Medical-Dental Condominium
For Sale
$299,000
602-139 Centre Street, New York, NY 10013
Fully built-out medical-dental suite with exam rooms, treatment area, and admin space for immediate operational use.
Property Size905 SF
Price / SF$330.39
Days on Market127
Property Features for 602-139 Centre Street
General Information
Standard status
Active
Size
905 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12,973
Listing Agency:
DiTommaso Real Estate
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 667-8000
Source:
Exprealty
Added: May 11
Changed: Sep 2
Last Checked: Sep 13 at 1:21PM
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 DiTommaso Real Estate
Investment Insights
Based on property information with market context.
This fully built-out medical-dental practice is offered in a commercial condominium with an efficient full-floor layout. The 905 square foot space is arranged to support patient flow and clinical productivity, with a welcoming reception and patient waiting area, three private exam/treatment rooms, dedicated consultation offices, and a spacious open treatment area suitable for integrated medical-dental services. Administrative workstations, file storage, and staff offices are incorporated within the floor plan, with clinical, administrative, and support zones separated for day-to-day operations. High ceilings, bright finishes, and abundant natural light from multiple windows help create an inviting work environment.
The business has been at this location for 20 years and is being offered with an established patient base of over 200,000, with NOI stated at $2M. The owner reports the practice is ready for immediate transition.
For qualified buyers or tenant operators, the suite is designed to function as an active practice from day one, with the core room types already in place for patient intake, consultation, and treatment. Interested parties can review complete details and schedule a private tour to confirm the layout and operational fit before proceeding.
The business has been at this location for 20 years and is being offered with an established patient base of over 200,000, with NOI stated at $2M. The owner reports the practice is ready for immediate transition.
For qualified buyers or tenant operators, the suite is designed to function as an active practice from day one, with the core room types already in place for patient intake, consultation, and treatment. Interested parties can review complete details and schedule a private tour to confirm the layout and operational fit before proceeding.
Key Highlights
- Fully built‑out medical‑dental practice in a commercial condominium with an established patient base of 200,000+
- NOI of $2M and ready for immediate transition
- 905 sq. ft. full‑floor layout designed for patient flow and clinical productivity
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
$26,976
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
9.02%
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%
$539,520
$539.5K
Cap Rate 7%
$385,371
$385.4K
Cap Rate 9%
$299,733
$299.7K
Market Conditions
NOI Build-Up for 905 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
$48.9K $54.00/SF
− Vacancy
−$3.9K −$4.32/SF
EGI
$45.0K $49.68/SF
− OpEx
−$18.0K −$19.87/SF
NOI
$27.0K $29.81/SF
Area
New York, NY
Vacancy
8.00%
Lease Rate
$54.00 /SF/Yr
Expense Ratio
40.00%
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%
$539,520
Cap Rate 7%
$385,371
Cap Rate 9%
$299,733
Alternative Uses
Best Use
Office B
$404.8K
$354.2K – $472.3K
NOI $28,338 @ 7.0% cap · market cap 9.48%
Second Best
Healthcare Medical
$385.4K
$337.2K – $449.6K
NOI $26,976 @ 7.0% cap · market cap 9.02%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,687 @ 7.0% cap · market cap 52.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
36,022
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10013, NY
31,042
Population
15,933
Households
1.9
Avg Household Size
36
Median Age
72%
College-Educated
89%
High-School Grad
0.5 sq mi
ZIP Area
62,084
Density / Sq Mi
$159,474
Median Household Income
$92,765
Median Earnings
$2,378
Median Rent
$2,000,001
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out medical-dental suite with exam rooms, treatment area, and admin space for immediate operational use.
Where is this medical office space located?
The property is located at 602-139 Centre Street New York, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully built‑out medical‑dental practice in a commercial condominium with an established patient base of 200,000+; NOI of $2M and ready for immediate transition; 905 sq. ft. full‑floor layout designed for patient flow and clinical productivity
