Medical Office Suite with Five
For Sale
$850,000
829 57TH ST Unit 3, Brooklyn, NY 11220
Elevator-served workspace with reception, private offices, storage, pantry, and two bathrooms.
Property Size1,200 SF
Price / SF$708.33
Days on Market218
Property Features for 829 57TH ST Unit 3
General Information
Standard status
Active
Size
1,200 SF
Elevators
Yes
Property subtype
Office
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
3
Office Units
1
Amenities
lobby
central air conditioning and heating
3
Hardwood
Flat
R6
Building Details
Year Built
2008
Listing Agency:
ProBase Real Estate
Listed By:
Chun Hung Tse · License #CT7740
(718) 210-2727
Source:
Xome
Added: Feb 1
Changed: Aug 31
Last Checked: Aug 31 at 1:12PM
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.
This 1,200-square-foot medical office suite occupies the third floor of an elevator-equipped building constructed in 2008. The layout includes a welcoming lobby, enclosed reception area, five private offices, a storage room, pantry, and two bathrooms. Central air conditioning and heating support year-round comfort for staff and visitors.
The property is located at 829 57th St Unit 3 in Brooklyn, NY 11220. Access to the N train and B9 and B70 bus lines is available nearby, supporting convenient travel for clients and employees. The suite is suited to medical or professional office operations, with a configuration that separates reception, work areas, and support spaces.
The property is located at 829 57th St Unit 3 in Brooklyn, NY 11220. Access to the N train and B9 and B70 bus lines is available nearby, supporting convenient travel for clients and employees. The suite is suited to medical or professional office operations, with a configuration that separates reception, work areas, and support spaces.
Key Highlights
- 1,200‑square‑foot third‑floor medical office suite
- Elevator building constructed in 2008
- Five private offices with an enclosed reception area
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
$35,834
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
4.22%
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%
$716,680
$716.7K
Cap Rate 7%
$511,914
$511.9K
Cap Rate 9%
$398,156
$398.2K
Market Conditions
NOI Build-Up for 1,200 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
$60.5K $50.40/SF
− Vacancy
−$12.7K −$10.58/SF
EGI
$47.8K $39.82/SF
− OpEx
−$11.9K −$9.95/SF
NOI
$35.8K $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%
$716,680
Cap Rate 7%
$511,914
Cap Rate 9%
$398,156
Alternative Uses
Best Use
Office B
$511.9K
$447.9K – $597.2K
NOI $35,834 @ 7.0% cap · market cap 4.22%
Second Best
Healthcare Medical
$347.6K
$304.1K – $405.5K
NOI $24,330 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$777.9K
$680.7K – $907.6K
NOI $54,455 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Paved road access
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 - Elevator-served workspace with reception, private offices, storage, pantry, and two bathrooms.
Where is this medical office space located?
The property is located at 829 57TH ST Unit 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: 1,200‑square‑foot third‑floor medical office suite; Elevator building constructed in 2008; Five private offices with an enclosed reception area
