Renovated Dental Suite For
For Sale
Contact for pricing
1 E 83rd St, New York, NY
724 SF renovated dental suite with private street entrance.
Property Size724 SF
Lot Size0.15 Acres
Price / SF$1,103
Days on Market628
Property Features for 1 E 83rd St
General Information
Standard status
Active
Size
724 SF
Lot size
0.15 Acres
Property subtype
OFFICE
Listing Agency:
The Corcoran Group | East Side
(800) 544-4055
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Moodyscre
Added: Dec 20, 2024
Changed: Aug 11
Last Checked: Sep 8 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Corcoran Group | East Side
Investment Insights
Based on property information with market context.
Located on the Upper East Side at 8 East 84th Street, the ground floor suite offers 724 square feet of renovated space with a private street entrance. This dental suite features three operatories, each equipped with wall and ceiling-mounted television monitors. Additional features include a sterilization room, a lab, an office/consult area, a kitchenette, a restroom, a waiting room, and a reception area. The medical installation is enhanced by granite floors, overhead lighting, a speaker system, and central air conditioning throughout. The property is easily accessible by public transportation via the 6 train at 86th St as well as Upper East Side bus routes. The building is proximate to Lenox Hill Hospital and Mount Sinai.
Key Highlights
- Renovated 724 sq ft ground floor dental suite with private street entrance.
- Fully equipped with three operatories, sterilization room, lab, office/consult, kitchenette, restroom, waiting room and reception.
- Pristine medical installation with granite floors, overhead lighting, speaker system and central air conditioning.
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
$22,670
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
2.84%
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%
$453,400
$453.4K
Cap Rate 7%
$323,857
$323.9K
Cap Rate 9%
$251,889
$251.9K
Market Conditions
NOI Build-Up for 724 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
$37.3K $51.48/SF
− Vacancy
−$7.0K −$9.73/SF
EGI
$30.2K $41.75/SF
− OpEx
−$7.6K −$10.44/SF
NOI
$22.7K $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%
$453,400
Cap Rate 7%
$323,857
Cap Rate 9%
$251,889
Alternative Uses
Best Use
Office B
$323.9K
$283.4K – $377.8K
NOI $22,670 @ 7.0% cap · market cap 2.84%
Second Best
Healthcare Medical
$308.3K
$269.8K – $359.7K
NOI $21,581 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.10M
NOI $126,150 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,795
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - 724 SF renovated dental suite with private street entrance.
Where is this medical office space located?
The property is located at 1 E 83rd St New York, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Renovated 724 sq ft ground floor dental suite with private street entrance.; Fully equipped with three operatories, sterilization room, lab, office/consult, kitchenette, restroom, waiting room and reception.; Pristine medical installation with granite floors, overhead lighting, speaker system and central air conditioning.
