Medical Office Condo with
For Sale
$1,698,000
7620 Bay Parkway 1a Brooklyn, Ny, NY 11214
Configured for concurrent use by multiple physicians, with medical equipment and an established practice in place.
Property Size1,846 SF
Price / SF$919.83
Days on Market102
Property Features for 7620 Bay Parkway 1a Brooklyn
General Information
Standard status
Active
Size
1,846 SF
Zoning
R6
Taxes and HOA fees
Annual Taxes
$40
Amenities
No
Public
1846
Building Details
Building Size
1,846 SF
Listed By:
Andrew Boodhoo
(718) 684-8000
Source:
Parkassets
Added: Jul 8
Changed: Oct 7
Last Checked: Oct 7 at 9:27AM
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 Andrew Boodhoo
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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 at 7620 Bay Parkway 1A is currently configured for neurology and pain management services. The premises can accommodate three doctors at the same time, and the sale includes the existing medical equipment. The property remains tax abated and is designated R6.
The office is positioned at a commercial intersection in Bensonhurst, Brooklyn, across from Seth Lowe Park. Multiple bus and train lines operate in the area around the clock, providing transit access for staff and patients. The medical practice and condominium are available together or separately, subject to the seller’s preference.
The office is positioned at a commercial intersection in Bensonhurst, Brooklyn, across from Seth Lowe Park. Multiple bus and train lines operate in the area around the clock, providing transit access for staff and patients. The medical practice and condominium are available together or separately, subject to the seller’s preference.
Key Highlights
- Medical office condominium at 7620 Bay Parkway 1A, Brooklyn, NY 11214
- Configured for simultaneous use by 3 doctors
- Medical equipment included with the sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,822
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,449
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for concurrent use by multiple physicians, with medical equipment and an established practice in place.
Where is this medical office space located?
The property is located at 7620 Bay Parkway 1a Brooklyn Ny, 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 1A, Brooklyn, NY 11214; Configured for simultaneous use by 3 doctors; Medical equipment included with the sale
