Built-Out Medical Office
For Sale
$999,999
139 Centre Street #602, New York, NY 10013
Unit 602 provides clinical, administrative, and support areas within a flexible healthcare-oriented layout.
Property Size905 SF
Days on Market116
Property Features for 139 Centre Street #602
General Information
Standard status
Active
Size
905 SF
Property subtype
Commercial
Zoning
C6-4
Building Details
Building Size
905 SF
Listing Agency:
Ditommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 667-8000
Source:
Michaelfraulo
Added: May 7
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Ditommaso Real Estate
Investment Insights
Based on property information with market context.
Unit 602 is a fully built-out medical office condominium at 139 Centre Street in New York. The interior includes a reception and waiting area, multiple private exam or treatment rooms, consultation offices, an open treatment area, administrative workstations, file storage, staff offices, and a kitchen with break-room space. The floor plan separates patient-care functions from administrative and support areas, creating an organized setting for continued clinical operations or professional office use.
High ceilings, bright lighting, and multiple windows contribute to the interior environment. The property is designated C6-4 and is offered for owner-user sale. Its existing improvements support medical, dental, healthcare, wellness, or professional office applications.
High ceilings, bright lighting, and multiple windows contribute to the interior environment. The property is designated C6-4 and is offered for owner-user sale. Its existing improvements support medical, dental, healthcare, wellness, or professional office applications.
Key Highlights
- Medical/dental condominium with full build‑out
- Unit 602 at 139 Centre Street, New York, NY 10013
- Multiple private exam and treatment rooms
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
$28,338
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
2.83%
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%
$566,760
$566.8K
Cap Rate 7%
$404,829
$404.8K
Cap Rate 9%
$314,867
$314.9K
Market Conditions
NOI Build-Up for 905 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
$46.6K $51.48/SF
− Vacancy
−$8.8K −$9.73/SF
EGI
$37.8K $41.75/SF
− OpEx
−$9.4K −$10.44/SF
NOI
$28.3K $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%
$566,760
Cap Rate 7%
$404,829
Cap Rate 9%
$314,867
Alternative Uses
Best Use
Office B
$404.8K
$354.2K – $472.3K
NOI $28,338 @ 7.0% cap · market cap 2.83%
Second Best
Healthcare Medical
$385.4K
$337.2K – $449.6K
NOI $26,976 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,687 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36,609
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Unit 602 provides clinical, administrative, and support areas within a flexible healthcare-oriented layout.
Where is this medical office space located?
The property is located at 139 Centre Street #602 New York, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Medical/dental condominium with full build‑out; Unit 602 at 139 Centre Street, New York, NY 10013; Multiple private exam and treatment rooms
