Medical Suite in Co-op
901 Lexington Avenue New York, NY 10065
For Sale
$499,000
Ground floor, renovated medical suite in a full-service co-op.
Property Size1,000 SF
Price / SF$499
Days on Market611
Property Features for 901 Lexington Avenue
General Information
- Standard status
- Active
- Size
- 1,000 SF
- Property subtype
- Residential
Building Details
- Year Built
- 1907
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Nov 21, 2024
Changed: Jul 6
Last Checked: Jul 24 at 7:39AM
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 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 | $51.5k | $51.48 |
| − Vacancy | −$9.7k | −$9.73 |
| EGI | $41.8k | $41.75 |
| − OpEx | −$10.4k | −$10.44 |
| NOI | $31.3k | $31.31 |
1,000 SF · lease $51.48/SF/yr · vacancy 18.90% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
AREA Interior Design
Interior Design
Dr. Farhad Mir
Dental Office
Burney Croll
Dental Office
Lenox Hill Prosthodontics
Dental Office
Michael Gulizio
Dental Office
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- Vanessa Biegen — 510 E 62nd St, New York, NY 100658314
- Kristina Willoughby — 510 E 62nd St, New York, NY 100658314
- TriviumVet — 345 Park Ave, New York, NY 10154
FAQs
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.
