Ground-Floor Medical Office
New
For Sale
$525,000
5024 10th Avenue, Brooklyn, NY 11219
COMMERCIAL - Brooklyn, NY
Property Size1,755 SF
Lot Size0.06 Acres
Price / SF$299.15
Days on Market2
Property Features for 5024 10th Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6
Basement
Finished
Subdivision
Boro-Park
Standard status
Active
Size
1,755 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
11390
Building Details
Number of units
1
Building materials
Block
Listing Agency:
Exclusive Properties Realty In
(718) 916-4618
Listed By:
Alevtina Ioffe
(718) 916-4618
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 11:06AM
MLS# 503749
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 1,755 SF medical office condominium occupies the ground floor of an elevator building and is constructed with block materials. Two private entry points support separate arrival paths for patients, staff, or distinct operating areas. The property is zoned R6 and is identified as a community facility, with any qualifying use subject to applicable zoning and approvals.
The condo is located at 5024 10 Avenue in Brooklyn’s Borough Park area, approximately two blocks from Maimonides Medical Center. Transit access includes the D subway line at Fort Hamilton Parkway and 50th Street, along with the B35 bus. The nearby 13th Avenue corridor provides shopping, dining, pharmacies, professional services, and everyday conveniences.
The condo is located at 5024 10 Avenue in Brooklyn’s Borough Park area, approximately two blocks from Maimonides Medical Center. Transit access includes the D subway line at Fort Hamilton Parkway and 50th Street, along with the B35 bus. The nearby 13th Avenue corridor provides shopping, dining, pharmacies, professional services, and everyday conveniences.
Key Highlights
- 1,755 SF ground‑floor medical office condominium
- Two private entrances support separate access points
- Elevator building with block construction
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - R6-zoned condominium space offers two private entrances within an elevator building near Maimonides Medical Center.
Where is this medical office space located?
The property is located at 5024 10th Avenue 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 SF ground‑floor medical office condominium; Two private entrances support separate access points; Elevator building with block construction
