Midtown East Medical/Professional
For Sale
$995,000
235 East 49th Street, New York, NY 10017
Duplex medical/professional space in Midtown East/Turtle Bay, approximately 1,450 SF.
Property Size1,450 SF
Price / SF$686.21
Days on Market457
Property Features for 235 East 49th Street
General Information
Standard status
Active
Size
1,450 SF
Building Details
Year Built
1926
Listing Agency:
East Side
(917) 602-5754
Listed By:
Paul L Wexler · License #30WE0902877
Source:
Corcoran
Added: Apr 30, 2025
Changed: Mar 16
Last Checked: Mar 16 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 East Side
Investment Insights
Based on property information with market context.
This duplex professional/medical space, formerly used as a work/live arrangement, is located in Midtown East/Turtle Bay, between 2nd and 3rd Avenue. It is near NYU Langone Health Hospital and NYC Health + Hospitals/Bellevue. The layout, encompassing approximately 1,450 square feet, includes a waiting and reception area, a four-bay PT/treatment area, three private treatment rooms, two offices/consults, an X-Ray room, a spinal decompression area, two full bathrooms, one restroom, and ample storage. The functional layout accommodates multiple providers and specialties. Equipment available includes: Digital X-Ray, a full array of PT modalities, a Cold Laser, DRX spinal decompression system, a Chattanooga Spinal Decompression System, two stationary spinal decompression tables, three "Hill" Auto Flexi Distraction/Adjusting tables, a DRX9000 spinal decompression machine, a DX Ultrasound, Active Therapeutic Movement equipment, a whole-body vibration system, and a Compression Extension Traction Chair. The suite is accessible via the medical street entrance or the main lobby. 235 East 49th Street is easily accessible by public transportation via the 4 and 6 train lines at Lexington Avenue and 51st Street, E and M train lines at 53rd and 3rd Avenue, Grand Central and the local bus routes (M15, M50, M101, M102, M103).
Key Highlights
- Prime Midtown East/Turtle Bay location, near NYU Langone and Bellevue Hospitals
- Equipped with advanced medical equipment including Digital X‑Ray and DRX9000
- Functional 1,450 sq ft layout with waiting area, 4‑bay PT area, 3 private rooms, 2 offices, X‑Ray room, and spinal decompression area
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.6k | $51.48 |
| − Vacancy | −$14.1k | −$9.73 |
| EGI | $60.5k | $41.75 |
| − OpEx | −$15.1k | −$10.44 |
| NOI | $45.4k | $31.31 |
1,450 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$648.6K
$567.5K – $756.7K
NOI $45,403 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$617.5K
$540.3K – $720.4K
NOI $43,222 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$3.61M
$3.16M – $4.21M
NOI $252,648 @ 7.0% cap · market cap 25.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
64,721
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Duplex medical/professional space in Midtown East/Turtle Bay, approximately 1,450 SF.
Where is this medical office space located?
The property is located at 235 East 49th Street New York, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Midtown East/Turtle Bay location, near NYU Langone and Bellevue Hospitals; Equipped with advanced medical equipment including Digital X‑Ray and DRX9000; Functional 1,450 sq ft layout with waiting area, 4‑bay PT area, 3 private rooms, 2 offices, X‑Ray room, and spinal decompression area
