Medical Office
832 40th St C1&C2, Brooklyn, NY 11232
For Sale
$1,290,000
The condominium layout is presented for medical, insurance, or senior-service office operations.
Property Size3,270 SF
Days on Market49
Property Features for 832 40th St C1&C2
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Winzone Realty Inc
Listed By:
Jian Lian Zheng
(917) 671-7988
Source:
Elliman
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 10 at 8:04AM
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 Winzone Realty Inc
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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.
Built in 2017, this medical office condominium comprises units C1 and C2 at 832 40th St in Brooklyn. Stated potential office applications include medical practice, insurance, and senior services.
The property is near 8th Ave. Its walkScore is 91, transitScore is 89, and bikeScore is 74.
The property is near 8th Ave. Its walkScore is 91, transitScore is 89, and bikeScore is 74.
Key Highlights
- Two medical office condo units: C1 and C2
- Built in 2017
- WalkScore of 91; transitScore of 89; bikeScore of 74
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,580
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,631,600
$1.6M
Cap Rate 7%
$1,165,429
$1.2M
Cap Rate 9%
$906,444
$906.4K
Market Conditions
NOI Build-Up for 3,270 SF
Gross rent
$141.3K $43.20/SF
− Vacancy
−$32.5K −$9.94/SF
EGI
$108.8K $33.26/SF
− OpEx
−$27.2K −$8.32/SF
NOI
$81.6K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,631,600
Cap Rate 7%
$1,165,429
Cap Rate 9%
$906,444
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,580 @ 7.0% cap · market cap 6.32%
Second Best
Healthcare Medical
$1.08M
$947.7K – $1.26M
NOI $75,812 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,529 @ 7.0% cap · market cap 14.69%
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
4,588
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Brooklyn, NY
Properties on Market for Medical Office Space in Brooklyn
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The condominium layout is presented for medical, insurance, or senior-service office operations.
Where is this medical office space located?
The property is located at 832 40th St C1&C2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Two medical office condo units: C1 and C2; Built in 2017; WalkScore of 91; transitScore of 89; bikeScore of 74
