Medical Office on Upper
For Sale
$475,000
Pending
205 E 78th Street 7G, Manhattan, NY 10075
Ground floor medical office in Lenox Hill neighborhood.
Property Size1,141 SF
Days on Market219
Property Features for 205 E 78th Street 7G
General Information
Standard status
Pending
Size
1,141 SF
Property subtype
Apartment
Building Details
Year Built
1931
Listing Agency:
Compass
Listed By:
Kenneth Teitel
(646) 643-6420
Source:
Miradorrealestate
Added: Mar 27
Changed: Oct 31
Last Checked: Oct 30 at 7:46PM
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 Compass
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Investment Insights
Based on property information with market context.
Located on East 78th Street between Second and Third Avenues in Manhattan’s Upper East Side neighborhood of Lenox Hill, 205 East 78th Street, Suite 1B1C is available for sale. The ground floor space is currently configured as a urology practice. The layout of the approximately 1,141-square-foot medical office includes a waiting area with windows facing East 78th Street, a reception area, four exam rooms, an office/consult room, and two restrooms. The space features recessed and overhead lighting, central air conditioning, and up to 11-foot ceilings. There is a street entrance via a shared vestibule, with a secondary ingress/egress through the residential lobby. The property is accessible by public transportation via the 4 and 6 trains at 77th St, as well as Upper East Side bus routes. It is located three blocks from Lenox Hill Hospital and proximate to Mount Sinai, NYC Health + Hospitals, HSS, New York Presbyterian, and Memorial Sloan Kettering.
Key Highlights
- Prime Upper East Side location in Lenox Hill, close to major hospitals.
- Ground floor medical office with street entrance.
- Existing medical office layout with waiting area, reception, four exam rooms, and office/consult.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,728
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,560
$714.6K
Cap Rate 7%
$510,400
$510.4K
Cap Rate 9%
$396,978
$397.0K
Market Conditions
NOI Build-Up for 1,141 SF
Gross rent
$58.7K $51.48/SF
− Vacancy
−$11.1K −$9.73/SF
EGI
$47.6K $41.75/SF
− OpEx
−$11.9K −$10.44/SF
NOI
$35.7K $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 Rate 5%
$714,560
Cap Rate 7%
$510,400
Cap Rate 9%
$396,978
Alternative Uses
Best Use
Office B
$510.4K
$446.6K – $595.5K
NOI $35,728 @ 7.0% cap · market cap 7.52%
Second Best
Healthcare Medical
$485.9K
$425.1K – $566.9K
NOI $34,011 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$2.84M
$2.49M – $3.31M
NOI $198,808 @ 7.0% cap · market cap 41.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
26,459
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 10075, NY
27,796
Population
16,415
Households
1.7
Avg Household Size
41
Median Age
85%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
138,980
Density / Sq Mi
$146,556
Median Household Income
$112,549
Median Earnings
$2,390
Median Rent
$1,097,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground floor medical office in Lenox Hill neighborhood.
Where is this medical office space located?
The property is located at 205 E 78th Street 7G Manhattan, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prime Upper East Side location in Lenox Hill, close to major hospitals.; Ground floor medical office with street entrance.; Existing medical office layout with waiting area, reception, four exam rooms, and office/consult.
