500 5Th Ave Owego, NY 13827
- Office Properties & Spaces
- 7,000 SF
- 3.60 lot acres
Current Use by Public Records
- Guthrie Owego Fifth Avenue / Medical Clinic
- Guthrie Owego Fifth Avenue Walk-In Care / Medical Clinic / Walk-In Clinic
- Nasir Abdul-Wadud / Physician Assistant
- Patricia D. Pavlick, FNP / Nurse Practitioner / Family Practice Physician
- Elisabeth Corbett, PA / Family Practice Physician
Property Details for 500 5Th Ave
- Lot size
- 3.60 lot acres
- Property size
- 7,000 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional 7,000 square foot single-tenant medical office building presents a compelling investment opportunity in Owego, New York. Located at 500 5th Ave, this property sits on a sizable 3.6-acre lot (comprised of two parcels) and boasts a 100% occupancy rate with a current net lease in place. The Lourdes Walk-in Clinic occupies the entire building under a NN+ lease with 1.5 years remaining, offering a strong, stable income stream. The asking price is $925,000, translating to a compelling $132.14 per square foot and a 10.59% capitalization rate, based on a current Net Operating Income (NOI) of $97,950. The building is a single-story structure, ideal for its current use and offering potential for future adaptability. Lease options include a one-year renewal, providing flexibility for the future owner. Conveniently located with easy access to I-86, this property is well-positioned for continued success. This is a rare opportunity to acquire a high-performing medical office building with significant upside potential, either as a passive income investment or for future owner-occupancy after the current lease expires. The property is classified as both Creative Office and Medical Office space.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Owego
- County
- Tioga
- State
- New York
- Longitude
- -76.2496
- Latitude
- 42.1059
