Medical Laboratory Office
229 49th Street, Brooklyn, NY 11220
For Sale
Contact for pricing
2016-constructed medical laboratory office building with approximately 16-foot ceilings and one drive-in gate plus underground parking.
Property Size33,478 SF
Price / SF$403.25
Days on Market106
Property Features for 229 49th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Drive-In Doors
Building Details
Year Built
Stories
Listing Agency:
JA Cohen Advisory Group LLC
Listed By:
Jack A. Cohen · License #NY 10491209522
(917) 533-8905
Source:
Crexi
Added: Jul 27
Changed: Nov 6
Last Checked: Nov 8 at 6:16AM
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 JA Cohen Advisory Group LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical laboratory office building was constructed in 2016 and is described as being in pristine condition. The property offers up to 33,478 square feet of usable space with approximately 16-foot ceiling heights throughout. One drive-in gate provides access, and the building includes up to 25 underground parking spaces.
The current usage is a medical laboratory, and the property is positioned in the heart of Sunset Park. Nearby public transportation is noted, supporting convenient access for staff, patients, and visitors.
For buyers evaluating an end-user or investment strategy, this asset presents a purpose-built healthcare setting with generous vertical clearance and controlled access via the drive-in gate, alongside structured underground parking.
The current usage is a medical laboratory, and the property is positioned in the heart of Sunset Park. Nearby public transportation is noted, supporting convenient access for staff, patients, and visitors.
For buyers evaluating an end-user or investment strategy, this asset presents a purpose-built healthcare setting with generous vertical clearance and controlled access via the drive-in gate, alongside structured underground parking.
Key Highlights
- Commercial building constructed in 2016, used as a medical laboratory
- Up to 33,478 SF of usable space with approximately 16‑ft ceiling heights
- One drive‑in gate plus up to 25 underground parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$678,773
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,575,460
$13.6M
Cap Rate 7%
$9,696,757
$9.7M
Cap Rate 9%
$7,541,922
$7.5M
Market Conditions
NOI Build-Up for 33,478 SF
Gross rent
$1.29M $38.40/SF
− Vacancy
−$154.3K −$4.61/SF
EGI
$1.13M $33.79/SF
− OpEx
−$452.5K −$13.52/SF
NOI
$678.8K $20.28/SF
Area
ZIP 11220
Vacancy
12.00%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,575,460
Cap Rate 7%
$9,696,757
Cap Rate 9%
$7,541,922
Alternative Uses
Best Use
Healthcare Medical
$9.70M
$8.48M – $11.31M
NOI $678,773 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.70M
$18.99M – $25.32M
NOI $1,519,205 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
4,108
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Medical centers in Brooklyn
Frequently Asked Questions
What type of property is this?
Medical center - 2016-constructed medical laboratory office building with approximately 16-foot ceilings and one drive-in gate plus underground parking.
Where is this medical center located?
The property is located at 229 49th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: Commercial building constructed in 2016, used as a medical laboratory; Up to 33,478 SF of usable space with approximately 16‑ft ceiling heights; One drive‑in gate plus up to 25 underground parking spaces
