Medical Office
For Sale
$1,200,000
1916 Ocean Ave, Brooklyn, NY 11230
Commercial Sale, Brooklyn, NY
Property Size3,200 SF
Price / SF$375
Days on Market44
Property Features for 1916 Ocean Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Midwood
High school district
000000
Standard status
Active
APN
000000-000.000-6757-1401.000
Size
3,200 SF
Taxes and HOA fees
Tax Annual Amount
44796
Utilities
Heating system
Natural Gas, Hot Water(Heating), Electric (Heating)
Water source
Public
Building Details
Year built
2018
Building materials
Stucco
Listing Agency:
Statewide Properties LLC
(347) 560-4024
Listed By:
Vitaly Isaacs · License #10401300688
(917) 620-3605
Added: Aug 19
Changed: Oct 1
Last Checked: Oct 1 at 9:06PM
MLS# 11941709
Copyright © 2026 My State MLS. 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.
This 3,200-square-foot suite occupies the right side of a condominium building completed in 2018. The current layout has an approximately 200-square-foot entry corridor leading to a roughly 3,000-square-foot open area, along with a bathroom. Plumbing, sprinklers, electrical, mechanical systems, and other utilities are in place. Ceiling height is 8 feet 8 inches, with an additional 1 foot above the ceiling for wiring.
The property is on Ocean Avenue in Brooklyn. Public transportation, shopping, restaurants, and the beach are identified as nearby. Potential community-oriented applications cited for the space include medical, dental, chiropractic, adult or child daycare, tutoring, nonprofit office, religious, and community-center uses.
The property is on Ocean Avenue in Brooklyn. Public transportation, shopping, restaurants, and the beach are identified as nearby. Potential community-oriented applications cited for the space include medical, dental, chiropractic, adult or child daycare, tutoring, nonprofit office, religious, and community-center uses.
Key Highlights
- 3,200 square feet in a 2018 condominium building
- Approx. 200‑square‑foot entry corridor and 3,000‑square‑foot open area
- 8‑foot‑8‑inch ceilings with 1 additional foot above for wiring
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
$79,834
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
6.65%
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%
$1,596,680
$1.6M
Cap Rate 7%
$1,140,486
$1.1M
Cap Rate 9%
$887,044
$887.0K
Market Conditions
NOI Build-Up for 3,200 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
$138.2K $43.20/SF
− Vacancy
−$31.8K −$9.94/SF
EGI
$106.4K $33.26/SF
− OpEx
−$26.6K −$8.32/SF
NOI
$79.8K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /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%
$1,596,680
Cap Rate 7%
$1,140,486
Cap Rate 9%
$887,044
Alternative Uses
Best Use
Office B
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 6.65%
Second Best
Healthcare Medical
$1.06M
$927.4K – $1.24M
NOI $74,189 @ 7.0% cap · market cap 6.18%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,356
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - A vacant, utility-served space supports community uses such as medical and dental services.
Where is this medical office space located?
The property is located at 1916 Ocean Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,200 square feet in a 2018 condominium building; Approx. 200‑square‑foot entry corridor and 3,000‑square‑foot open area; 8‑foot‑8‑inch ceilings with 1 additional foot above for wiring
