Fully Built-Out Medical
For Sale
$999,999
139 Centre Street, New York, NY 10013
Commercial, New York, NY
Property Size905 SF
Lot Size0.02 Acres
Price / SF$1,104
Days on Market131
Property Features for 139 Centre Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C6-4
Subdivision
China Town
Standard status
Active
Size
905 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
12973
Building Details
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 987-7900
Added: May 7
Changed: Sep 5
Last Checked: Sep 14 at 9:06AM
MLS# 501213
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Unit 602 is a 905-square-foot medical office condominium with a fully built-out interior and a practical full-floor configuration. The suite includes a reception and waiting area, several private exam or treatment rooms, consultation offices, an open treatment area, administrative workstations, file storage, staff offices, and a fully equipped kitchen and break room. High ceilings, bright lighting, and multiple windows contribute to the interior environment.
The layout separates patient-care, administrative, and support functions within a single suite. The property is in strong functional condition and is positioned for continued medical use, with adaptability for healthcare, wellness, or professional office occupancy. The building is brick construction with a flat roof, and the property is zoned C6-4.
The layout separates patient-care, administrative, and support functions within a single suite. The property is in strong functional condition and is positioned for continued medical use, with adaptability for healthcare, wellness, or professional office occupancy. The building is brick construction with a flat roof, and the property is zoned C6-4.
Key Highlights
- 905 SF medical office condominium in Unit 602
- Fully built‑out suite with reception, waiting, exam, treatment, and consultation areas
- Open treatment area supports dental or other clinical use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,338
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$566,760
$566.8K
Cap Rate 7%
$404,829
$404.8K
Cap Rate 9%
$314,867
$314.9K
Market Conditions
NOI Build-Up for 905 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.6K $51.48/SF
− Vacancy
−$8.8K −$9.73/SF
EGI
$37.8K $41.75/SF
− OpEx
−$9.4K −$10.44/SF
NOI
$28.3K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$566,760
Cap Rate 7%
$404,829
Cap Rate 9%
$314,867
Alternative Uses
Best Use
Office B
$404.8K
$354.2K – $472.3K
NOI $28,338 @ 7.0% cap · market cap 2.83%
Second Best
Healthcare Medical
$385.4K
$337.2K – $449.6K
NOI $26,976 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,687 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium suite configured for clinical care, administrative functions, and patient reception.
Where is this medical office space located?
The property is located at 139 Centre Street New York, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 905 SF medical office condominium in Unit 602; Fully built‑out suite with reception, waiting, exam, treatment, and consultation areas; Open treatment area supports dental or other clinical use
