2 Ellinwood DrNew Hartford, NY 13413

Property Details for 2 Ellinwood Dr

Year built

1980

Lot size

2.83 AC

Property size (Sq ft)

21,214 SF

Zone code

05 - COMMERCIAL

Property type

Office buildings

APN

304889 316.020-1-8

APU

30488931602018

Description

This exceptional investment opportunity presents a 48,529 square foot, multi-tenant medical office complex in New Hartford, New York. The property comprises two buildings situated on a 3.53-acre lot, offering excellent visibility and accessibility from Route 840 and Commercial Drive, Oneida County's main retail corridor. Currently housing Ellinwood Nurse Practitioners, Ellinwood Dental, and Associated Medical Professionals, the complex benefits from long-term leases in place, ensuring a stable income stream. The property is classified as a Class B office building and is offered on a gross lease basis. A significant advantage is the presence of a 4,500 square foot vacant suite available for lease, presenting an immediate opportunity to increase revenue. This turnkey investment is ideally suited for a discerning buyer seeking a well-established, multi-tenant medical office complex in a high-traffic location. The property's strategic location and existing tenant base provide a strong foundation for future growth and profitability. Detailed financial information is available upon request. This is a rare opportunity to acquire a substantial medical office complex in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,269,886

  6.5%

  $4,864,510

  7%

  $4,517,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,790,452

  Geo Method

  $2,771,821

• Alternative Use

  Use

  Valuation

  Residential

  $6,031,993

  Hospitality

  $5,525,273

  Educational

  $4,596,962

  Medical

  $4,755,059

  Retail

  $7,150,830

Location Insight

City

New Hartford

County

Oneida

State

New York

Latitude

43.091

Longitude

-75.3114

CBSA code

46540

CBSA name

UTICA-ROME, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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