Five-Story Medical Office
1523 Voorhies Ave Brooklyn, NY 11235
For Sale
$8,100,000
Five-story building is fully utilized for medical and professional office use with a well-appointed lobby and high-quality interior finishes.
Property Size18,858 SF
Price / SF$429.53
Days on Market95
Property Features for 1523 Voorhies Ave
General Information
- Standard status
- Active
- Size
- 18,858 SF
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Vladimir Levitan · License #10301214390
(718) 612-3088
Source:
Exprealty
Added: Apr 20
Changed: Jul 22
Last Checked: Jul 23 at 12:24PM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
Five-story commercial building currently configured for medical and professional office use. The property features a well-appointed lobby with high-quality finishes, extensive built-in cabinetry, and a maintained interior. Building systems are described as being in excellent working condition to support day-to-day operations, and the building is fully utilized.
The offering is for sale and is located in a central area of Sheepshead Bay, Brooklyn. The property is presented as generating strong, stable income, with a projected cap rate of approximately 7%.
The sale is also described as including an assumable $5M mortgage at an attractive 3.78% interest rate.
The offering is for sale and is located in a central area of Sheepshead Bay, Brooklyn. The property is presented as generating strong, stable income, with a projected cap rate of approximately 7%.
The sale is also described as including an assumable $5M mortgage at an attractive 3.78% interest rate.
Key Highlights
- Five‑story commercial building configured for medical and professional office use
- Well‑appointed lobby and high‑quality interior finishes, including extensive built‑in cabinetry
- All building systems are in excellent working condition for day‑to‑day operations
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 | $814.7k | $43.20 |
| − Vacancy | −$187.4k | −$9.94 |
| EGI | $627.3k | $33.26 |
| − OpEx | −$156.8k | −$8.32 |
| NOI | $470.5k | $24.95 |
18,858 SF · lease $43.20/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.72M
$5.88M – $7.84M
NOI $470,469 @ 7.0% cap · market cap 5.81%
Second Best
Healthcare Medical
$6.25M
$5.47M – $7.29M
NOI $437,204 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$15.61M
$13.66M – $18.22M
NOI $1,093,010 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Friendly Family Fitness ...
Gym & Fitness Center
Columbus Anti-Aging Medicine ...
Physician
Prospect Park Medical ...
Medical Clinic
Kseniya Slobodyanyuk, MD
Physician
Vsevolod Rudoy
Physician
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FAQs
What type of property is this?
Medical Office Space - Five-story building is fully utilized for medical and professional office use with a well-appointed lobby and high-quality interior finishes.
Where is this medical office space located?
The property is located at 1523 Voorhies Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,100,000.
What are key features of this property?
This property features: Five‑story commercial building configured for medical and professional office use; Well‑appointed lobby and high‑quality interior finishes, including extensive built‑in cabinetry; All building systems are in excellent working condition for day‑to‑day operations
