Medical Office with Two Practice
New
For Sale
$999,999
183 Genesee Street, Auburn, NY 13021
CommercialSale, Auburn, NY
Property Size5,578 SF
Lot Size0.45 Acres
Price / SF$179.28
Days on Market1
Property Features for 183 Genesee Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
D
Zoning description
Business
Parking
32
Accessibility
Accessible Approach with Ramp
Lot features
Rectangular, Rectangular Lot
Elementary school district
Auburn
Middle school district
Auburn
High school district
Auburn
Directions
Approximately 1 mile west on the north side of Genesee St. from the central intersection of North or South Streets (otherwise known as Route 34).
Subdivision
Auburn-050100
Standard status
Active
APN
050100-115-060-0001-028-000-0000
Size
5,578 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
21780
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Flooring type
Carpet
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Riordan Realty
(315) 252-4687
Listed By:
Robert L. Bachta · License #10401319145
(315) 252-4687
Added: Sep 1
Last Checked: Sep 1 at 11:06AM
MLS# R1709882
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,578-square-foot medical office at 183 Genesee Street includes separate upper and lower units, both currently operating as dental practices. The 1960 building has a low-maintenance brick exterior, carpeted floors, central air, natural gas baseboard and hot-water heating, and an accessible ramp approach. Recent property work includes a new upper roof, second-floor A/C, driveway improvements, and updated lighting.
The property occupies 0.45 acres in Auburn, NY, with a 32-car parking lot and public water and sewer. Its setting among other medical service providers supports an established healthcare-oriented location, while 2023 traffic data reports over 8,000 cars per day. The property carries D zoning and offers an 8%+ cap rate.
The property occupies 0.45 acres in Auburn, NY, with a 32-car parking lot and public water and sewer. Its setting among other medical service providers supports an established healthcare-oriented location, while 2023 traffic data reports over 8,000 cars per day. The property carries D zoning and offers an 8%+ cap rate.
Key Highlights
- 5,578‑square‑foot medical office with upper and lower dental practice units
- 8%+ cap rate with both units currently operating as dental practices
- 32‑car parking lot on a 0.45‑acre site
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
$83,586
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
8.36%
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%
$1,671,720
$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
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
$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 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%
$1,671,720
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,326
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Urgent Veterinary Care — 207 Genesee St, Auburn, NY 13021
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two operating dental practices occupy a maintained medical office with central air and a brick exterior.
Where is this medical office space located?
The property is located at 183 Genesee Street 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‑square‑foot medical office with upper and lower dental practice units; 8%+ cap rate with both units currently operating as dental practices; 32‑car parking lot on a 0.45‑acre site
