Ground-Floor Medical Office
New
For Sale
$525,000
5024 10th Ave M1, Brooklyn, NY 11219
Medical and community facility condo with dual private entrances in an elevator building.
Property Size1,755 SF
Price / SF$299.15
Days on Market3
Property Features for 5024 10th Ave M1
General Information
Standard status
Active
Size
1,755 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
Ground Floor
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,390
Building Details
Building Size
1,755 SF
Listing Agency:
Exclusive Properties Realty In
(718) 916-4618
Listed By:
Alevtina Ioffe
(718) 916-4618
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 6:45AM
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 Exclusive Properties Realty In
Investment Insights
Based on property information with market context.
This 1,755-square-foot ground-floor commercial condominium is designated for medical and community facility use. Two private entrances support separate reception, patient, staff, or operational access within the suite. The property is located in an elevator building and may support qualifying community-oriented operations, subject to applicable zoning and approvals.
The condo is in Borough Park, near Maimonides Medical Center and the 13th Avenue corridor. Nearby transportation includes the D subway line at Fort Hamilton Parkway and 50th Street, along with the B35 bus. The surrounding area includes residential and commercial activity, shopping, dining, pharmacies, professional services, and other everyday conveniences. Documented walkability, transit, and bike access are reflected in scores of 95, 95, and 76, respectively.
The condo is in Borough Park, near Maimonides Medical Center and the 13th Avenue corridor. Nearby transportation includes the D subway line at Fort Hamilton Parkway and 50th Street, along with the B35 bus. The surrounding area includes residential and commercial activity, shopping, dining, pharmacies, professional services, and other everyday conveniences. Documented walkability, transit, and bike access are reflected in scores of 95, 95, and 76, respectively.
Key Highlights
- 1,755‑square‑foot ground‑floor medical and community facility condo
- Two separate private entrances provide flexible access within the suite
- Located in an elevator building
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
$48,048
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
9.15%
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%
$960,960
$961.0K
Cap Rate 7%
$686,400
$686.4K
Cap Rate 9%
$533,867
$533.9K
Market Conditions
NOI Build-Up for 1,755 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
$82.1K $46.80/SF
− Vacancy
−$18.1K −$10.30/SF
EGI
$64.1K $36.50/SF
− OpEx
−$16.0K −$9.13/SF
NOI
$48.0K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /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%
$960,960
Cap Rate 7%
$686,400
Cap Rate 9%
$533,867
Alternative Uses
Best Use
Office B
$686.4K
$600.6K – $800.8K
NOI $48,048 @ 7.0% cap · market cap 9.15%
Second Best
Healthcare Medical
$528.5K
$462.5K – $616.6K
NOI $36,998 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$1.14M
$995.5K – $1.33M
NOI $79,640 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,741
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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 - Medical and community facility condo with dual private entrances in an elevator building.
Where is this medical office space located?
The property is located at 5024 10th Ave M1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,755‑square‑foot ground‑floor medical and community facility condo; Two separate private entrances provide flexible access within the suite; Located in an elevator building
