Mixed-Use Building with Medical
For Sale
Contact for pricing
8397 Boston State Rd, Boston, NY 14025
Three-unit building offers an available ground-floor medical office plus updated apartments and plenty of parking.
Property Size3,744 SF
Price / SF$90.81
Days on Market649
Property Features for 8397 Boston State Rd
General Information
Standard status
Active
Size
3,744 SF
Property subtype
OFFICE
Building Details
Buildings
1
Listing Agency:
Hunt Commercial - Buffalo
(716) 553-4517
Listed By:
Chris Malachowski
(716) 553-4517
Source:
Moodyscre
Added: Nov 9, 2024
Changed: Aug 19
Last Checked: Aug 19 at 5:32AM
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 Hunt Commercial - Buffalo
Investment Insights
Based on property information with market context.
This three-unit mixed-use building totals 3,744 square feet and includes an available first-floor medical office space of 1,872 square feet. The property is described as having a newer roof and updated apartments, supporting a clean, workable setup for multiple uses.
The building offers plenty of parking, and the seller notes it can be a fit for office, medical, or retail applications, depending on how you structure the space.
For a buyer or tenant looking for an income-producing configuration with a dedicated ground-floor option, this property provides separate components within one building.
The building offers plenty of parking, and the seller notes it can be a fit for office, medical, or retail applications, depending on how you structure the space.
For a buyer or tenant looking for an income-producing configuration with a dedicated ground-floor option, this property provides separate components within one building.
Key Highlights
- 3‑unit mixed‑use building with 3,744 sq ft total
- Ground‑floor medical office available for lease: 1,872 sq ft
- Suitable for office, medical, or retail use
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
$24,073
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
7.08%
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%
$481,460
$481.5K
Cap Rate 7%
$343,900
$343.9K
Cap Rate 9%
$267,478
$267.5K
Market Conditions
NOI Build-Up for 3,744 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
$51.7K $13.80/SF
− Vacancy
−$17.3K −$4.61/SF
EGI
$34.4K $9.19/SF
− OpEx
−$10.3K −$2.76/SF
NOI
$24.1K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$481,460
Cap Rate 7%
$343,900
Cap Rate 9%
$267,478
Alternative Uses
Best Use
Office B
$670.2K
$586.4K – $781.9K
NOI $46,915 @ 7.0% cap · market cap 13.80%
Second Best
Healthcare Medical
$515.3K
$450.9K – $601.1K
NOI $36,068 @ 7.0% cap · market cap 10.61%
Theoretical Best
Office A
$818.5K
$716.2K – $954.9K
NOI $57,292 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14025, NY
2,996
Population
1,692
Households
1.8
Avg Household Size
46
Median Age
42%
College-Educated
97%
High-School Grad
21.0 sq mi
ZIP Area
143
Density / Sq Mi
$109,542
Median Household Income
$62,121
Median Earnings
$950
Median Rent
$237,400
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 - Three-unit building offers an available ground-floor medical office plus updated apartments and plenty of parking.
Where is this medical office space located?
The property is located at 8397 Boston State Rd Boston, NY.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 3‑unit mixed‑use building with 3,744 sq ft total; Ground‑floor medical office available for lease: 1,872 sq ft; Suitable for office, medical, or retail use
