Property profile

504 Central Ave Dunkirk, NY 14048

OFF-MARKET
Office buildings
Property ID
US63-6265117
8,440 SF 0.71 ac lot Built 1910
Entity Owned 16-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional investment opportunity presents a fully occupied medical office building situated at 504 Central Avenue in Dunkirk, New York. The property boasts 8,448 square feet of space, housed within a frame and masonry structure. Currently leased to Great Lakes Physician Practice (a UPMC affiliate) and WNY Urology, this building offers a stable and reliable income stream. Originally purchased in 2010 and extensively renovated in 2015, the building features modern amenities including an elevator, catering to the needs of its medical tenants. The 0.71-acre lot provides ample parking for 31 vehicles, strategically located at a signaled intersection with curb cuts on both Central Avenue and 5th Street. Its prime location across from Brooks Memorial Hospital places it within a vibrant residential and business district, benefiting from high visibility and convenient access. The building's proximity to the Dunkirk Historical Society, Washington Park, and the Dunkirk Library further enhances its desirability. The Dunkirk Middle School is also located nearby. This property offers a compelling investment opportunity due to its strong tenant occupancy, desirable location, and recent renovations. Note that a separate mixed-use medical and retail building at 37 West Main Street in Fredonia is available for purchase for an additional $665,000. The listing ID is B1545723.

Property profile

Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1910
Total area 8,440 SF
Lot 0.71 ac (30,845 SF)
Zoning code CBD
APN 060300 79.18-4-3
UPID US63-6265117

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic
  • Medical Clinic Physician
  • Physician
  • Physician
  • Physician

Location

504 Central Ave Dunkirk, NY 14048-2515
Dunkirk metro Census 35700 JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$290k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$290k

Owner & transaction history

since 2010
1 recorded transaction
2010
$100,000

Zoning & alternative use

CBD · Dunkirk, NY
Zoning description

The CBD is designed to provide for the concentration of public services (like general retail, service, finance, insurance and real estate) and related uses in the City of Dunkirk. In addition to providing general service…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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