Ground-Level Medical Office
For Sale
$649,000
333 E 34 Street New York, Manhattan, NY 10016
Commercial Sale, New York (Manhattan), NY
Property Size895 SF
Price / SF$725.14
Days on Market68
Property Features for 333 E 34 Street New York
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Standard status
Active
APN
0940-1006
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17713
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Building materials
Brick
Listing Agency:
Keller Williams Rlty Landmark · Keller Williams Realty
(718) 475-2700
Listed By:
Deirdre A. Folan · License #10301200720
(917) 251-4499
Added: Jun 29
Changed: Aug 19
Last Checked: Sep 4 at 8:06AM
MLS# 1019571
Copyright © 2026 OneKey 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 medical office condominium occupies 895 square feet on the ground-level first floor of the Devon Condominium. The layout includes a patient waiting area, a kitchen or reception zone, three offices, one full bathroom, and multiple closets. South-facing orientation provides the suite’s stated exposure, while brick construction, natural-gas heat, wall or window cooling units, public water, and public sewer serve the property.
The property is located at 333 E 34 Street in New York, NY 10016. Subway and bus service, including crosstown routes, are accessible from the area, with the Midtown Tunnel and Sea Streak Ferry also identified nearby. NYU Langone, restaurants, and shopping are part of the surrounding context.
The property is located at 333 E 34 Street in New York, NY 10016. Subway and bus service, including crosstown routes, are accessible from the area, with the Midtown Tunnel and Sea Streak Ferry also identified nearby. NYU Langone, restaurants, and shopping are part of the surrounding context.
Key Highlights
- 895 SF medical office condominium on the ground‑level first floor
- Layout includes a waiting area, kitchen or reception area, 3 offices, 1 full bath, and closets
- South‑facing suite in the Devon Condominium
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
$28,025
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
4.32%
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%
$560,500
$560.5K
Cap Rate 7%
$400,357
$400.4K
Cap Rate 9%
$311,389
$311.4K
Market Conditions
NOI Build-Up for 895 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
$46.1K $51.48/SF
− Vacancy
−$8.7K −$9.73/SF
EGI
$37.4K $41.75/SF
− OpEx
−$9.3K −$10.44/SF
NOI
$28.0K $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%
$560,500
Cap Rate 7%
$400,357
Cap Rate 9%
$311,389
Alternative Uses
Best Use
Office B
$400.4K
$350.3K – $467.1K
NOI $28,025 @ 7.0% cap · market cap 4.32%
Second Best
Healthcare Medical
$381.1K
$333.5K – $444.6K
NOI $26,678 @ 7.0% cap · market cap 4.11%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $155,945 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Petco Vaccination Clinic — 860 Broadway, New York, NY 10003
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condo suite with a reception area, three private offices, a full bath, and storage closets.
Where is this medical office space located?
The property is located at 333 E 34 Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 895 SF medical office condominium on the ground‑level first floor; Layout includes a waiting area, kitchen or reception area, 3 offices, 1 full bath, and closets; South‑facing suite in the Devon Condominium
