Medical Office
New
For Sale
$1,500,000
821 53rd St C2, Brooklyn, NY 11220
Condominium space suited to medical, training, nonprofit, and community-oriented operations.
Property Size2,374 SF
Price / SF$631.84
Days on Market4
Property Features for 821 53rd St C2
General Information
Standard status
Active
Size
2,374 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,520
Building Details
Building Size
2,374 SF
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Mingqin Sun
(718) 551-4795
Source:
Elliman
Added: Sep 18
Last Checked: Sep 21 at 8:58AM
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 E House Realty & Mgt. Inc.
Investment Insights
Based on property information with market context.
This 2,374-square-foot condominium commercial space is classified as medical office space and supports several potential operating concepts, including medical offices, home care companies, training facilities, nonprofit organizations, youth or senior centers, and children’s playgrounds. A seven-year tax abatement is also noted.
The property is located at 821 53rd St C2, Brooklyn, NY 11220. The N train station and B70 bus stop are nearby, with restaurants, supermarkets, and pharmacies in the surrounding area. The location records a Walk Score of 91, a Transit Score of 89, and a BikeScore of 74.
The property is located at 821 53rd St C2, Brooklyn, NY 11220. The N train station and B70 bus stop are nearby, with restaurants, supermarkets, and pharmacies in the surrounding area. The location records a Walk Score of 91, a Transit Score of 89, and a BikeScore of 74.
Key Highlights
- 2374 SqFt of condominium commercial space
- Seven‑year tax abatement
- Near the N train station and B70 Bus stop
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
$70,892
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
4.73%
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%
$1,417,840
$1.4M
Cap Rate 7%
$1,012,743
$1.0M
Cap Rate 9%
$787,689
$787.7K
Market Conditions
NOI Build-Up for 2,374 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
$119.6K $50.40/SF
− Vacancy
−$25.1K −$10.58/SF
EGI
$94.5K $39.82/SF
− OpEx
−$23.6K −$9.95/SF
NOI
$70.9K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$1,417,840
Cap Rate 7%
$1,012,743
Cap Rate 9%
$787,689
Alternative Uses
Best Use
Office B
$1.01M
$886.2K – $1.18M
NOI $70,892 @ 7.0% cap · market cap 4.73%
Second Best
Healthcare Medical
$687.6K
$601.7K – $802.2K
NOI $48,133 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,730 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,625
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium space suited to medical, training, nonprofit, and community-oriented operations.
Where is this medical office space located?
The property is located at 821 53rd St C2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2374 SqFt of condominium commercial space; Seven‑year tax abatement; Near the N train station and B70 Bus stop
