Two-Story Medical Office
For Sale
$899,000
279 Sumpter Street, Brooklyn, NY 11233
Commercial Sale, Brooklyn, NY
Property Size3,201 SF
Price / SF$280.85
Days on Market108
Property Features for 279 Sumpter Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Finished, Walk-Out Access
Elementary school district
Brooklyn 23
Middle school district
Brooklyn 23
High school district
Brooklyn 23
Standard status
Active
APN
01521-1101
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11922
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2020
Floors in Building
5
Building materials
Brick, Energy Star
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Ge Cai
(646) 644-3828
Added: May 8
Changed: Aug 20
Last Checked: Aug 23 at 6:06AM
MLS# 997199
Copyright © 2026 OneKey MLS. 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.
Located at 279 Sumpter Street in Brooklyn, this Community Facility Unit is classified for Use Group 3 & 4 applications and offers a two-level configuration. The first floor contains 786 SF, while the lower level provides 2,415 SF of open space that can support consultation rooms, classrooms, multipurpose areas, or administrative functions, subject to applicable requirements.
Built in 2020, the property features a brick exterior, central air, natural gas and electric heating, hot water heating, public water, and public sewer. Phone service is available. A 25-year tax abatement is also associated with the unit, providing a defined tax benefit for the qualifying ownership period.
Built in 2020, the property features a brick exterior, central air, natural gas and electric heating, hot water heating, public water, and public sewer. Phone service is available. A 25-year tax abatement is also associated with the unit, providing a defined tax benefit for the qualifying ownership period.
Key Highlights
- 2,415 SF lower level plus 786 SF first floor
- Use Group 3 & 4 designation
- 25‑year tax abatement
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
$79,859
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
8.88%
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%
$1,597,180
$1.6M
Cap Rate 7%
$1,140,843
$1.1M
Cap Rate 9%
$887,322
$887.3K
Market Conditions
NOI Build-Up for 3,201 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
$138.3K $43.20/SF
− Vacancy
−$31.8K −$9.94/SF
EGI
$106.5K $33.26/SF
− OpEx
−$26.6K −$8.32/SF
NOI
$79.9K $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%
$1,597,180
Cap Rate 7%
$1,140,843
Cap Rate 9%
$887,322
Alternative Uses
Best Use
Office B
$1.14M
$998.2K – $1.33M
NOI $79,859 @ 7.0% cap · market cap 8.88%
Second Best
Healthcare Medical
$1.06M
$927.7K – $1.24M
NOI $74,212 @ 7.0% cap · market cap 8.25%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,530 @ 7.0% cap · market cap 20.64%
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
2,963
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 - Community facility unit with flexible rooms, public utilities, and a 25-year tax abatement.
Where is this medical office space located?
The property is located at 279 Sumpter Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,415 SF lower level plus 786 SF first floor; Use Group 3 & 4 designation; 25‑year tax abatement
