Building Details

Buildings 1

Units 4

Tenancy Multi

Listing Agency: Bennett Williams Commercial

Listed By: Chad Stine · License #PA RS223285L Show Phone

Source: Crexi

Added: Jul 15, 2024 Changed: Oct 5 Last Checked: Oct 16 at 9:34AM

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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 / Yr

$124,833

Cap Rate

8.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,496,660 $2.5M

Cap Rate 7%

$1,783,329 $1.8M

Cap Rate 9%

$1,387,033 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,830 SF

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 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 (±1% cap)

NOI $124,833 @ 7.0% cap · market cap 8.26%

Second Best

Healthcare Medical

$555.0K

$485.6K – $647.5K (±1% cap)

NOI $38,850 @ 7.0% cap · market cap 2.57%

Theoretical Best

Office A

$2.27M

$1.98M – $2.64M (±1% cap)

NOI $158,694 @ 7.0% cap · market cap 10.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

AC Tinnitus Hearing Aid Store James L. Shafer, ... Physician James Lee Shafer Physician Carey C. Durand, ... Physician PHILLIP R JEANMENNE Alternative Medicine Practice

Suggested Use

Top Pick Law Firm Building Supply Auto Repair Shop (Bike/Boat/Book/etc) Store Computer & Electronic Repair Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Similar Off Market Nearby

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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.