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Northtown Professional Office Building 350 Alberta Dr 22,584 SF 76% Leased Office Building Amherst, NY 14226 $3,197,621 CAD ($141.59 CAD/SF) 8.57% Cap Rate
Investment Highlights
- 18 suite medical office building with 165 parking spaces
- Substantial upside filling vacant space and raising lease rates to market
- Site is suitable for redevelopment to retail or residential use
- 86% occupancy
- Adjacent to Sheridan Drive retail corridor
- Amherst is home to many medical office users
Executive Summary
The location, over two acres, just one block north of Sheridan Drive in Amherst is suitable for conversion to other office uses or multifamily or retail use.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$461,734
|
$20.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$63,088
|
$2.79
|
| Effective Gross Income |
$398,646
|
$17.65
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$124,672
|
$5.52
|
| Net Operating Income |
$273,974
|
$12.13
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $461,734 |
| Annual Per SF | $20.45 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $63,088 |
| Annual Per SF | $2.79 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $398,646 |
| Annual Per SF | $17.65 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $124,672 |
| Annual Per SF | $5.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $273,974 |
| Annual Per SF | $12.13 |
Property Facts
Amenities
- Atrium
- Bus Line
- Controlled Access
- Courtyard
- Signage
- Reception
- Partitioned Offices
- Wi-Fi
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
22,584 sq. ft. two-story professional office building with 18,451 sq. ft. rentable space on Alberta Drive in the town of Amherst. There are 18 office suites that open off a large interior atrium. A parking lot surrounds the building with 165 parking spaces. The rear building entrance has a ramp and an interior handicap elevator serves both floors. Rental price for space as-is.
22,584 sq. ft. two-story professional office building with 18,451 sq. ft. rentable space on Alberta Drive in the town of Amherst. There are 18 office suites that open off a large interior atrium. A parking lot surrounds the building with 165 parking spaces. The rear building entrance has a ramp and an interior handicap elevator serves both floors. Rent is for space as-is
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 106 | 882 SF | Office | - | Now |
| 2nd Fl-Ste 208 | 955 SF | Office | - | Now |
1st Fl-Ste 106
| Size |
| 882 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
2nd Fl-Ste 208
| Size |
| 955 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste 106
| Size | 882 SF |
| Space Use | Office |
| Build-Out | - |
| Available | Now |
22,584 sq. ft. two-story professional office building with 18,451 sq. ft. rentable space on Alberta Drive in the town of Amherst. There are 18 office suites that open off a large interior atrium. A parking lot surrounds the building with 165 parking spaces. The rear building entrance has a ramp and an interior handicap elevator serves both floors. Rental price for space as-is.
2nd Fl-Ste 208
| Size | 955 SF |
| Space Use | Office |
| Build-Out | - |
| Available | Now |
22,584 sq. ft. two-story professional office building with 18,451 sq. ft. rentable space on Alberta Drive in the town of Amherst. There are 18 office suites that open off a large interior atrium. A parking lot surrounds the building with 165 parking spaces. The rear building entrance has a ramp and an interior handicap elevator serves both floors. Rent is for space as-is
Property Taxes
| Parcel Number | 142289-067-060-0001-014-000 | Improvements Assessment | $1,232,766 CAD (2025) |
| Land Assessment | $1,397,135 CAD (2025) | Total Assessment | $2,629,901 CAD (2025) |
Property Taxes
Presented by
Brian Heine - Licensed Real Estate Broker
Northtown Professional Office Building | 350 Alberta Dr
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