Medical Office
664 51st St, Brooklyn, NY 11220
For Sale
New
$599,000
Vacant possession offers flexibility for a clinic, professional office, or community facility.
Property Size1,000 SF
Price / SF$599
Days on Market2
Property Features for 664 51st St
General Information
Standard status
Size
Property subtype
Additional Details
Condition
HOA Fee
Public Transit
Office Units
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Xiaodan (Ivy) Xu
(718) 680-2776
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 4:53PM
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 E House Realty & Mgt. Inc.
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Investment Insights
Based on property information with market context.
This medical office condominium contains 1,000 square feet in a 20-by-60-foot layout. Built in 2019, the unit includes two private bathrooms and a rear window. It will be delivered vacant and is identified for medical, professional office, or community facility use.
The property is at 664 51st St in Brooklyn’s Sunset Park. NYU Langone Hospital—Brooklyn and Sunset Terrace Family Health Center are described as minutes away. The N and R subway lines are nearby.
The property is at 664 51st St in Brooklyn’s Sunset Park. NYU Langone Hospital—Brooklyn and Sunset Terrace Family Health Center are described as minutes away. The N and R subway lines are nearby.
Key Highlights
- 1,000‑square‑foot medical office condominium built in 2019
- 20‑by‑60‑foot layout with two private bathrooms and a rear window
- Vacant delivery; identified for clinic, professional office, or community facility use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,862
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,240
$597.2K
Cap Rate 7%
$426,600
$426.6K
Cap Rate 9%
$331,800
$331.8K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$50.4K $50.40/SF
− Vacancy
−$10.6K −$10.58/SF
EGI
$39.8K $39.82/SF
− OpEx
−$10.0K −$9.95/SF
NOI
$29.9K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,240
Cap Rate 7%
$426,600
Cap Rate 9%
$331,800
Alternative Uses
Best Use
Office B
$426.6K
$373.3K – $497.7K
NOI $29,862 @ 7.0% cap · market cap 4.99%
Second Best
Healthcare Medical
$289.6K
$253.4K – $337.9K
NOI $20,275 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$648.3K
$567.2K – $756.3K
NOI $45,379 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
7,297
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Brooklyn, NY
Properties on Market for Medical Office Space in Brooklyn
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant possession offers flexibility for a clinic, professional office, or community facility.
Where is this medical office space located?
The property is located at 664 51st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,000‑square‑foot medical office condominium built in 2019; 20‑by‑60‑foot layout with two private bathrooms and a rear window; Vacant delivery; identified for clinic, professional office, or community facility use
