Building Details

Buildings 1

Building Size 3,500 SF

Listing Agency: North Star Real Estate & Property Management

Listed By: Devin Ostrom Show Phone

Source: Nicholcityrealty

Added: Jul 22 Changed: Oct 15 Last Checked: Oct 16 at 8:31AM

Report an Issue

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 North Star Real Estate & Property Management

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 3,500 sq. ft. medical office building has a practical layout for healthcare and professional operations. The interior includes a reception area, a generous waiting room, multiple exam rooms and offices, storage areas, break space, and 2 bathrooms. The property was formerly used as a medical center and is maintained in move-in-ready condition.

Located at 32787 US Route 11 in Philadelphia, NY, the building fronts a highly visible road with easy access. Fort Drum is only minutes away. Ample parking supports daily activity for staff and visitors, while the existing room arrangement provides a functional foundation for a medical office user.

Key Highlights

• 3,500 sq. ft. medical office building
• Multiple exam rooms and offices
• Reception area and large waiting room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,110

Suggested Prices Based on Cap Rates

Cap Rate 5%

$942,200 $942.2K

Cap Rate 7%

$673,000 $673.0K

Cap Rate 9%

$523,444 $523.4K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,500 SF

Gross rent

$88.6K $25.32/SF

− Vacancy

−$10.1K −$2.89/SF

EGI

$78.5K $22.43/SF

− OpEx

−$31.4K −$8.97/SF

NOI

$47.1K $13.46/SF

Area

Jefferson County, NY

Vacancy

11.40%

Lease Rate

$25.32 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$942,200

Cap Rate 7%

$673,000

Cap Rate 9%

$523,444

Alternative Uses

Best Use

Office B

$696.6K

$609.5K – $812.7K (±1% cap)

NOI $48,762 @ 7.0% cap · market cap 975.24%

Second Best

Healthcare Medical

$673.0K

$588.9K – $785.2K (±1% cap)

NOI $47,110 @ 7.0% cap · market cap 942.20%

Theoretical Best

Office A

$964.8K

$844.2K – $1.13M (±1% cap)

NOI $67,536 @ 7.0% cap · market cap 1,350.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Plumbing Service Garden Center (Bike/Boat/Book/etc) Store Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13673, NY

2,503

Population

871

Households

2.9

Avg Household Size

32

Median Age

18%

College-Educated

95%

High-School Grad

40.8 sq mi

ZIP Area

61

Density / Sq Mi

$75,758

Median Household Income

$35,134

Median Earnings

$798

Median Rent

$171,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Medical Office Space - Configured with reception, waiting, exam, storage, break, and restroom areas for professional medical operations.

Where is this medical office space located?

The property is located at 32787 US Route 11 Philadelphia, NY.

What are key features of this property?

This property features: 3,500 sq. ft. medical office building; Multiple exam rooms and offices; Reception area and large waiting room