Arnold Gregory Office Building | 243 S Main St
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Arnold Gregory Office Building 243 S Main St
61,969 SF 100% Leased Office Building Albion, NY 14411 $2,000,000 ($32/SF)
Executive Summary
Benchmark Realty Advisors is pleased to present The Arnold Gregory Complex located in Albion, NY. Built as a hospital in 1957 The Arnold Gregory Complex offers approximately 60,000 SF of medical/office space on two floors with ample on-site parking. The property is currently used as a multi-tenant office building and it sits at approximately 75% occupancy with a number of smaller, short-term office/medical tenants. A new owner of this facility could continue to run it as a commercial investment property or there is potential to convert to residential. The design of the facility with ample natural light on either side of a central corridor, combined with the “PC” zoning and flexible nature of the in-place leases make this a very appealing project for an adaptive reuse residential development.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
61,969 SF
Building Class
B
Year Built/Renovated
1957/1978
Price
$2,000,000
Price Per SF
$32
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
30,984 SF
Slab To Slab
10’
Building FAR
0.35
Lot Size
4.12 AC
Opportunity Zone
Yes
Zoning
07 - 465 - Professional Building
Parking
220 Spaces (3.14 Spaces per 1,000 SF Leased)
Amenities
- Fitness Center
- Monument Signage
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 342001-073-010-0002-052-011 | Improvements Assessment | $464,900 |
| Land Assessment | $125,000 | Total Assessment | $589,900 |
PROPERTY TAXES
Parcel Number
342001-073-010-0002-052-011
Land Assessment
$125,000
Improvements Assessment
$464,900
Total Assessment
$589,900
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Arnold Gregory Office Building | 243 S Main St
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