Two-Level Medical Office
For Sale
Contact for pricing
1749 East 16th Street, Brooklyn, NY 11229
Vacant two-level medical office condo with private offices, reception, waiting area, and three restrooms, ADA accessible.
Property Size4,600 SF
Price / SF$280.22
Days on Market26
Property Features for 1749 East 16th Street
General Information
Standard status
Active
Size
4,600 SF
Class
B
Total Parking Spaces
1
Property subtype
Office
Zoning
R6A/C2-4
Investment Type
Owner/User
Additional Details
Business Included
No
Amenities
ADA accessible
Building Details
Year Built
2003
Buildings
4
Stories
4
Units
11
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
Vadim Blinov · License #New York
Source:
Crexi
Added: Jul 22
Changed: Aug 14
Last Checked: Aug 14 at 8:16AM
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.
Available for sale is a 4,600 SF commercial condominium spanning two full levels. The space was previously occupied as a medical office and is laid out with approximately eight private offices/exam rooms, a reception area, waiting room, flexible workspace, and three restrooms. The two-level layout is connected internally and is designed to provide separation between patient/client areas, treatment rooms, administrative offices, and support space. ADA accessibility is included.
The property includes deeded parking and is located in Midwood, Brooklyn, with access to Kings Highway B & Q subway service and multiple bus lines. The surrounding area is described as a dense residential community.
Ready for immediate occupancy, the condo can support a range of professional and medical office uses, including medical, dental, physical therapy, chiropractic, behavioral health, wellness, and other professional services listed in the remarks.
The property includes deeded parking and is located in Midwood, Brooklyn, with access to Kings Highway B & Q subway service and multiple bus lines. The surrounding area is described as a dense residential community.
Ready for immediate occupancy, the condo can support a range of professional and medical office uses, including medical, dental, physical therapy, chiropractic, behavioral health, wellness, and other professional services listed in the remarks.
Key Highlights
- Vacant 4,600 SF commercial condominium with two full levels and an internal connection
- Previously used as a medical office with about eight private offices/exam rooms plus reception and waiting room
- Includes three restrooms and flexible workspace for professional or medical use
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
$114,761
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
8.90%
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%
$2,295,220
$2.3M
Cap Rate 7%
$1,639,443
$1.6M
Cap Rate 9%
$1,275,122
$1.3M
Market Conditions
NOI Build-Up for 4,600 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
$198.7K $43.20/SF
− Vacancy
−$45.7K −$9.94/SF
EGI
$153.0K $33.26/SF
− OpEx
−$38.3K −$8.32/SF
NOI
$114.8K $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%
$2,295,220
Cap Rate 7%
$1,639,443
Cap Rate 9%
$1,275,122
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,761 @ 7.0% cap · market cap 8.90%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.78M
NOI $106,646 @ 7.0% cap · market cap 8.27%
Theoretical Best
Specialty Retail
$3.81M
$3.33M – $4.44M
NOI $266,616 @ 7.0% cap · market cap 20.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant two-level medical office condo with private offices, reception, waiting area, and three restrooms, ADA accessible.
Where is this medical office space located?
The property is located at 1749 East 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: Vacant 4,600 SF commercial condominium with two full levels and an internal connection; Previously used as a medical office with about eight private offices/exam rooms plus reception and waiting room; Includes three restrooms and flexible workspace for professional or medical use
