Turnkey Medical Office in
For Sale
$850,000
Pending
829 57th St 3, Brooklyn, NY 11220
Equipped medical office space in Sunset Park for sale.
Property Size1,200 SF
Lot Size0.05 Acres
Days on Market166
Property Features for 829 57th St 3
General Information
Standard status
Pending
Size
1,200 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,465
Building Details
Building Size
1,200 SF
Year Built
2008
Listing Agency:
ProBase Real Estate
(718) 210-2727
Listed By:
Chun Hung (Leo) Tse · License #CT7740
(718) 210-2727
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:18PM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
Located in the heart of Sunset Park, this turnkey medical office offers an exceptional opportunity for owner-operators or investors. The suite is situated on the 3rd floor of an elevator building and features approximately 1,105 square feet of thoughtfully designed space, suitable for a range of medical or professional uses. The layout includes a bright, welcoming lobby, a secure enclosed front desk area, five generously sized private offices, a dedicated storage room, a cozy pantry, and two bathrooms. Central air conditioning and heating ensure year-round comfort. The property benefits from its location along bustling 8th Avenue, providing exceptional visibility and high foot traffic. Commuting is convenient with the N train and B9 and B70 bus lines nearby, offering seamless access. This impeccably maintained suite is ideal for a growing practice seeking a prime medical office space with strong long-term potential.
Key Highlights
- Prime location on 8th Avenue in Sunset Park with high visibility and foot traffic.
- Turnkey, fully equipped medical office suite ready for immediate use.
- Approximately 1,105 square feet of space with 5 private offices, storage, pantry, and 2 bathrooms.
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
$32,998
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
3.88%
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%
$659,960
$660.0K
Cap Rate 7%
$471,400
$471.4K
Cap Rate 9%
$366,644
$366.6K
Market Conditions
NOI Build-Up for 1,105 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
$55.7K $50.40/SF
− Vacancy
−$11.7K −$10.58/SF
EGI
$44.0K $39.82/SF
− OpEx
−$11.0K −$9.95/SF
NOI
$33.0K $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%
$659,960
Cap Rate 7%
$471,400
Cap Rate 9%
$366,644
Alternative Uses
Best Use
Office B
$471.4K
$412.5K – $550.0K
NOI $32,998 @ 7.0% cap · market cap 3.88%
Second Best
Healthcare Medical
$320.1K
$280.1K – $373.4K
NOI $22,404 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$716.3K
$626.8K – $835.7K
NOI $50,144 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,626
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Equipped medical office space in Sunset Park for sale.
Where is this medical office space located?
The property is located at 829 57th St 3 Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location on 8th Avenue in Sunset Park with high visibility and foot traffic.; Turnkey, fully equipped medical office suite ready for immediate use.; Approximately 1,105 square feet of space with 5 private offices, storage, pantry, and 2 bathrooms.
