Medical Office Building with
For Sale
$4,900,000
8120 15th Avenue, Brooklyn, NY 11228
Commercial, Brooklyn, NY
Property Size5,700 SF
Lot Size0.20 Acres
Price / SF$859.65
Days on Market134
Property Features for 8120 15th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R4
Parking features
Garage - Attached
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
5,700 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
30171
Building Details
Year built
1931
Floors in Building
1
Number of units
1
Building materials
Brick
Roof type
Asphalt
Listing Agency:
Peerless Properties Corp.
Listed By:
Richard Dinerman · License #35DIO767533
(718) 368-3305
Added: May 21
Changed: Sep 5
Last Checked: Oct 1 at 6:06PM
MLS# 501656
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.
This medical office property contains 5,700 square feet of existing space and is currently operating as an active medical facility. The building was constructed in 1931 with brick exterior walls, an asphalt roof, and an attached garage. The existing structure can remain in medical use, subject to applicable zoning and permitting requirements.
The property occupies a 0.1963-acre lot in Brooklyn and carries R4 zoning. The site includes on-site parking and a minimum required lot size of 2,850 square feet with 30 feet of frontage. The owner will allow prospective purchasers time to pursue zoning and permit approvals.
The property occupies a 0.1963-acre lot in Brooklyn and carries R4 zoning. The site includes on-site parking and a minimum required lot size of 2,850 square feet with 30 feet of frontage. The owner will allow prospective purchasers time to pursue zoning and permit approvals.
Key Highlights
- 5,700‑square‑foot existing medical office built in 1931
- R4 zoning with QRS and Outer T.Z. designations
- 0.1963‑acre lot with 8,550 square feet of lot area
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
$142,204
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
2.90%
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%
$2,844,080
$2.8M
Cap Rate 7%
$2,031,486
$2.0M
Cap Rate 9%
$1,580,044
$1.6M
Market Conditions
NOI Build-Up for 5,700 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
$246.2K $43.20/SF
− Vacancy
−$56.6K −$9.94/SF
EGI
$189.6K $33.26/SF
− OpEx
−$47.4K −$8.32/SF
NOI
$142.2K $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%
$2,844,080
Cap Rate 7%
$2,031,486
Cap Rate 9%
$1,580,044
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,204 @ 7.0% cap · market cap 2.90%
Second Best
Healthcare Medical
$1.89M
$1.65M – $2.20M
NOI $132,149 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$4.72M
$4.13M – $5.51M
NOI $330,372 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,148
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Animal Clinic of 20th avenue (Dr. Adrian Alexandru, Dr. Gary Swails, Dr. A. Douglas ) — 8317 20th ave, brooklyn, ny 11214
- Horovitz E DVM — 8317 20th Ave, Brooklyn, NY 11214
- Bensonhurst Veterinary Care — 7424 20th Ave, Brooklyn, NY 11204
- Mary Martin — 7624 New Utrecht Ave, Brooklyn, NY 112141022
- Brooklyn Veterinary Group — 7624 New Utrecht Ave, Brooklyn, NY 11214
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical facility with attached garage, brick construction, and R4 zoning in Brooklyn.
Where is this medical office space located?
The property is located at 8120 15th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 5,700‑square‑foot existing medical office built in 1931; R4 zoning with QRS and Outer T.Z. designations; 0.1963‑acre lot with 8,550 square feet of lot area
