200 Sterling DrOrchard Park, NY 14127

Property Details for 200 Sterling Dr

Year built

1997

Lot size

3.89 AC

Property size (Sq ft)

28,987 SF

Zone code

I1

Property type

Office buildings

APN

146089 152.19-1-23

APU

14608915219123

Description

This exceptional Class A medical office building, Sterling Medical Park, is situated on 3.89 acres in Orchard Park, NY, at 200 Sterling Dr, 14127. Built in 1997, this single-story building offers a total of 28,987 square feet of rentable space, divided into six suites. Currently, three suites are available, offering flexible space options ranging from 2,000.22 square feet to 3,136.42 square feet. Suites 300 and 400 can be combined to create a larger contiguous space. The minimum divisible space is 2,000 square feet, with a maximum contiguous space of 5,137 square feet. Ample parking is provided, with a ratio of 5 spaces per 1,000 square feet. The property boasts a convenient location and offers a strong opportunity for medical professionals seeking modern, efficient office space. Tenant Improvement (TI) allowances will be determined based on lease terms and tenant creditworthiness. Current operating expenses, including common area maintenance (CAM), taxes, and utilities, are $7.91 per square foot. This presents a compelling investment opportunity in a thriving medical market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,258,340

  6.5%

  $4,853,852

  7%

  $4,507,148

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,773,192

  Geo Method

  $1,823,572

• Alternative Use

  Use

  Valuation

  Residential

  $6,018,776

  Hospitality

  $5,513,167

  Educational

  $4,586,890

  Medical

  $4,744,640

  Retail

  $7,135,162

Location Insight

City

Orchard Park

County

Erie

State

New York

Latitude

42.7899

Longitude

-78.7674

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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