Medical Office Building with Exam
For Sale
$1,100,000
Pending
1682 Empire Blvd, Webster, NY 14580
Healthcare building with a multiple-exam-room layout, patient waiting area, and on-site parking, fully leased to a medical tenant.
Property Size8,600 SF
Days on Market58
Property Features for 1682 Empire Blvd
General Information
Standard status
Pending
Size
8,600 SF
Occupancy
100%
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$28,191
Building Details
Tenancy
Single
Listing Agency:
RE/MAX Plus
(585) 787-8888
Listed By:
John Antetomaso · License #49AN1151017
(585) 787-8888
Source:
Exprealty
Added: Jun 15
Changed: Aug 9
Last Checked: Aug 10 at 9:58AM
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 RE/MAX Plus
Investment Insights
Based on property information with market context.
This medical office building is configured for healthcare use, featuring multiple exam rooms and offices supported by a large patient waiting area. The building offers a practical patient flow throughout the interior and was recently renovated on several offices. The property is currently occupied in its entirety by a single medical tenant, with the tenant serving as the on-site operator under the existing lease terms.
The property is located at 1682 Empire Blvd in Webster, NY. The listing notes convenient access to the building and the availability of parking for patients, staff, and visitors.
For buyers seeking a healthcare-oriented asset with operational continuity, the fully leased, single-tenant structure provides straightforward ownership without the need to coordinate multiple occupants. The recent office renovations and dedicated exam-room setup support medical workflows, while the large waiting area and internal circulation are aligned with patient-facing services. The opportunity may also be considered as part of a two-building portfolio purchase, with the related asset identified at 3101 West Ridge Road – Building “D.” Prospective buyers should request financial information under a confidentiality agreement to review lease details.
The property is located at 1682 Empire Blvd in Webster, NY. The listing notes convenient access to the building and the availability of parking for patients, staff, and visitors.
For buyers seeking a healthcare-oriented asset with operational continuity, the fully leased, single-tenant structure provides straightforward ownership without the need to coordinate multiple occupants. The recent office renovations and dedicated exam-room setup support medical workflows, while the large waiting area and internal circulation are aligned with patient-facing services. The opportunity may also be considered as part of a two-building portfolio purchase, with the related asset identified at 3101 West Ridge Road – Building “D.” Prospective buyers should request financial information under a confidentiality agreement to review lease details.
Key Highlights
- Medical building in Penfield fully leased to a medical tenant occupying the entire building
- Medical layout includes multiple exam rooms and offices, with a large patient waiting area
- Recent renovation completed on several offices within the building
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
$99,149
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
9.01%
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%
$1,982,980
$2.0M
Cap Rate 7%
$1,416,414
$1.4M
Cap Rate 9%
$1,101,656
$1.1M
Market Conditions
NOI Build-Up for 8,600 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
$188.9K $21.96/SF
− Vacancy
−$23.6K −$2.75/SF
EGI
$165.2K $19.22/SF
− OpEx
−$66.1K −$7.69/SF
NOI
$99.1K $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%
$1,982,980
Cap Rate 7%
$1,416,414
Cap Rate 9%
$1,101,656
Alternative Uses
Best Use
Healthcare Medical
$1.42M
$1.24M – $1.65M
NOI $99,149 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.65M
$1.44M – $1.93M
NOI $115,566 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
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
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 center - Healthcare building with a multiple-exam-room layout, patient waiting area, and on-site parking, fully leased to a medical tenant.
Where is this medical center located?
The property is located at 1682 Empire Blvd Webster, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Medical building in Penfield fully leased to a medical tenant occupying the entire building; Medical layout includes multiple exam rooms and offices, with a large patient waiting area; Recent renovation completed on several offices within the building
