Two-Level Medical Office
For Sale
$1,289,000
1749 E 16th Street, Brooklyn, NY 11229
Commercial, Brooklyn, NY
Property Size2,300 SF
Price / SF$560.43
Days on Market48
Property Features for 1749 E 16th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5B
Basement
Finished
Subdivision
Homecrest
Standard status
Active
Size
2,300 SF
Taxes and HOA fees
Tax Annual Amount
19535
Building Details
Year built
2003
Floors in Building
4
Number of units
1
Flooring type
Tile, Ceramic
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Anna Soboleva · License #10401366828
(347) 488-6474
Added: Jul 22
Changed: Sep 6
Last Checked: Sep 7 at 10:06PM
MLS# 503220
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant medical office condominium contains 2,300 square feet across two internally connected levels. The layout includes approximately eight private offices or exam rooms, reception and waiting areas, three restrooms, and adaptable workspace. Brick construction, ceramic and tile flooring, and a 2003 build date further define the property. ADA accessibility and one deeded parking space add practical functionality for daily operations.
The property is located at 1749 E 16th Street in Brooklyn’s Midwood area, near the Kings Highway B & Q subway station and multiple bus lines. Its setting within a dense residential community provides convenient access for employees, visitors, and clients. The R5B zoning designation and existing configuration support professional and medical office occupancy, subject to applicable requirements.
The property is located at 1749 E 16th Street in Brooklyn’s Midwood area, near the Kings Highway B & Q subway station and multiple bus lines. Its setting within a dense residential community provides convenient access for employees, visitors, and clients. The R5B zoning designation and existing configuration support professional and medical office occupancy, subject to applicable requirements.
Key Highlights
- 2,300 SF condominium arranged across two full levels
- Approximately eight private offices or exam rooms
- Reception area, waiting room, flexible workspace, and three restrooms
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
$57,380
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
4.45%
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%
$1,147,600
$1.1M
Cap Rate 7%
$819,714
$819.7K
Cap Rate 9%
$637,556
$637.6K
Market Conditions
NOI Build-Up for 2,300 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
$99.4K $43.20/SF
− Vacancy
−$22.9K −$9.94/SF
EGI
$76.5K $33.26/SF
− OpEx
−$19.1K −$8.32/SF
NOI
$57.4K $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%
$1,147,600
Cap Rate 7%
$819,714
Cap Rate 9%
$637,556
Alternative Uses
Best Use
Office B
$819.7K
$717.3K – $956.3K
NOI $57,380 @ 7.0% cap · market cap 4.45%
Second Best
Healthcare Medical
$761.8K
$666.5K – $888.7K
NOI $53,323 @ 7.0% cap · market cap 4.14%
Theoretical Best
Specialty Retail
$1.90M
$1.67M – $2.22M
NOI $133,308 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
5,560
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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.
Similar Off Market Nearby
- Kind Vet — 711 Avenue U, Brooklyn, NY 11223
- South Brooklyn Animal Clinic — 2394 Coney Island Ave, Brooklyn, NY 11223
- Яков Шейнберг DVM — 2806 Avenue U, Brooklyn, NY 11229
- Sheepshead Bay Veterinary Group — 2806 Avenue U, Brooklyn, NY 11229
- Oceanside Animal Clinic — 704 Kings Hwy, Brooklyn, NY 11223
Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant, ADA-accessible condominium with private rooms, internal circulation, and deeded parking.
Where is this medical office space located?
The property is located at 1749 E 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,289,000.
What are key features of this property?
This property features: 2,300 SF condominium arranged across two full levels; Approximately eight private offices or exam rooms; Reception area, waiting room, flexible workspace, and three restrooms
