Multi-Provider Medical Office
7620 Bay Parkway 1a, Brooklyn, NY 11214
For Sale
New
$1,698,000
Currently operating as a neurology and pain management practice, the space includes medical equipment.
Property Size1,864 SF
Price / SF$910.94
Days on Market4
Property Features for 7620 Bay Parkway 1a
General Information
Standard status
Size
Additional Details
Business Included
Public Transit
Currently Operating
Property Use
Medical Specialty
Listing Agency:
Empire State Realty Group NY
Listed By:
Aldo Iemma · License NY #10311208950
(346) 462-9500
Source:
Realtyconnectusa
Added: Nov 10
Last Checked: Aug 25 at 5:21AM
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 NY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office condominium is currently used for neurology and pain management. Its configuration can accommodate three doctors working at the same time, and the medical equipment is included. The office and practice may be purchased together or separately; the seller prefers a combined sale.
The property is at 7620 Bay Parkway in Brooklyn, across the street from Seth Lowe Park. Bus and train service operates in the surrounding area, with routes running 24 hours. The property is zoned R6.
The property is at 7620 Bay Parkway in Brooklyn, across the street from Seth Lowe Park. Bus and train service operates in the surrounding area, with routes running 24 hours. The property is zoned R6.
Key Highlights
- Configured for up to 3 doctors at once
- Medical equipment included
- Currently used for neurology and pain management
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,318
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,360
$1.0M
Cap Rate 7%
$733,114
$733.1K
Cap Rate 9%
$570,200
$570.2K
Market Conditions
NOI Build-Up for 1,864 SF
Gross rent
$85.0K $45.60/SF
− Vacancy
−$16.6K −$8.89/SF
EGI
$68.4K $36.71/SF
− OpEx
−$17.1K −$9.18/SF
NOI
$51.3K $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 Rate 5%
$1,026,360
Cap Rate 7%
$733,114
Cap Rate 9%
$570,200
Alternative Uses
Best Use
Office B
$733.1K
$641.5K – $855.3K
NOI $51,318 @ 7.0% cap · market cap 3.02%
Second Best
Healthcare Medical
$587.1K
$513.8K – $685.0K
NOI $41,100 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.09M
$951.5K – $1.27M
NOI $76,116 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Medical Office Space in Brooklyn, NY
Properties on Market for Medical Office Space in Brooklyn
Vacancy Rate% for Office in Northeast region
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 - Currently operating as a neurology and pain management practice, the space includes medical equipment.
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: Configured for up to 3 doctors at once; Medical equipment included; Currently used for neurology and pain management
