Flexible Dental Office
For Sale
$399,000
340 72ND ST, New York, NY 10021
Approximately 800 sq ft north-facing dental office with two separate entrances in a co-op building.
Property Size800 SF
Price / SF$498.75
Days on Market263
Property Features for 340 72ND ST
General Information
Standard status
Active
Size
800 SF
Property subtype
Apartment
Amenities
24/7 doorman
Live-in resident manager
Newly updated fitness center
Landscaped rear courtyard garden
Bike room
Private storage
Laundry Room
3
Building Details
Year Built
1930
Listing Agency:
Berkshire Hathaway HomeServices New York Properties
(212) 710-1900
Listed By:
Anique Christie-Wallace
(347) 443-4798
Source:
Xome
Added: Nov 19, 2025
Changed: Aug 7
Last Checked: Aug 8 at 3:52AM
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 Berkshire Hathaway HomeServices New York Properties
Investment Insights
Based on property information with market context.
This flexible co-op unit is currently configured as an approximately 800 sq ft dental office with north-facing exposure. It features two separate entrances: a private street-level entrance for clients and a second entrance through the building lobby, supporting both professional and live-work possibilities. The co-op board will consider keeping the space as-is for dental use, other professional uses, a live/work combination, or a full residential conversion. Two contractor estimates are available upon request, or buyers may bring their own team, with feasibility confirmed through appropriate professionals and approvals.
The building offers 24/7 doorman service, a live-in resident manager, a newly updated fitness center, a landscaped rear courtyard garden, a bike room, private storage, and a laundry room. The neighborhood is well served by public transportation, including Q and 6 trains, M72 crosstown, and M15-SBS.
Buyers should complete their own due diligence regarding feasibility and any required Certificate of Occupancy changes. The board is generally supportive of well-planned conversions that meet building requirements, and the purchase may be subject to up to 50% financing and a 2% flip tax paid by the buyer.
The building offers 24/7 doorman service, a live-in resident manager, a newly updated fitness center, a landscaped rear courtyard garden, a bike room, private storage, and a laundry room. The neighborhood is well served by public transportation, including Q and 6 trains, M72 crosstown, and M15-SBS.
Buyers should complete their own due diligence regarding feasibility and any required Certificate of Occupancy changes. The board is generally supportive of well-planned conversions that meet building requirements, and the purchase may be subject to up to 50% financing and a 2% flip tax paid by the buyer.
Key Highlights
- Approx 800 sq ft north‑facing dental office currently configured for professional use
- Two separate entrances: private street‑level entry for clients and a second entrance through the building lobby
- Co‑op board consideration includes keeping as‑is, other professional uses, live/work, or full residential conversion
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
$25,500
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
6.39%
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%
$510,000
$510.0K
Cap Rate 7%
$364,286
$364.3K
Cap Rate 9%
$283,333
$283.3K
Market Conditions
NOI Build-Up for 800 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
$48.0K $60.00/SF
− Vacancy
−$7.2K −$9.00/SF
EGI
$40.8K $51.00/SF
− OpEx
−$15.3K −$19.13/SF
NOI
$25.5K $31.88/SF
Area
New York, NY
Vacancy
15.00%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
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%
$510,000
Cap Rate 7%
$364,286
Cap Rate 9%
$283,333
Alternative Uses
Best Use
Mixed Use
$364.3K
$318.8K – $425.0K
NOI $25,500 @ 7.0% cap · market cap 6.39%
Second Best
Office B
$357.9K
$313.1K – $417.5K
NOI $25,050 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,392 @ 7.0% cap · market cap 34.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10021, NY
45,691
Population
29,248
Households
1.6
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
114,228
Density / Sq Mi
$156,712
Median Household Income
$99,886
Median Earnings
$3,002
Median Rent
$1,529,600
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 - Approximately 800 sq ft north-facing dental office with two separate entrances in a co-op building.
Where is this medical office space located?
The property is located at 340 72ND ST New York, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approx 800 sq ft north‑facing dental office currently configured for professional use; Two separate entrances: private street‑level entry for clients and a second entrance through the building lobby; Co‑op board consideration includes keeping as‑is, other professional uses, live/work, or full residential conversion
