Medical Office Space for
For Sale
$1,698,000
7620 Bay Parkway 1A, Brooklyn, NY 11214
Medical office space offered for sale in Brooklyn’s Kings County, suited for healthcare-related professional use.
Property Size1,846 SF
Days on Market105
Property Features for 7620 Bay Parkway 1A
General Information
Standard status
Active
Size
1,846 SF
Taxes and HOA fees
Annual Taxes
$40
Amenities
Central Air
Baseboard
Building Details
Building Size
1,846 SF
Listing Agency:
Empire State Realty Group
(646) 932-4441
Listed By:
Aldo Iemma · License #10311208950
(646) 932-4441
Source:
Evrealestate
Added: May 4
Changed: Aug 8
Last Checked: Aug 16 at 4:34AM
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 Empire State Realty Group
Investment Insights
Based on property information with market context.
This offering is a medical office space for sale at 7620 Bay Parkway 1A in Brooklyn, New York (Kings County). The property is presented as an office unit within the medical office and commercial real estate categories.
The address places the space in Brooklyn, within Kings County, offering buyers seeking a healthcare-focused office configuration in a built-in office market. No additional details on layout, condition, or amenities are provided in the listing information.
For buyers looking to acquire an office unit intended for medical office use, this property provides a direct purchase option in Brooklyn. It may be well suited to practices and professional service tenants that require a dedicated office environment, subject to due diligence on the unit’s specifics and any building or operating requirements not included in the available data.
The address places the space in Brooklyn, within Kings County, offering buyers seeking a healthcare-focused office configuration in a built-in office market. No additional details on layout, condition, or amenities are provided in the listing information.
For buyers looking to acquire an office unit intended for medical office use, this property provides a direct purchase option in Brooklyn. It may be well suited to practices and professional service tenants that require a dedicated office environment, subject to due diligence on the unit’s specifics and any building or operating requirements not included in the available data.
Key Highlights
- Medical office space for sale in Brooklyn, Kings County
- Central A/C
- Baseboard heating
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
$50,822
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
2.99%
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%
$1,016,440
$1.0M
Cap Rate 7%
$726,029
$726.0K
Cap Rate 9%
$564,689
$564.7K
Market Conditions
NOI Build-Up for 1,846 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
$84.2K $45.60/SF
− Vacancy
−$16.4K −$8.89/SF
EGI
$67.8K $36.71/SF
− OpEx
−$16.9K −$9.18/SF
NOI
$50.8K $27.53/SF
Area
ZIP 11214
Vacancy
19.50%
Lease Rate
$45.60 /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%
$1,016,440
Cap Rate 7%
$726,029
Cap Rate 9%
$564,689
Alternative Uses
Best Use
Office B
$726.0K
$635.3K – $847.0K
NOI $50,822 @ 7.0% cap · market cap 2.99%
Second Best
Healthcare Medical
$581.5K
$508.8K – $678.4K
NOI $40,703 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.08M
$942.3K – $1.26M
NOI $75,381 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,723
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Bath Animal Hospital — 2125 Bath Ave, Brooklyn, NY 11214
- Horovitz E DVM — 8317 20th Ave, Brooklyn, NY 11214
- 4 Legged Friends Veterinary Clinic PC — 1951 Bath Ave, Brooklyn, NY 11214
- Animal Clinic of 20th avenue (Dr. Adrian Alexandru, Dr. Gary Swails, Dr. A. Douglas ) — 8317 20th ave, brooklyn, ny 11214
- Douglas a G DVM — 1946 Bath Ave, Brooklyn, NY 11214
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space offered for sale in Brooklyn’s Kings County, suited for healthcare-related professional use.
Where is this medical office space located?
The property is located at 7620 Bay Parkway 1A Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Medical office space for sale in Brooklyn, Kings County; Central A/C; Baseboard heating
