500 5Th AveOwego, NY 13827

Property Details for 500 5Th Ave

Lot size

3.60 AC

Property size (Sq ft)

7,000 SF

Property type

Healthcare properties

Property subtype

Other office properties

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.

Location Insight

City

Owego

County

Tioga

State

New York

Latitude

42.1059

Longitude

-76.2496

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