Two-Level Medical Office
For Sale
$899,000
279 Sumpter Street #CFU, Brooklyn, NY 11233
Flexible community facility unit with healthcare, education, and nonprofit use potential.
Property Size3,201 SF
Days on Market115
Property Features for 279 Sumpter Street #CFU
General Information
Standard status
Active
Size
3,201 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,922
Building Details
Building Size
3,201 SF
Year Built
2020
Stories
5
Listing Agency:
E Realty International Corp
(646) 644-3828
Listed By:
Ge Cai
(646) 644-3828
Source:
Mahlerrealty
Added: May 8
Changed: Aug 29
Last Checked: Aug 25 at 9:22AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This 2020 community facility unit provides a two-level layout suited to medical office operations and other institutional uses. The 786 SF first floor offers space for reception, consultations, or administration, while the 2,415 SF lower level provides a broad area for exam rooms, classrooms, multipurpose functions, or back-office operations. The property includes a brick exterior and updated internal systems.
Located at 279 Sumpter Street in Brooklyn’s Ocean Hill, the unit carries a 25-year tax abatement. Its Use Group 3 & 4 designation supports healthcare providers, early childhood education, and nonprofit organizations seeking a permanent operating location.
Located at 279 Sumpter Street in Brooklyn’s Ocean Hill, the unit carries a 25-year tax abatement. Its Use Group 3 & 4 designation supports healthcare providers, early childhood education, and nonprofit organizations seeking a permanent operating location.
Key Highlights
- 786 SF first floor plus 2,415 SF lower level
- 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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Victoria Vet Clinic — 1230 Putnam Ave, Brooklyn, NY 11221
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible community facility unit with healthcare, education, and nonprofit use potential.
Where is this medical office space located?
The property is located at 279 Sumpter Street #CFU 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: 786 SF first floor plus 2,415 SF lower level; Use Group 3 & 4 designation; 25‑year tax abatement
