Listing Agency: Coldwell Banker Finger Lakes

Listed By: John P. Parrott III · License #10301221870 Show Phone

Source: Nicholcityrealty

Added: Jul 13 Changed: Oct 14 Last Checked: Oct 12 at 5:29PM

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Investment Insights

Based on property information with market context.

This 4,700-square-foot medical office property, built in 2008, offers a detailed interior configuration for healthcare or professional office use. The floor plan includes seven exam rooms, six professional offices, a reception and waiting area, clerical office, lab, and multiple storage areas. A private parking lot provides 22 spaces for patients, clients, and staff.

The property is located at 399 Grant Avenue Road in Auburn, New York, within CL, Commercial zoning. Its existing room arrangement and support spaces provide a functional base for an established practice or office operation.

Key Highlights

• 4,700‑square‑foot medical office building constructed in 2008
• Seven exam rooms and six professional offices
• Reception and waiting area plus clerical office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,972

Cap Rate

5.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,359,440 $1.4M

Cap Rate 7%

$971,029 $971.0K

Cap Rate 9%

$755,244 $755.2K

Market Conditions

NOI Build-Up for 4,536 SF

Gross rent

$122.5K $27.00/SF

− Vacancy

−$9.2K −$2.03/SF

EGI

$113.3K $24.98/SF

− OpEx

−$45.3K −$9.99/SF

NOI

$68.0K $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%

$1,359,440

Cap Rate 7%

$971,029

Cap Rate 9%

$755,244

Alternative Uses

Best Use

Healthcare Medical

$971.0K

$849.7K – $1.13M (±1% cap)

NOI $67,972 @ 7.0% cap · market cap 5.23%

Second Best

Office B

$806.3K

$705.5K – $940.7K (±1% cap)

NOI $56,439 @ 7.0% cap · market cap 4.34%

Theoretical Best

Office A

$1.01M

$879.6K – $1.17M (±1% cap)

NOI $70,370 @ 7.0% cap · market cap 5.41%

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

Property Analytics

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Current Use

Dr. Shirwan A. Mirza, ... Physician Regional Endocrine & Metabolic Medical Clinic Lockwood Jessica K ... Physician Melissa Otte Physician

Suggested Use

Top Pick Electrical Service Plumbing Service Dental Office Bakery Grocery & Convenience Store Carpet & Flooring 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.

Location Intelligence

Trade Area within ½ mile

116

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Medical Office Space - Purpose-built professional space includes exam rooms, private offices, reception, lab, storage, and dedicated on-site parking.

Where is this medical office space located?

The property is located at 399 Grant Avenue Road Sennett, NY.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 4,700‑square‑foot medical office building constructed in 2008; Seven exam rooms and six professional offices; Reception and waiting area plus clerical office