Medical Office
For Sale
$1,800,000
838 41st Street # Cf1, Brooklyn, NY 11232
The first-floor and cellar spaces are offered together, with passenger elevator access and staff restrooms.
Property Size3,900 SF
Price / SF$461.54
Days on Market962
Property Features for 838 41st Street # Cf1
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Commercial
Zoning
R6
Additional Details
Floor
First Floor and Cellar
Public Transit
Yes
Amenities
Other
2
3900
Finished,Full
Elevator – Passenger,Restrooms - Staff
3005
Office
30
100
Yes
Listing Agency:
Fang Fang Realty Inc
Listed By:
XueFang (Sue) Li
(718) 676-2518
Source:
Suitsre
Added: Mar 14, 2024
Changed: Oct 29
Last Checked: Oct 29 at 2:53PM
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
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Investment Insights
Based on property information with market context.
This newly built medical office condominium combines first-floor space with a cellar, offered as one package. The first floor contains 2,100 square feet, and the cellar contains 1,800 square feet, for 3,900 square feet in total. The property includes a passenger elevator and staff restrooms and is zoned R6.
The property is minutes from a D train station and the B70 bus stop. Restaurants, supermarkets, and pharmacies are nearby.
The property is minutes from a D train station and the B70 bus stop. Restaurants, supermarkets, and pharmacies are nearby.
Key Highlights
- 3,900 square feet across the first floor and cellar, sold as one package
- First floor: 2,100 square feet; cellar: 1,800 square feet
- Newly built commercial condominium
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,297
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,945,940
$1.9M
Cap Rate 7%
$1,389,957
$1.4M
Cap Rate 9%
$1,081,078
$1.1M
Market Conditions
NOI Build-Up for 3,900 SF
Gross rent
$168.5K $43.20/SF
− Vacancy
−$38.8K −$9.94/SF
EGI
$129.7K $33.26/SF
− OpEx
−$32.4K −$8.32/SF
NOI
$97.3K $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 Rate 5%
$1,945,940
Cap Rate 7%
$1,389,957
Cap Rate 9%
$1,081,078
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,297 @ 7.0% cap · market cap 5.41%
Second Best
Healthcare Medical
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$3.23M
$2.83M – $3.77M
NOI $226,044 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,549
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The first-floor and cellar spaces are offered together, with passenger elevator access and staff restrooms.
Where is this medical office space located?
The property is located at 838 41st Street # Cf1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 3,900 square feet across the first floor and cellar, sold as one package; First floor: 2,100 square feet; cellar: 1,800 square feet; Newly built commercial condominium
