Medical Office With Dual
For Sale
$399,000
340 E 72ND Street 1N, New York City, NY 10021
North-facing professional unit with a street-level client entrance and access through the co-op lobby.
Property Size800 SF
Price / SF$498.75
Days on Market252
Property Features for 340 E 72ND Street 1N
General Information
Standard status
Active
Size
800 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
1
Office Units
1
Amenities
24/7 doorman
live-in resident manager
newly updated fitness center
landscaped rear courtyard garden
bike room
private storage
laundry room
Building Details
Building Size
800 SF
Year Built
1930
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices New York Properties
(347) 443-4798
Listed By:
Anique Christie-Wallace
(347) 443-4798
Source:
Carytamura
Added: Dec 2, 2025
Changed: Aug 11
Last Checked: Aug 11 at 5:42AM
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 approximately 800-square-foot medical office is configured as a dental practice and offers a flexible layout for continued professional use. North-facing exposure and two separate access points provide a private street-level entry for clients along with a second route through the building lobby. The co-op board will consider retaining the existing office, other professional applications, a live/work arrangement, or residential conversion, subject to building requirements and any necessary approvals.
Built in 1930, the building provides a 24/7 doorman, live-in resident manager, updated fitness center, landscaped rear courtyard garden, bike room, private storage, and laundry room. The property is served by the Q and 6 trains, M72 crosstown service, and M15-SBS. Nearby context includes medical and educational institutions, Museum Mile, and the East River Greenway.
Built in 1930, the building provides a 24/7 doorman, live-in resident manager, updated fitness center, landscaped rear courtyard garden, bike room, private storage, and laundry room. The property is served by the Q and 6 trains, M72 crosstown service, and M15-SBS. Nearby context includes medical and educational institutions, Museum Mile, and the East River Greenway.
Key Highlights
- Approximately 800 sq ft dental office configuration
- Two entrances: private street‑level access and building lobby entry
- Co‑op board will consider professional, live/work, or residential conversion plans
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
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9,976
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 - North-facing professional unit with a street-level client entrance and access through the co-op lobby.
Where is this medical office space located?
The property is located at 340 E 72ND Street 1N New York City, 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: Approximately 800 sq ft dental office configuration; Two entrances: private street‑level access and building lobby entry; Co‑op board will consider professional, live/work, or residential conversion plans
