Turnkey Dental Office For
For Sale
$1,595,000
30 W 60th st 1GH, New York, NY 10023
Ready-to-operate dental office near Columbus Circle.
Property Size1,500 SF
Price / SF$1,063
Days on Market173
Property Features for 30 W 60th st 1GH
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Building Details
Building Size
1,500 SF
Listing Agency:
Douglas Elliman Commercial | New York
Listed By:
Todd Weinberg · License #30WE0558045
(212) 692-6185
Source:
Elliman
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 13 at 8:15AM
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 Douglas Elliman Commercial | New York
Investment Insights
Based on property information with market context.
This approximately 1500 square foot commercial space is configured as a dental office and is available for sale. The layout includes a waiting area, reception/business area, six treatment rooms, a private office, a kitchen/lab area, and one bathroom. The space benefits from ample natural light due to numerous windows and is equipped with central air conditioning. The property is suitable for any medical or dental use. Its location is one block from the 59th Street-Columbus Circle Subway Station.
Key Highlights
- Excellent condition, ready for immediate practice operation.
- Permitted for any medical/dental use.
- Prime location: just 1 block from the 59th Street‑Columbus Circle Subway Station.
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
$58,826
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
3.69%
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%
$1,176,520
$1.2M
Cap Rate 7%
$840,371
$840.4K
Cap Rate 9%
$653,622
$653.6K
Market Conditions
NOI Build-Up for 1,500 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
$94.5K $63.00/SF
− Vacancy
−$16.1K −$10.71/SF
EGI
$78.4K $52.29/SF
− OpEx
−$19.6K −$13.07/SF
NOI
$58.8K $39.22/SF
Area
ZIP 10023
Vacancy
17.00%
Lease Rate
$63.00 /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%
$1,176,520
Cap Rate 7%
$840,371
Cap Rate 9%
$653,622
Alternative Uses
Best Use
Office B
$840.4K
$735.3K – $980.4K
NOI $58,826 @ 7.0% cap · market cap 3.69%
Second Best
Healthcare Medical
$554.0K
$484.8K – $646.4K
NOI $38,783 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.07M
$933.2K – $1.24M
NOI $74,656 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
52,828
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10023, NY
71,164
Population
46,272
Households
1.5
Avg Household Size
42
Median Age
84%
College-Educated
98%
High-School Grad
1.0 sq mi
ZIP Area
71,164
Density / Sq Mi
$157,866
Median Household Income
$109,508
Median Earnings
$3,050
Median Rent
$1,401,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ready-to-operate dental office near Columbus Circle.
Where is this medical office space located?
The property is located at 30 W 60th st 1GH New York, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Excellent condition, ready for immediate practice operation.; Permitted for any medical/dental use.; Prime location: just 1 block from the 59th Street‑Columbus Circle Subway Station.
