Medical Suite in Co-op
For Sale
$499,000
901 Lexington Avenue, New York, NY 10065
Ground floor, renovated medical suite in a full-service co-op.
Property Size1,000 SF
Price / SF$499
Days on Market662
Property Features for 901 Lexington Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Residential
Amenities
Central air
Pet friendly
Doorman
Elevator
Good light
Building Details
Year Built
1907
Units
17
Listing Agency:
East Side
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Nov 21, 2024
Changed: Sep 3
Last Checked: Sep 13 at 6:55AM
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.
Located at 901 Lexington Avenue, Suite B is a ground floor medical suite available for sale inside a full-service co-op building. The renovated space features vinyl plank flooring and central air conditioning. It has a separate street entrance with no stairs. Currently configured as a physical therapy center, the layout of approximately 1,000 square feet features pre-war details, two restrooms, a recovery area, and a kitchenette. The wide-open layout is adaptable to any medical specialty. The property is easily accessible by public transportation via Upper East Side subway lines and bus routes. It is within close proximity to several top medical facilities in New York including Lenox Hill Hospital, Memorial Sloan Kettering Cancer Center, The Manhattan Eye, Ear, Nose and Throat Hospital, The Hospital for Special Surgery, Mount Sinai Medical Center, NY Presbyterian and Weill Cornell Hospitals.
Key Highlights
- Ground floor medical suite with separate street entrance.
- Renovated space featuring vinyl plank flooring and central air conditioning.
- Adaptable, wide‑open 1,000 sq ft layout.
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
$31,313
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
6.28%
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%
$626,260
$626.3K
Cap Rate 7%
$447,329
$447.3K
Cap Rate 9%
$347,922
$347.9K
Market Conditions
NOI Build-Up for 1,000 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
$51.5K $51.48/SF
− Vacancy
−$9.7K −$9.73/SF
EGI
$41.8K $41.75/SF
− OpEx
−$10.4K −$10.44/SF
NOI
$31.3K $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%
$626,260
Cap Rate 7%
$447,329
Cap Rate 9%
$347,922
Alternative Uses
Best Use
Office B
$447.3K
$391.4K – $521.9K
NOI $31,313 @ 7.0% cap · market cap 6.28%
Second Best
Healthcare Medical
$425.8K
$372.6K – $496.8K
NOI $29,808 @ 7.0% cap · market cap 5.97%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 34.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
34,916
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10065, NY
32,891
Population
22,734
Households
1.4
Avg Household Size
40
Median Age
86%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
82,228
Density / Sq Mi
$160,938
Median Household Income
$121,212
Median Earnings
$2,828
Median Rent
$1,368,200
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground floor, renovated medical suite in a full-service co-op.
Where is this medical office space located?
The property is located at 901 Lexington Avenue New York, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Ground floor medical suite with separate street entrance.; Renovated space featuring vinyl plank flooring and central air conditioning.; Adaptable, wide‑open 1,000 sq ft layout.
