Medical Office Near Retail
For Sale
$1,100,000
5862 Snyder Drive, Lockport, NY 14094
Spacious medical office with dental buildout near Lockport.
Property Size8,597 SF
Price / SF$127.95
Days on Market219
Property Features for 5862 Snyder Drive
General Information
Standard status
Active
Size
8,597 SF
Property subtype
Healthcare
Listing Agency:
CBRE | Buffalo
Listed By:
Lida Eberz · License #Real Estate Salesperson
(716) 912-2285
Source:
Cbre
Added: Mar 25
Changed: Oct 26
Last Checked: Oct 28 at 5:22AM
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 CBRE | Buffalo
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Investment Insights
Based on property information with market context.
This is an 8,597 sq. ft. medical office with a dental buildout located near Lockport’s South Transit retail corridor. The office features a porte cochère at the patient entrance leading to a large reception area equipped with fireplaces, saltwater aquariums, and a children’s play room. The building includes multiple employee entrances secured with key fob access, a large administrative area with four check-in/out windows, 14 dental operatories, and five private offices. It also contains a centrally located dental lab and prep area, kitchenette, changing/laundry room, and private employee restrooms. A second floor/mezzanine space provides additional storage and access to mechanicals. The property is approximately 2.5 miles from downtown Lockport and 7 miles from I-990. Parking is available for approximately 135 cars, and the property includes monument signage.
Key Highlights
- Spacious 8,597 sq. ft. medical office with a dental buildout.
- Features 14 dental operatories and 5 private offices.
- Prime location near Lockport’s South Transit retail corridor.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,301
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,020
$1.4M
Cap Rate 7%
$990,014
$990.0K
Cap Rate 9%
$770,011
$770.0K
Market Conditions
NOI Build-Up for 8,597 SF
Gross rent
$123.8K $14.40/SF
− Vacancy
−$8.3K −$0.96/SF
EGI
$115.5K $13.44/SF
− OpEx
−$46.2K −$5.37/SF
NOI
$69.3K $8.06/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,020
Cap Rate 7%
$990,014
Cap Rate 9%
$770,011
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,584 @ 7.0% cap · market cap 11.05%
Second Best
Healthcare Medical
$990.0K
$866.3K – $1.16M
NOI $69,301 @ 7.0% cap · market cap 6.30%
Theoretical Best
Warehouse
$7.30M
$6.39M – $8.52M
NOI $511,339 @ 7.0% cap · market cap 46.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Spacious medical office with dental buildout near Lockport.
Where is this medical office space located?
The property is located at 5862 Snyder Drive Lockport, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Spacious 8,597 sq. ft. medical office with a dental buildout.; Features **14 dental operatories and 5 private offices.**; Prime location near Lockport’s South Transit retail corridor.
