Brooklyn Medical Office
55 Greene Avenue Brooklyn, NY 11238
For Sale
$1,750,000
Spacious medical office in Fort Greene, Brooklyn. Excellent accessibility.
Property Size3,470 SF
Price / SF$504.32
Days on Market297
Property Features for 55 Greene Avenue
General Information
- Standard status
- Active
- Size
- 3,470 SF
- Property subtype
- Residential
Building Details
- Year Built
- 2003
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Oct 1, 2025
Changed: Jul 10
Last Checked: Jul 23 at 6:29AM
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 East Side
Investment Insights
Based on property information with market context.
Located at 55 Greene Avenue in Fort Greene, Brooklyn, this combined medical office condominium offers 3,470 square feet of space suitable for various medical specialties. The property, identified as Unit 2D2E, features a layout designed to accommodate high patient volume and efficient workflow. The layout includes a large waiting area, dual reception areas, eleven exam rooms (one suitable for procedures, one for pre-op), a lab, a nurses' station, a sitting area, a staff lounge, four restrooms (one in a private office), a locker room for staff, a storage room, and a private office/consult room with an en suite bathroom. The condos can be split into two discrete suites of 1,890 SF, and 1,580 SF. Additional benefits include a dedicated medical entrance, elevator access to the second floor, and a parking space available for lease. All utilities are included in the common charges. The property has central air conditioning, a speaker system throughout, and recessed and overhead lighting. It is accessible via public transportation, with the C train two blocks away, providing access to Manhattan. The property receives an ICIP real estate tax exemption through tax year ending June 30, 2029.
Key Highlights
- ICIP real estate tax exemption through June 30, 2029.
- 3,470 SF medical office condominium in Fort Greene, Brooklyn, divisible into two suites.
- Functional layout designed for high patient volume, including 11 exam rooms, lab, nurses' station, and staff lounge.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $149.9k | $43.20 |
| − Vacancy | −$34.5k | −$9.94 |
| EGI | $115.4k | $33.26 |
| − OpEx | −$28.9k | −$8.32 |
| NOI | $86.6k | $24.95 |
3,470 SF · lease $43.20/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,570 @ 7.0% cap · market cap 4.95%
Second Best
Healthcare Medical
$1.15M
$1.01M – $1.34M
NOI $80,448 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $201,121 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dr. Michael Jackson: ...
Physician
Little Tooth Pediatric ...
Dental Office
Fort Greene Family ...
Dental Office
Xtrac Laser
Spa & Massage Center
TruSculpting
Spa & Massage Center
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FAQs
What type of property is this?
Medical Office Space - Spacious medical office in Fort Greene, Brooklyn. Excellent accessibility.
Where is this medical office space located?
The property is located at 55 Greene Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: ICIP real estate tax exemption through June 30, 2029.; 3,470 SF medical office condominium in Fort Greene, Brooklyn, divisible into two suites.; **Functional layout designed for high patient volume**, including 11 exam rooms, lab, nurses' station, and staff lounge.
