Medical Office Building with
For Sale
$999,999
183 Genesee St, Auburn, NY 13021
Upper and lower suites currently operate as dental practices near other medical service providers.
Property Size5,578 SF
Price / SF$179.28
Days on Market47
Property Features for 183 Genesee St
General Information
Standard status
Active
Size
5,578 SF
Total Parking Spaces
32
Additional Details
Office Units
2
Building Details
Year Built
1960
Construction
brick
Tenancy
Multi
Listing Agency:
Riordan Realty
Listed By:
Robert L. Bachta · License #10401319145
(315) 252-4687
Source:
Skinnercnyrealty
Added: Sep 2
Changed: Oct 9
Last Checked: Oct 7 at 3:32PM
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 Riordan Realty
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Investment Insights
Based on property information with market context.
Located at 183 Genesee St in Auburn, NY, this 5,578-square-foot medical office property contains upper and lower units currently operating as dental practices. The building was constructed in 1960 and features a low-maintenance brick exterior, asphalt parking, gas service, and a 32-space parking lot.
Recent property improvements include a new upper roof, new second-floor A/C, a new driveway, and updated lighting. The site measures 66X297 and recorded over 8,000 cars per day based on 2023 traffic data. Nearby medical service providers support the property’s established healthcare-oriented setting. The offering is reported at an 8%+ cap rate.
Recent property improvements include a new upper roof, new second-floor A/C, a new driveway, and updated lighting. The site measures 66X297 and recorded over 8,000 cars per day based on 2023 traffic data. Nearby medical service providers support the property’s established healthcare-oriented setting. The offering is reported at an 8%+ cap rate.
Key Highlights
- 5,578 SF medical office property with upper and lower dental practice units
- 8%+ cap rate
- 32 Parking Spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,586
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,671,720
$1.7M
Cap Rate 7%
$1,194,086
$1.2M
Cap Rate 9%
$928,733
$928.7K
Market Conditions
NOI Build-Up for 5,578 SF
Gross rent
$150.6K $27.00/SF
− Vacancy
−$11.3K −$2.03/SF
EGI
$139.3K $24.98/SF
− OpEx
−$55.7K −$9.99/SF
NOI
$83.6K $14.99/SF
Area
Cayuga County, NY
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,671,720
Cap Rate 7%
$1,194,086
Cap Rate 9%
$928,733
Alternative Uses
Best Use
Healthcare Medical
$1.19M
$1.04M – $1.39M
NOI $83,586 @ 7.0% cap · market cap 8.36%
Second Best
Office B
$991.5K
$867.6K – $1.16M
NOI $69,404 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,535 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Brookside Veterinary Clinic — 85 Grant Ave, Auburn, NY 13021
Frequently Asked Questions
What type of property is this?
Medical Office Space - Upper and lower suites currently operate as dental practices near other medical service providers.
Where is this medical office space located?
The property is located at 183 Genesee St Auburn, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 5,578 SF medical office property with upper and lower dental practice units; 8%+ cap rate; 32 Parking Spaces.
