Three-Story Medical Office
For Sale
$1,659,000
3099 Coney Island Avenue, Brooklyn, NY 11235
Commercial, Brooklyn, NY
Property Size3,705 SF
Lot Size0.04 Acres
Price / SF$447.77
Days on Market755
Property Features for 3099 Coney Island Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Parking features
Carport
Basement
Full, Finished
Subdivision
Brighton Beach
Standard status
Active
Size
3,705 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
23346
Building Details
Year built
1999
Number of units
3
Flooring type
Tile, Laminate
Building materials
Brick
Roof type
Flat, Rubber
Listing Agency:
Century 21 Homefront Realty
Listed By:
Igor Yakubinskiy
(718) 252-6060
Added: Aug 14, 2024
Changed: Sep 5
Last Checked: Sep 7 at 11:06AM
MLS# 485178
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Built in 1999, this three-story medical office property contains 3,705 square feet on a 0.0382-acre lot. Brick construction, tile and laminate flooring, flat rubber roofing, and a carport are among the existing improvements. Each floor has its own central air system.
The second and third floors are vacant and were originally configured for medical office use, while the ground floor is occupied by a doctor's office under a month-to-month lease. The property fronts Coney Island Avenue in Brighton Beach and carries R6 zoning, which the source identifies as supporting potential vertical expansion. Its configuration provides existing occupancy alongside additional available floor area.
The second and third floors are vacant and were originally configured for medical office use, while the ground floor is occupied by a doctor's office under a month-to-month lease. The property fronts Coney Island Avenue in Brighton Beach and carries R6 zoning, which the source identifies as supporting potential vertical expansion. Its configuration provides existing occupancy alongside additional available floor area.
Key Highlights
- 3,705‑square‑foot, three‑story medical office property
- 0.0382‑acre lot on Coney Island Avenue
- Second and third floors are vacant
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
$92,432
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
5.57%
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%
$1,848,640
$1.8M
Cap Rate 7%
$1,320,457
$1.3M
Cap Rate 9%
$1,027,022
$1.0M
Market Conditions
NOI Build-Up for 3,705 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
$160.1K $43.20/SF
− Vacancy
−$36.8K −$9.94/SF
EGI
$123.2K $33.26/SF
− OpEx
−$30.8K −$8.32/SF
NOI
$92.4K $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%
$1,848,640
Cap Rate 7%
$1,320,457
Cap Rate 9%
$1,027,022
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.54M
NOI $92,432 @ 7.0% cap · market cap 5.57%
Second Best
Healthcare Medical
$1.23M
$1.07M – $1.43M
NOI $85,897 @ 7.0% cap · market cap 5.18%
Theoretical Best
Specialty Retail
$3.07M
$2.68M – $3.58M
NOI $214,742 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,130
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Flexible medical office property with vacant upper floors, existing ground-floor occupancy, and separate central air systems.
Where is this medical office space located?
The property is located at 3099 Coney Island Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,659,000.
What are key features of this property?
This property features: 3,705‑square‑foot, three‑story medical office property; 0.0382‑acre lot on Coney Island Avenue; Second and third floors are vacant
