Medical Office Condominium
For Sale
Contact for pricing
1776 S Queen St, York, PA 17403
Condo units leased to OSS Orthopedic Hospital until 2029.
Property Size7,830 SF
Price / SF$193.07
Days on Market780
Property Features for 1776 S Queen St
General Information
Standard status
Active
Size
7,830 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Net Operating Income
$113,381
Building Details
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Bennett Williams Commercial
Listed By:
Chad Stine · License #PA RS223285L
(717) 843-5555
Source:
Crexi
Added: Jul 15, 2024
Changed: Aug 8
Last Checked: Sep 2 at 8:34AM
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 Bennett Williams Commercial
Investment Insights
Based on property information with market context.
The property at 1776 South Queen Street is a medical office building configured as condominium units leased to multiple tenants. This offering includes four condominium units within the building, all currently leased to OSS Orthopedic Hospital. The long-term lease with OSS Orthopedic Hospital extends until 2029, providing investment stability. OSS Orthopedic Hospital has been operating in the York market for over 20 years. The property size is 7830 square feet.
Key Highlights
- Long‑term lease in place with OSS Orthopedic Hospital until 2029, providing investment stability.
- Four condominium units are leased to a single tenant, OSS Orthopedic Hospital.
- OSS Orthopedic Hospital has been a staple in the York market for over 20 years.
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
$124,833
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
8.26%
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%
$2,496,660
$2.5M
Cap Rate 7%
$1,783,329
$1.8M
Cap Rate 9%
$1,387,033
$1.4M
Market Conditions
NOI Build-Up for 7,830 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
$171.9K $21.96/SF
− Vacancy
−$5.5K −$0.70/SF
EGI
$166.4K $21.26/SF
− OpEx
−$41.6K −$5.31/SF
NOI
$124.8K $15.94/SF
Area
York County, PA
Vacancy
3.20%
Lease Rate
$21.96 /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%
$2,496,660
Cap Rate 7%
$1,783,329
Cap Rate 9%
$1,387,033
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,833 @ 7.0% cap · market cap 8.26%
Second Best
Healthcare Medical
$555.0K
$485.6K – $647.5K
NOI $38,850 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,694 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 17403, PA
40,344
Population
16,490
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
89%
High-School Grad
20.6 sq mi
ZIP Area
1,958
Density / Sq Mi
$72,233
Median Household Income
$38,105
Median Earnings
$1,072
Median Rent
$206,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Dr. Suzanne R. Weaver DMV — 2129 S Queen St, York, PA 17403
- London Charles E DVM — 2129 S Queen St, York, PA 17403
- Animal Emergency & Referral Center of York, A Thrive Pet Healthcare Partner — 1640 S Queen St, York, PA 17403
- Winding Hill Veterinary Clinic — 1640 S Queen St, York, PA 17403
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condo units leased to OSS Orthopedic Hospital until 2029.
Where is this medical office space located?
The property is located at 1776 S Queen St York, PA.
What is the asking price?
The asking price for this property is $1,511,746.
What are key features of this property?
This property features: Long‑term lease in place with OSS Orthopedic Hospital until 2029, providing investment stability.; Four condominium units are leased to a single tenant, OSS Orthopedic Hospital.; OSS Orthopedic Hospital has been a staple in the York market for over 20 years.
