Renovated Medical Office
For Sale
$1,550,000
2345 60th St C1 & C2, Brooklyn, NY 11204
Renovated office condo with reception, private offices, conference room, and balcony, plus an elevator-connected vacant basement suite.
Property Size2,600 SF
Days on Market14
Property Features for 2345 60th St C1 & C2
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Commercial
Building Details
Building Size
2,600 SF
Year Built
2011
Listing Agency:
Metro Realty Professionals
(718) 838-2600
Listed By:
Rui (Nancy) L Wu · License #10491203971
(718) 838-2600
Source:
Elliman
Added: Jul 25
Changed: Jul 26
Last Checked: Aug 6 at 6:43AM
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 Metro Realty Professionals
Investment Insights
Based on property information with market context.
This renovated commercial condo in Brooklyn includes a reception area, a central work area with chairs and tables, private employee offices, and a CEO private office with a private restroom. The suite also features two employee restrooms, a coffer room with a large island, and a large conference room. The unit is described as custom built and was totally renovated approximately four years ago, and includes a large balcony.
An elevator connects to a second unit labeled C1 in the basement, which is currently vacant and described as suitable for ambulatory diagnostic or treatment health care facility use. The basement unit includes an open space and a half restroom.
For the seller-paid versus tenant-paid items noted in the information, annual tax and common charges are provided for both units C1 and C2, and the existing tenant for C2 is stated as paying $89,000 annually with a 3% yearly increase. The listing also includes walkScore, bikeScore, and transitScore ratings.
An elevator connects to a second unit labeled C1 in the basement, which is currently vacant and described as suitable for ambulatory diagnostic or treatment health care facility use. The basement unit includes an open space and a half restroom.
For the seller-paid versus tenant-paid items noted in the information, annual tax and common charges are provided for both units C1 and C2, and the existing tenant for C2 is stated as paying $89,000 annually with a 3% yearly increase. The listing also includes walkScore, bikeScore, and transitScore ratings.
Key Highlights
- 2011‑built luxury commercial office condo with renovated layout and reception, central work area, private employee offices, and a private CEO office with restroom
- Includes coffer room with big island and a huge conference room, plus a 1,500 SF balcony
- Elevator‑connected basement suite (Unit C1) is 1,100 SF and currently vacant, suited for ambulatory diagnostic or treatment health care facility
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
$64,865
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
4.18%
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%
$1,297,300
$1.3M
Cap Rate 7%
$926,643
$926.6K
Cap Rate 9%
$720,722
$720.7K
Market Conditions
NOI Build-Up for 2,600 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
$112.3K $43.20/SF
− Vacancy
−$25.8K −$9.94/SF
EGI
$86.5K $33.26/SF
− OpEx
−$21.6K −$8.32/SF
NOI
$64.9K $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%
$1,297,300
Cap Rate 7%
$926,643
Cap Rate 9%
$720,722
Alternative Uses
Best Use
Office B
$926.6K
$810.8K – $1.08M
NOI $64,865 @ 7.0% cap · market cap 4.18%
Second Best
Healthcare Medical
$861.1K
$753.5K – $1.00M
NOI $60,278 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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?
Office units - Renovated office condo with reception, private offices, conference room, and balcony, plus an elevator-connected vacant basement suite.
Where is this office units located?
The property is located at 2345 60th St C1 & C2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 2011‑built luxury commercial office condo with renovated layout and reception, central work area, private employee offices, and a private CEO office with restroom; Includes coffer room with big island and a huge conference room, plus a 1,500 SF balcony; Elevator‑connected basement suite (Unit C1) is 1,100 SF and currently vacant, suited for ambulatory diagnostic or treatment health care facility
