Brooklyn Development Site For
8120 15th Avenue Brooklyn, NY 11228
For Sale
Contact for pricing
Development site in Dyker Heights, Brooklyn, with existing medical facility.
Property Size5,700 SF
Lot Size0.20 Acres
Price / SF$859.65
Days on Market63
Property Features for 8120 15th Avenue
General Information
- Standard status
- Active
- Size
- 5,700 SF
- Lot size
- 0.20 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1931
Listing Agency:
Peerless Properties Corp
Listed By:
Richard Dinerman · License #35DIO767533
Source:
Crexi
Added: May 22
Changed: Jul 10
Last Checked: Jul 23 at 3:34PM
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 Peerless Properties Corp
Investment Insights
Based on property information with market context.
This property in Dyker Heights, Brooklyn, presents a prime development opportunity. The site currently hosts an active medical facility spanning 9900 square feet, which can remain for medical use. Alternatively, the site allows for the construction of up to 13000 square feet for residential purposes. The owner is willing to provide time for prospective purchasers to secure zoning and permits. Potential development after demolition could involve strictly residential use, most likely a 3-story attached two-family residence with a total floor area of 8,550 square feet, or potentially a 3-story multiple dwelling building, which can be condominiums of up to 12,825 square feet total with no required parking under the Qualifying Residential Site (QRS) zoning, recently introduced under the "City of Yes" zoning. The existing medical office building, built in 1931, occupies 5700 square feet. The lot size is 8550 square feet, zoned R4 (QRS)(Outer T.Z.) with a minimum required lot size of 30' frontage (2850 square feet). On-site parking is available.
Key Highlights
- Prime development site in Dyker Heights with potential for residential or continued medical use.
- Existing 9900 sq ft medical facility currently in operation with on‑site parking.
- Potential to build up to 12,825 sq ft of residential condominiums under 'City of Yes' zoning with no required parking.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $246.2k | $43.20 |
| − Vacancy | −$56.6k | −$9.94 |
| EGI | $189.6k | $33.26 |
| − OpEx | −$47.4k | −$8.32 |
| NOI | $142.2k | $24.95 |
5,700 SF · lease $43.20/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,204 @ 7.0% cap · market cap 2.90%
Second Best
Healthcare Medical
$1.89M
$1.65M – $2.20M
NOI $132,149 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$4.72M
$4.13M – $5.51M
NOI $330,372 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Scafuri Debbie
Employment Agency
PATH Family Center
Medical Clinic
Guadagnino Victor J ...
Physician
Kendro Egias
Gym & Fitness Center
Samer Tawadros Dawood
Physician
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- Animal Clinic of 20th avenue (Dr. Adrian Alexandru, Dr. Gary Swails, Dr. A. Douglas ) — 8317 20th ave, brooklyn, ny 11214
FAQs
What type of property is this?
Medical Office Space - Development site in Dyker Heights, Brooklyn, with existing medical facility.
Where is this medical office space located?
The property is located at 8120 15th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Prime development site in Dyker Heights with potential for residential or continued medical use.; Existing 9900 sq ft medical facility currently in operation with on‑site parking.; Potential to build up to **12,825 sq ft of residential condominiums** under 'City of Yes' zoning with no required parking.
