Lobby-Level Medical
For Sale
$313,000
3901 Nostrand Avenue, Brooklyn, NY 11235
Commercial, Brooklyn, NY
Property Size900 SF
Lot Size15.24 Acres
Price / SF$347.78
Days on Market71
Property Features for 3901 Nostrand Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R3-2
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
900 SF
Lot size
15.24 Acres
Amenities
swimming pool
package room
storage
parking available
central A/C
radiator heat
soundproof offices
Building Details
Number of units
1
Building materials
Brick, Masonry
Roof type
Flat
Listing Agency:
eXp Realty BKNY
(888) 276-0630
Listed By:
Andrey Kim · License #AK1352
(929) 204-0711
Added: Jul 8
Changed: Sep 5
Last Checked: Sep 16 at 5:06PM
MLS# 502862
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.
This 900-square-foot medical office space occupies the ground floor of a brick and masonry cooperative building. The interior includes 3 private offices, 3 open work areas, 2 half bathrooms, multiple sinks, sound-treated offices, central A/C, radiator heat, and oversized windows. Built-in cabinetry, desks, shelving, filing cabinets, and storage are included. Separate access from the street and lobby supports convenient arrival for visitors and staff.
The building offers a swimming pool and package room, with storage available and parking offered through a waitlist. The property is near shopping, restaurants, public transportation, and major roadways in Brooklyn’s Sheepshead Bay area. Zoning is R3-2, and medical use is approved.
The building offers a swimming pool and package room, with storage available and parking offered through a waitlist. The property is near shopping, restaurants, public transportation, and major roadways in Brooklyn’s Sheepshead Bay area. Zoning is R3-2, and medical use is approved.
Key Highlights
- 900 square feet of ground‑floor medical office space
- 3 private offices and 3 open work areas
- 2 half bathrooms, including 1 ADA‑accessible restroom
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
$22,453
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
7.17%
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%
$449,060
$449.1K
Cap Rate 7%
$320,757
$320.8K
Cap Rate 9%
$249,478
$249.5K
Market Conditions
NOI Build-Up for 900 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
$38.9K $43.20/SF
− Vacancy
−$8.9K −$9.94/SF
EGI
$29.9K $33.26/SF
− OpEx
−$7.5K −$8.32/SF
NOI
$22.5K $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%
$449,060
Cap Rate 7%
$320,757
Cap Rate 9%
$249,478
Alternative Uses
Best Use
Office B
$320.8K
$280.7K – $374.2K
NOI $22,453 @ 7.0% cap · market cap 7.17%
Second Best
Healthcare Medical
$298.1K
$260.8K – $347.8K
NOI $20,866 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,890
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible professional layout with private offices, open work areas, dual entrances, and an ADA-accessible restroom.
Where is this medical office space located?
The property is located at 3901 Nostrand Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $313,000.
What are key features of this property?
This property features: 900 square feet of ground‑floor medical office space; 3 private offices and 3 open work areas; 2 half bathrooms, including 1 ADA‑accessible restroom
