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 Market708
Property Features for 901 Lexington Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Residential
Site & Location
Neighborhood
Lenox Hill
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: Oct 25
Last Checked: Oct 30 at 2:18PM
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
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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 / Yr
$31,313
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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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
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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.
