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6934 Elaine Dr 5,220 SF Office Building Niagara Falls, NY 14304 $1,576,192 CAD ($301.95 CAD/SF) 9.11% Cap Rate
Investment Highlights
- Over 9% capitalization rate
- Occupied by one of the busiest women's health medical practices in Western NY
- Built in 2007
- Back up Generator
Executive Summary
Investment Opportunity! – Over 9% Cap Rate
Exceptional investment opportunity featuring one of the busiest women's health medical practices in Western New York.
This well-maintained 5,220± square foot medical office building, constructed in 2007, provides investors with stable income backed by an established and thriving medical practice.
The current owner will execute a new 5-year lease at closing, with two additional 2-year renewal options to be negotiated.
In addition, the property benefits from a 5-year lease with an existing subtenant.
The property has also recently undergone a successful tax assessment challenge, resulting in reduced real estate taxes, which improves the property's net operating income and overall investment performance.
Exceptional investment opportunity featuring one of the busiest women's health medical practices in Western New York.
This well-maintained 5,220± square foot medical office building, constructed in 2007, provides investors with stable income backed by an established and thriving medical practice.
The current owner will execute a new 5-year lease at closing, with two additional 2-year renewal options to be negotiated.
In addition, the property benefits from a 5-year lease with an existing subtenant.
The property has also recently undergone a successful tax assessment challenge, resulting in reduced real estate taxes, which improves the property's net operating income and overall investment performance.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
5,220 SF
Building Class
A
Year Built
2007
Price
$1,576,192 CAD
Price Per SF
$301.95 CAD
Cap Rate
9.11%
NOI
$143,666 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,220 SF
Building FAR
0.13
Lot Size
0.95 AC
Zoning
I1 - Business Park (Light Industrial)” district
Parking
38 Spaces (7.28 Spaces per 1,000 SF Leased)
Amenities
- Smoke Detector
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 294000-161-011-0005-003-000 | Improvements Assessment | $630,027 CAD |
| Land Assessment | $28,880 CAD | Total Assessment | $658,907 CAD |
Property Taxes
Parcel Number
294000-161-011-0005-003-000
Land Assessment
$28,880 CAD
Improvements Assessment
$630,027 CAD
Total Assessment
$658,907 CAD
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6934 Elaine Dr
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