Adjoining Medical Office
For Sale
$1,500,000
8600 Sheridan Drive, Clarence, NY 14221
Three bright adjoining office suites offer separate entrances and private bathrooms with ample on-site parking.
Property Size9,185 SF
Lot Size1.10 Acres
Price / SF$258.98
Days on Market54
Property Features for 8600 Sheridan Drive
General Information
Standard status
Active
Size
9,185 SF
Class
A
Total Parking Spaces
54
Lot size
1.10 Acres
Property subtype
Office
Additional Details
Heavy Power
Yes
Building Details
Building Size
9,185 SF
Year Built
1979
Listing Agency:
Hunt Commercial - Buffalo
(716) 444-0299
Listed By:
Stephen Hunt · License #10301203321
(716) 444-0299
Source:
Huntcommercial
Added: Jun 24
Changed: Aug 16
Last Checked: Aug 16 at 4:27AM
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 offering includes three adjoining suites totaling 1,422 sf, 1,700 sf, and 2,670 sf within an owner-occupied building of about 9,185 sf. The suites are described as clean and bright, with each suite featuring its own bathroom and abundant window light. Separate entrances provide direct access to the parking lot, supporting independent use by multiple professionals or flexible leasing configurations. In addition, common men’s and women’s bathrooms are available in the hallway. The largest suite (2,670 sf) was built as a dental laboratory and includes three-phase, 220 power.
The property is located at the northeast corner of Sheridan Drive and Meadowbrook Road in Clarence. Site parking consists of about 54 paved spaces, with the overall parking ratio noted as well above 5.5 per thousand sf, making the facility convenient for staff and patients/clients.
For buyers and tenants, the combination of private restrooms, direct parking-lot entrances, and flexible suite sizes makes the building workable for medical and related office uses. The presence of three-phase, 220 power in the largest suite may also support certain back-of-house or lab-oriented requirements, while the shared hallway restrooms can support overflow traffic during busy hours.
The property is located at the northeast corner of Sheridan Drive and Meadowbrook Road in Clarence. Site parking consists of about 54 paved spaces, with the overall parking ratio noted as well above 5.5 per thousand sf, making the facility convenient for staff and patients/clients.
For buyers and tenants, the combination of private restrooms, direct parking-lot entrances, and flexible suite sizes makes the building workable for medical and related office uses. The presence of three-phase, 220 power in the largest suite may also support certain back-of-house or lab-oriented requirements, while the shared hallway restrooms can support overflow traffic during busy hours.
Key Highlights
- Three adjoining suites totaling available office space: 1,422 SF, 1,700 SF, and 2,670 SF (available immediately).
- Each suite includes its own bathroom and separate entrances to the parking lot.
- 2,670 SF suite built as a dental laboratory with three‑phase, 220 power.
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
$72,578
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
4.84%
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%
$1,451,560
$1.5M
Cap Rate 7%
$1,036,829
$1.0M
Cap Rate 9%
$806,422
$806.4K
Market Conditions
NOI Build-Up for 5,792 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
$118.2K $20.40/SF
− Vacancy
−$21.4K −$3.69/SF
EGI
$96.8K $16.71/SF
− OpEx
−$24.2K −$4.18/SF
NOI
$72.6K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,451,560
Cap Rate 7%
$1,036,829
Cap Rate 9%
$806,422
Alternative Uses
Best Use
Office B
$1.04M
$907.2K – $1.21M
NOI $72,578 @ 7.0% cap · market cap 4.84%
Second Best
Healthcare Medical
$797.1K
$697.5K – $930.0K
NOI $55,798 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,632 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 14221, NY
55,275
Population
25,281
Households
2.2
Avg Household Size
48
Median Age
57%
College-Educated
96%
High-School Grad
23.4 sq mi
ZIP Area
2,362
Density / Sq Mi
$101,275
Median Household Income
$58,665
Median Earnings
$1,560
Median Rent
$298,500
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?
Office units - Three bright adjoining office suites offer separate entrances and private bathrooms with ample on-site parking.
Where is this office units located?
The property is located at 8600 Sheridan Drive Clarence, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three adjoining suites totaling available office space: 1,422 SF, 1,700 SF, and 2,670 SF (available immediately).; Each suite includes its own bathroom and separate entrances to the parking lot.; 2,670 SF suite built as a dental laboratory with three‑phase, 220 power.
