Hunt Real Estate ERA/Columbus Show Phone

Listed By: Kristy J Danno Show Phone

Source: Exprealty

Added: Jan 22 Changed: Oct 3 Last Checked: Oct 7 at 3:28PM

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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 / Yr

$33,065

Cap Rate

8.27%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $33,065 @ 7.0% cap · market cap 8.27%

Second Best

Office B

$308.4K

$269.9K – $359.8K (±1% cap)

NOI $21,590 @ 7.0% cap · market cap 5.40%

Theoretical Best

Specialty Retail

$550.6K

$481.8K – $642.3K (±1% cap)

NOI $38,540 @ 7.0% cap · market cap 9.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Peter Pellittieri, DDS ... Dental Office Women Gynecology & Childbirth: ... Physician Women Gynecology & Childbirth: ... Physician Morningstar Elizabeth D ... Physician Ami - OBGYN - Webster Medical Clinic

Suggested Use

Top Pick Parking Lot & Garage Kitchen & Bath Showroom Plumbing Service Grocery & Convenience Store HVAC Service Locksmith

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

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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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 $399,900.

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.**