Two-Unit Medical Office
For Sale
$999,999
183 Genesee Street, Auburn, NY 13021
Upper and lower suites are both operating as dental practices in a well-maintained medical office building.
Property Size5,578 SF
Days on Market48
Property Features for 183 Genesee Street
General Information
Standard status
Active
Size
5,578 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$21,780
Building Details
Building Size
5,578 SF
Year Built
1960
Listing Agency:
Riordan Realty
Listed By:
Robert L. Bachta · License #10401319145
(315) 252-4687
Source:
Griffith-realty
Added: Sep 1
Changed: Oct 9
Last Checked: Oct 16 at 2:43PM
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.
Built in 1960, this medical office property contains upper and lower suites currently operating as dental practices. The building features a low-maintenance brick exterior, a recently replaced upper roof, updated second-floor A/C, a new driveway, and new lighting. A 32-car parking lot supports the existing medical-office configuration.
The property is located at 183 Genesee Street in Auburn, NY, among other medical service providers. 2023 traffic data reports more than 8,000 cars per day along the roadway. The property is offered with an 8%+ cap rate, providing an established operating profile for medical-office ownership.
The property is located at 183 Genesee Street in Auburn, NY, among other medical service providers. 2023 traffic data reports more than 8,000 cars per day along the roadway. The property is offered with an 8%+ cap rate, providing an established operating profile for medical-office ownership.
Key Highlights
- Two medical office suites, both currently operating as dental practices
- 8%+ cap rate
- 32‑car parking lot
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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-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
Frequently Asked Questions
What type of property is this?
Medical Office Space - Upper and lower suites are both operating as dental practices in a well-maintained medical office building.
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: Two medical office suites, both currently operating as dental practices; 8%+ cap rate; 32‑car parking lot
