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    66 Central St Moravia, NY

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    Professional building with exam rooms and office space for sale.

    Type:INDUSTRIAL
    Property size:
    16,503 SF
    Lot size:
    0.83 Acres
    Price / SF:
    $7/SF
    Added:
    Oct 25, 2024
    Days on Market:
    551
    Last Refresh:
    Apr 5 at 9:28 pm

    Property Features for 66 Central St

    General Information

    Standard status
    Active
    Size
    16,503 SF
    Lot size
    0.83 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Todd Post
    Todd Post

    Listing agent Todd Post License #31PO0919928

    Listing office CENTURY 21 - Post Realty | Auburn

    Listing date Oct 25, 2024

    Source Moodyscre

    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 CENTURY 21 - Post Realty | Auburn

    Overview

    Moravia Professional Building For Sale

    This professional building for sale in Moravia features a spacious waiting room, offices, exam rooms, a conference room, and a kitchen area. Designed for healthcare use, it includes a 21x25 waiting room and a handicap-accessible bathroom. There are several 10x12 and 14x8 exam rooms, each equipped with a sink area. The property has a total of four bathrooms. These rooms could be converted into office space, making it suitable for various professional uses. In addition to the main building, there are two outpost buildings on the property that could be used for storage or developed for commercial purposes. The property offers ample parking and is centrally located with close proximity to Auburn, Ithaca, and Cortland. The property size is 16503 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mashelle M. Jansen, ... Physician Community Medical Center Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Moravia Veterinary Hospital — 68 Central St, Moravia, NY 13118

    Location Insight

    • Map
    • Local Demand
    City
    Moravia
    County
    Cayuga
    State
    New York
    Longitude
    -76.4269
    Latitude
    42.7124

    Nearby Similar for Sale

    • $789,900
      2,144 SF

      Turn-Key Butcher Shop with Residence

      Established butcher shop with residence on 13 acres.
      3594 Burtless Rd, Moravia, NY 13118
      View Details
    • $365,000
      7,450 SF

      Former Bank Building with Retail

      Commercial property in Moravia with retail and bank space.
      142 Main St, Moravia, NY 13118
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Professional building with exam rooms and office space for sale.
    Where is this medical office space located?
    The property is located at 66 Central St Moravia, NY.
    What is the asking price?
    The asking price for this property is $119,000.
    What are key features of this property?
    This property features: Centrally located with close proximity to Auburn, Ithaca, and Cortland.; Set up for health care with **spacious waiting room and exam rooms, each with a sink area.**; **Handicap accessible bathroom.**
    (315) 729-4120 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Todd Post
    Todd Post
    Real Estate License ID: 31PO0919928
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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