Dyker Heights Commercial
For Sale
Contact for pricing
1302 83rd Street 001, Brooklyn, NY 11228
1,000 SF commercial space in Dyker Heights neighborhood.
Property Size1,000 SF
Price / SF$598.80
Days on Market638
Property Features for 1302 83rd Street 001
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
Qikang Mei · License #NY 10401207839
Source:
Crexi
Added: Nov 8, 2024
Changed: Aug 8
Last Checked: Aug 8 at 8:22AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
Located in the Dyker Heights neighborhood, this 1,000 square-foot commercial space is planned for health care but can also be used as adult care, a medical office, a nursing home, a professional office, or after-school tutoring classes. The space can be connected to the adjacent unit, expanding it up to 2,300 square feet. Common charges include water. The property benefits from a 25-year tax abatement.
Key Highlights
- Prime Dyker Heights location.
- Versatile usage potential: suitable for healthcare, adult care, medical office, nursing home, professional office, after‑school tutoring, and more.
- Potential for expansion: can be connected to the adjacent space for a total of 2300 square feet.
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
$24,948
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
4.17%
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%
$498,960
$499.0K
Cap Rate 7%
$356,400
$356.4K
Cap Rate 9%
$277,200
$277.2K
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
$43.2K $43.20/SF
− Vacancy
−$9.9K −$9.94/SF
EGI
$33.3K $33.26/SF
− OpEx
−$8.3K −$8.32/SF
NOI
$24.9K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /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%
$498,960
Cap Rate 7%
$356,400
Cap Rate 9%
$277,200
Alternative Uses
Best Use
Office B
$356.4K
$311.9K – $415.8K
NOI $24,948 @ 7.0% cap · market cap 4.17%
Second Best
Healthcare Medical
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$828.0K
$724.5K – $966.0K
NOI $57,960 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,133
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 1,000 SF commercial space in Dyker Heights neighborhood.
Where is this medical office space located?
The property is located at 1302 83rd Street 001 Brooklyn, NY.
What is the asking price?
The asking price for this property is $598,800.
What are key features of this property?
This property features: Prime Dyker Heights location.; Versatile usage potential: suitable for healthcare, adult care, medical office, nursing home, professional office, after‑school tutoring, and more.; Potential for expansion: can be connected to the adjacent space for a total of 2300 square feet.
