Medical Office Investment Opportunity
100% Leased Medical Office
Marketing description
Medical, Fully Leased, 5 year terms remaining, 8% Cap, newly reduced property taxes.
90 Erie Canal, a fully leased medical office investment featuring an 8% cap rate and a motivated seller. A recent assessment appeal has reduced property taxes by $9,400 effective May 1, 2026.
Property Highlights:
- Tenant 1 (5,500 sq. ft.): Modified gross lease through June 2032 with 2% annual increases and two 5-year options. Includes new HVAC, flooring, and an additional ADA bathroom.
- Tenant 2 (1,600 sq. ft.): Lease through Q1 2031 with recent paint, flooring, and hot water tank updates.
- Both units include kitchenettes, private entrances, dedicated signage, and separate utilities (except water).
Financial projections are based on annualized Q1 data and the new tax rate. To review the full rent roll and financials, please return a signed Confidentiality Agreement (CA). Showings require 24-hour notice; please do not disturb the tenants.
Investment highlights
- Effective May 1, 2026, reassessment bringing a $9400 reduction in taxes
- 8% CAP
- New mechanicals, and fresh buildouts.
- Annual rent increases
- Professionally managed
- Solid, established tenants
- 5 years remaining on both leases
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