Medical Office Building with Exam
New
For Sale
$550,000
3230 Eastern Boulevard, York, PA 17402
Two-sided medical office configuration with shared reception supports owner occupancy, professional use, or separate tenancy.
Property Size2,800 SF
Lot Size0.45 Acres
Price / SF$196.43
Days on Market2
Property Features for 3230 Eastern Boulevard
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.45 Acres
Property subtype
Office, Commercial
Additional Details
Office Units
2
Building Details
Building Size
2,800 SF
Buildings
1
Listing Agency:
Bennett Williams Commercial - Lancaster
(717) 843-5555
Listed By:
Connor Spahr · License #RS223285L
Source:
Bennettwilliams
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 3:28AM
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 Bennett Williams Commercial - Lancaster
Investment Insights
Based on property information with market context.
This approximately 2,800 SF medical office building is arranged as two symmetrical suites of approximately 1,200 SF each, connected by a central lobby and reception area of approximately 400 SF. Each side includes four exam rooms, with additional space that can accommodate private offices and support functions. The existing configuration is suited to medical or professional office operations and can also support two separate businesses within one building.
The property occupies approximately 0.45 acres at a signalized corner on Eastern Boulevard in East York, along a heavily traveled commercial and medical corridor. Its layout offers flexibility for an owner-user to occupy one suite while leasing the other, or for an investor to retain the two-suite arrangement. The building is offered for sale or lease.
The property occupies approximately 0.45 acres at a signalized corner on Eastern Boulevard in East York, along a heavily traveled commercial and medical corridor. Its layout offers flexibility for an owner-user to occupy one suite while leasing the other, or for an investor to retain the two-suite arrangement. The building is offered for sale or lease.
Key Highlights
- Approximately 2,800 SF medical office building on approximately 0.45 acres
- Two symmetrical suites of approximately 1,200 SF each
- Four exam rooms in each suite
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
$44,640
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
8.12%
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%
$892,800
$892.8K
Cap Rate 7%
$637,714
$637.7K
Cap Rate 9%
$496,000
$496.0K
Market Conditions
NOI Build-Up for 2,800 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
$61.5K $21.96/SF
− Vacancy
−$2.0K −$0.70/SF
EGI
$59.5K $21.26/SF
− OpEx
−$14.9K −$5.31/SF
NOI
$44.6K $15.94/SF
Area
York County, PA
Vacancy
3.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$892,800
Cap Rate 7%
$637,714
Cap Rate 9%
$496,000
Alternative Uses
Best Use
Office B
$637.7K
$558.0K – $744.0K
NOI $44,640 @ 7.0% cap · market cap 8.12%
Second Best
Healthcare Medical
$198.5K
$173.7K – $231.6K
NOI $13,893 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$810.7K
$709.4K – $945.8K
NOI $56,749 @ 7.0% cap · market cap 10.32%
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
656
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 17402, PA
36,978
Population
14,751
Households
2.5
Avg Household Size
43
Median Age
35%
College-Educated
91%
High-School Grad
18.7 sq mi
ZIP Area
1,977
Density / Sq Mi
$77,134
Median Household Income
$46,039
Median Earnings
$1,307
Median Rent
$247,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-sided medical office configuration with shared reception supports owner occupancy, professional use, or separate tenancy.
Where is this medical office space located?
The property is located at 3230 Eastern Boulevard York, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,800 SF medical office building on approximately 0.45 acres; Two symmetrical suites of approximately 1,200 SF each; Four exam rooms in each suite
