Medical Office Condo with
For Sale
$1,698,000
7620 Bay Parkway, Brooklyn, NY 11214
Commercial, Brooklyn, NY
Property Size1,846 SF
Lot Size0.04 Acres
Price / SF$919.83
Days on Market151
Property Features for 7620 Bay Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Subdivision
Bensonhurst
Standard status
Active
Size
1,846 SF
Lot size
0.04 Acres
Building Details
Number of units
1
Building materials
Block, Brick
Roof type
Asphalt
Listing Agency:
Empire State Realty Group
(646) 932-4442
Listed By:
Aldo Iemma · License #10311208950
(646) 932-4441
Added: May 4
Changed: Sep 6
Last Checked: Oct 1 at 7:06PM
MLS# 501126
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office condominium at 7620 Bay Parkway is currently configured for neurology and pain management services. The property can accommodate three doctors at the same time, and the sale includes the existing medical equipment. The building features block and brick construction with an asphalt roof, and the property is zoned C. A tax abatement remains in effect.
The property occupies a commercial intersection in Bensonhurst with bus and train service operating 24 hours. Seth Lowe Park is directly across the street, providing nearby benches and activity areas. The offering may include the operating medical practice separately or together with the condominium, as supported by the seller’s preferred transaction structure.
The property occupies a commercial intersection in Bensonhurst with bus and train service operating 24 hours. Seth Lowe Park is directly across the street, providing nearby benches and activity areas. The offering may include the operating medical practice separately or together with the condominium, as supported by the seller’s preferred transaction structure.
Key Highlights
- Medical office condominium at 7620 Bay Parkway, Brooklyn, NY 11214
- Configured for simultaneous use by 3 doctors
- Medical equipment included with the property
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bath Animal Hospital — 2125 Bath Ave, Brooklyn, NY 11214
- Douglas a G DVM — 1946 Bath 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
- Horovitz E DVM — 8317 20th Ave, Brooklyn, NY 11214
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical condominium configured for simultaneous use by three doctors, with equipment included and tax abatement in place.
Where is this medical office space located?
The property is located at 7620 Bay Parkway 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 condominium at 7620 Bay Parkway, Brooklyn, NY 11214; Configured for simultaneous use by 3 doctors; Medical equipment included with the property
