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Property Detail

North Main Street
Village Medical Park is a two-building, well-maintained 29,000-square-foot medical office campus .
$700,000
Manufacturer: https://www.cbre.com/

Description

  • Village Medical Park is a two-building, well-maintained 29,000-square-foot medical office campus on 3.56 acres.
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  • Fully leased to long-term tenants, including anchor tenant Associates for Women’s Medicine, providing immediate cash flow.
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  • Village Medical Park is close to major retailers, including Wegmans, Lowe’s, The Home Depot, and several national fast-food chains.
  • Less than 1 mile from the I-481/I-81 interchange and near healthcare institutions like St. Joseph’s Health Hospital and Upstate University Hospital.
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  • Along a main thoroughfare and near key highways, the campus benefits from high visibility and pylon signage exposed to over 12,000 VPD.
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  • With nearly 100,000 residents within a 5-mile radius and a consumer spending power of $1.3 billion, the area boasts a robust market.

Executive Summary

Village Medical Park is a prime two-building medical office campus located at 792 and 792 1/2 North Main Street in North Syracuse, New York. Built in 1985 and 1988 and renovated in the early 2000s, the property offers 29,000 gross square feet of Class B office space spanning the two buildings on 3.56 acres. The property features modern amenities, including ample parking, pylon signage visible to over 12,000 daily vehicles, and professionally landscaped grounds. The newer building includes an elevator and skylights in the main floor waiting area, enhancing the comfort of its medical tenants. Fully leased, the property’s anchor tenant, Associates for Women’s Medicine, is contracted through 2031 with an additional 10-year extension option, offering a stable investment opportunity with immediate cash flow.
Village Medical Park is close to critical infrastructure, less than a mile from the Interstate 481/Interstate 81 interchange. The area is surrounded by major retailers such as Wegmans, Lowe’s, The Home Depot, and Price Chopper, as well as national fast-food chains, offering both convenience and strong traffic. Additionally, nearby major healthcare institutions such as St. Joseph’s Health Hospital, Upstate University Hospital, and SUNY Upstate Medical University further increase the appeal for medical professionals seeking strategic office space.
North Syracuse, located in Onondaga County, is part of a vibrant market with nearly 100,000 residents within 5 miles, a consumer spending pool of $1.3 billion, and a daytime employment population of 71,000. The area’s affordability, excellent quality of life, and easy access to major attractions like the Adirondacks, Finger Lakes, and New York City make it an attractive place to live, work, and invest. With the ongoing development of major projects such as the new Micron plant in Clay, which is projected to bring 50,000 jobs to the area, Village Medical Park is poised to benefit from the growth of the local economy. 792 and 792 1/2 N Main Street is an exceptional investment opportunity in a growing and dynamic region.

Medical Office with Strong NOI

Listing ID : 00576

SKU: 576

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Price History

DateEventPrice
December 3 2024Listed$700,000.00