Monticello Medical Office Building For
For Sale
Contact for pricing
55 Sturgis Rd, Monticello, NY 12701
Fully leased medical office building near local amenities and Route 17.
Property Size8,868 SF
Price / SF$217.07
Days on Market197
Property Features for 55 Sturgis Rd
General Information
Standard status
Active
Size
8,868 SF
Class
A
Property subtype
Office
Zoning
office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$185,569
Building Details
Year Built
2009
Stories
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company - Newburgh, New York
Listed By:
James DeSimone · License #NY 10301222946
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 18 at 11:32PM
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 Cushman & Wakefield Pyramid Brokerage Company - Newburgh, New York
Investment Insights
Based on property information with market context.
This fully leased medical office building, constructed in 2009, is located on Sturgis Road in the Village of Monticello, NY. The property is occupied by a VA clinic and a physical therapy practice. It features over 50 parking spaces on-site and monument signage in front of the building. The location offers convenient access to local amenities and restaurants, and is situated just minutes from NYS Route 17. This property presents an opportunity for investors interested in medical office buildings and government-leased properties. The building has a size of 8,868 square feet.
Key Highlights
- Fully leased medical office building with VA clinic and physical therapy tenants.
- Excellent accessibility, minutes from NYS Route 17.
- Over 50 on‑site parking spaces.
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
$129,295
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
6.72%
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%
$2,585,900
$2.6M
Cap Rate 7%
$1,847,071
$1.8M
Cap Rate 9%
$1,436,611
$1.4M
Market Conditions
NOI Build-Up for 8,868 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
$239.4K $27.00/SF
− Vacancy
−$23.9K −$2.70/SF
EGI
$215.5K $24.30/SF
− OpEx
−$86.2K −$9.72/SF
NOI
$129.3K $14.58/SF
Area
Sullivan County, NY
Vacancy
10.00%
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%
$2,585,900
Cap Rate 7%
$1,847,071
Cap Rate 9%
$1,436,611
Alternative Uses
Best Use
Healthcare Medical
$1.85M
$1.62M – $2.15M
NOI $129,295 @ 7.0% cap · market cap 6.72%
Second Best
Office B
$1.78M
$1.56M – $2.08M
NOI $124,507 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,266 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office building near local amenities and Route 17.
Where is this medical office space located?
The property is located at 55 Sturgis Rd Monticello, NY.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Fully leased medical office building with VA clinic and physical therapy tenants.; Excellent accessibility, minutes from NYS Route 17.; Over 50 on‑site parking spaces.
