Medical Office Suite with Exam
For Sale
$575,000
55 Greene Ave, Brooklyn, NY 11238
Professional medical suite with private treatment rooms, reception space, central air, and elevator access in a healthcare-focused building.
Property Size923 SF
Price / SF$622.97
Days on Market377
Property Features for 55 Greene Ave
General Information
Standard status
Active
Size
923 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Amenities
private offices or exam rooms
bathrooms
pantry
lobby/reception area
Central Air
3
Elevator
City
Building Details
Year Built
2003
Listing Agency:
(212) 891-7000
Listed By:
Douglas Elliman Real Estate
(516) 280-0868
Source:
Xome
Added: Aug 27, 2025
Changed: Sep 2
Last Checked: Sep 7 at 4:30AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This medical office suite at 55 Greene Ave Unit 2B provides a practical layout for healthcare operations, with five private offices or exam rooms, two bathrooms, a pantry, and a lobby/reception area. Central air supports the interior, and elevator access serves the building. Constructed in 2003, the property is within an all-medical building and offers a professional setting for medical, dental, and wellness practices.
The suite is positioned in Brooklyn’s established medical corridor, surrounded by healthcare practices and accessible by public transportation. Its combination of private rooms, shared reception space, support areas, and building amenities creates a defined office configuration for professional healthcare use.
The suite is positioned in Brooklyn’s established medical corridor, surrounded by healthcare practices and accessible by public transportation. Its combination of private rooms, shared reception space, support areas, and building amenities creates a defined office configuration for professional healthcare use.
Key Highlights
- Five private offices or exam rooms
- Two bathrooms plus a pantry
- Lobby and reception area
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
$23,027
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
4.00%
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%
$460,540
$460.5K
Cap Rate 7%
$328,957
$329.0K
Cap Rate 9%
$255,856
$255.9K
Market Conditions
NOI Build-Up for 923 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
$39.9K $43.20/SF
− Vacancy
−$9.2K −$9.94/SF
EGI
$30.7K $33.26/SF
− OpEx
−$7.7K −$8.32/SF
NOI
$23.0K $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%
$460,540
Cap Rate 7%
$328,957
Cap Rate 9%
$255,856
Alternative Uses
Best Use
Office B
$329.0K
$287.8K – $383.8K
NOI $23,027 @ 7.0% cap · market cap 4.00%
Second Best
Healthcare Medical
$305.7K
$267.5K – $356.7K
NOI $21,399 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$764.2K
$668.7K – $891.6K
NOI $53,497 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,652
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
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 - Professional medical suite with private treatment rooms, reception space, central air, and elevator access in a healthcare-focused building.
Where is this medical office space located?
The property is located at 55 Greene Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Five private offices or exam rooms; Two bathrooms plus a pantry; Lobby and reception area
