Medical Office with Treatment
6 Executive Park Dr, Albany, NY 12203
For Sale
New
Contact for pricing
Five private treatment rooms and a waiting area serve a range of medical and wellness operations.
Property Size592,416 SF
Price / SF$0.00
Days on Market3
Property Features for 6 Executive Park Dr
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Property Use
Medical Specialty
Building Details
Year Built
Listing Agency:
Roohan Realty
Listed By:
Brian Walters · License NY 30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Nov 8
Last Checked: Nov 8 at 6:01PM
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 Roohan Realty
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Investment Insights
Based on property information with market context.
This medical office space is offered for sublease with five private treatment rooms and a waiting area. An administrative area may also be accessible. The property was built in 1970 and is located at 6 Executive Park Drive, Entrance D, in Albany, New York.
The sublease term is 36 months, while the master lease runs through 2030. The room configuration and waiting area are existing features of the space.
The sublease term is 36 months, while the master lease runs through 2030. The room configuration and waiting area are existing features of the space.
Key Highlights
- Five private treatment rooms
- Waiting area included
- Potential access to an administrative area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,618,849
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,376,980
$152.4M
Cap Rate 7%
$108,840,700
$108.8M
Cap Rate 9%
$84,653,878
$84.7M
Market Conditions
NOI Build-Up for 592,416 SF
Gross rent
$13.86M $23.40/SF
− Vacancy
−$1.16M −$1.97/SF
EGI
$12.70M $21.43/SF
− OpEx
−$5.08M −$8.57/SF
NOI
$7.62M $12.86/SF
Area
Albany, NY
Vacancy
8.40%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,376,980
Cap Rate 7%
$108,840,700
Cap Rate 9%
$84,653,878
Alternative Uses
Best Use
Office B
$115.83M
$101.35M – $135.13M
NOI $8,107,983 @ 7.0% cap
Second Best
Healthcare Medical
$108.84M
$95.24M – $126.98M
NOI $7,618,849 @ 7.0% cap
Theoretical Best
Office A
$156.30M
$136.76M – $182.35M
NOI $10,940,739 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,097
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- New York State Veterinary Medical Society — 300 Great Oaks Blvd Ste 314, Albany, NY 12203
- Albany County Veterinary Hospital — 1506 Western Ave, Albany, NY 12203
Frequently Asked Questions
What type of property is this?
Medical Office Space - Five private treatment rooms and a waiting area serve a range of medical and wellness operations.
Where is this medical office space located?
The property is located at 6 Executive Park Dr Albany, NY.
What are key features of this property?
This property features: Five private treatment rooms; Waiting area included; Potential access to an administrative area
