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New Hartford, NY - Utica Office Building

$10,742,000

125 Business Park Drive, Utica, NY 13502

Active
Last Updated: 06/05/2024

7.25

Cap Rate

71,120 sqft

Building Size

Details:
Cap Rate:    7.25%
Building Size:    71,120 sqft
Occupancy:    100%
Year Built:    1990
Description:

- Utica Medical Center is a two-story, 71,120 SF, class B medical office building constructed in 1990
- The center is currently 100% occupied
- Eight of the eleven tenants (93% of economic) have scheduled rental increases, generating NOI growth and hedging against inflation
- New roof with 20 year warranty

- The subject property is less than 2 miles to New Hartford Consumer Square (anchored by Walmart Supercenter, Michaels, Bed Bath & Beyond, and TJ Max) and Sangertown Square (anchored by Target, Macy’s, Dick’s, and JCPenney)
- The site is less than 3 miles to Riverside Center (anchored by Burlington, Walmart Supercenter and Lowe’s)
- Other nearby national/credit tenants include The Home Depot, Hobby Lobby, Jo-Ann, Rite Aid, Walgreens, and ALDI
- Strong tenant synergy promotes crossover shopping to the subject property

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Today's Available Mortgage Rates

125 Business Park Drive, Utica, New York 13502

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 05/30/2025
BankLender #1049
5 Year Fixed
25 Year Amortization
Interest rate 5.96% 5 Year Fixed
Mo. Payment$51,711 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 75% LTV $0 Lender fees
Loan Amount $8,056,500 Loan Amount
Details
BankLender #1068
7 Year Fixed
25 Year Amortization
Interest rate 6.06% 7 Year Fixed
Mo. Payment$52,204 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 75% LTV $0 Lender fees
Loan Amount $8,056,500 Loan Amount
Details
BankLender #785
10 Year Fixed
25 Year Amortization
Interest rate 6% 10 Year Fixed
Mo. Payment$48,448 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 70% LTV $0 Lender fees
Loan Amount $7,519,400 Loan Amount
Details
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CommLoan is providing quotes for information purposes only. For additional information on the largest commercial real estate lending marketplace, visit: www.commloan.com.

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