Medical Office Condominium
832 40th Street C2, Brooklyn, NY 11232
Newly built first-floor and cellar office/medical condos sold as a package, suited to a range of community and care uses.
Type:Office
Property size:
3,239 SFPrice / SF:
$438/SF- Added:
- Feb 23, 2024
- Days on Market:
- 866
- Last Refresh:
- Jul 7 at 1:54 am
Property Features for 832 40th Street C2
General Information
- Standard status
- Active
- Size
- 3,239 SF
- Property subtype
- Office
Listing office Fang Fang Realty Inc
Listing date Feb 23, 2024
Source Penrealty
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 Fang Fang Realty Inc
HighLights
- Newly built commercial condo package: first‑floor and cellar spaces sold together
- First‑floor space totals 1,770 SF
- Cellar space totals 1,469 SF
- Suitable for a range of uses including senior centers, home care companies, medical offices, and training facilities
- Convenient transportation: minutes to D train station and B70 bus stop
- Nearby amenities include restaurants, supermarkets, and pharmacies
Overview
This newly built package offers commercial condominium space configured across a first floor and a cellar level. The first-floor portion is approximately 1,770 sq ft, with an additional approximately 1,469 sq ft in the cellar, creating a combined setup that can support professional operations requiring both primary and supplemental space.
The property is located at 832 40th Street C2 in Brooklyn, New York. Public remarks note convenient transportation access, with the D train station and the B70 bus stop described as minutes away. The area is also described as being close to day-to-day amenities such as restaurants, supermarkets, and pharmacies.
The layout and usage flexibility make this offering a practical fit for a variety of service-oriented tenants and owners. Public remarks indicate suitability for senior centers, home care companies, medical offices, training facilities, non-profit organizations, and children’s playground concepts, among other similar uses. For buyers seeking an owner-occupant or business operation space with both first-floor and lower-level components, this packaged condominium arrangement provides a defined footprint for planning and execution.
The property is located at 832 40th Street C2 in Brooklyn, New York. Public remarks note convenient transportation access, with the D train station and the B70 bus stop described as minutes away. The area is also described as being close to day-to-day amenities such as restaurants, supermarkets, and pharmacies.
The layout and usage flexibility make this offering a practical fit for a variety of service-oriented tenants and owners. Public remarks indicate suitability for senior centers, home care companies, medical offices, training facilities, non-profit organizations, and children’s playground concepts, among other similar uses. For buyers seeking an owner-occupant or business operation space with both first-floor and lower-level components, this packaged condominium arrangement provides a defined footprint for planning and execution.
Local 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 | $139.9k | $43.20 |
| − Vacancy | −$32.2k | −$9.94 |
| EGI | $107.7k | $33.26 |
| − OpEx | −$26.9k | −$8.32 |
| NOI | $80.8k | $24.95 |
3,239 SF · lease $43.20/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.35M
NOI $80,807 @ 7.0% cap · market cap 5.69%
Second Best
Healthcare Medical
$1.07M
$938.7K – $1.25M
NOI $75,093 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,732 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.997126
- Latitude
- 40.645957
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Newly built first-floor and cellar office/medical condos sold as a package, suited to a range of community and care uses.
Where is this office units located?
The property is located at 832 40th Street C2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: Newly built commercial condo package: first‑floor and cellar spaces sold together; First‑floor space totals 1,770 SF; Cellar space totals 1,469 SF
