Medical Office
For Sale
$1,290,000
832 40th Street #C1&C2, Brooklyn, NY 11232
The 2017-built condominium offers space for medical and other professional office uses.
Property Size3,270 SF
Price / SF$394.50
Days on Market40
Property Features for 832 40th Street #C1&C2
General Information
Standard status
Active
Size
3,270 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,000
Building Details
Building Size
3,270 SF
Year Built
2017
Listing Agency:
Winzone Realty Inc
(718) 676-6611
Listed By:
Jian Lian Zheng
(917) 671-7988
Source:
Clairedleone
Added: Sep 22
Changed: Oct 29
Last Checked: Oct 29 at 7:56PM
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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Investment Insights
Based on property information with market context.
This medical office condominium contains 3,270 square feet and was built in 2017. The property is identified as suitable for a senior center, physician’s office, or insurance office.
The building is near the busy area of 8th Avenue in Brooklyn.
The building is near the busy area of 8th Avenue in Brooklyn.
Key Highlights
- 3,270 square feet of medical office condominium space
- Built in 2017
- Situated near a busy area of 8th Avenue in Brooklyn
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.
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Property Analytics
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Open 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
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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 - The 2017-built condominium offers space for medical and other professional office uses.
Where is this medical office space located?
The property is located at 832 40th Street #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: 3,270 square feet of medical office condominium space; Built in 2017; Situated near a busy area of 8th Avenue in Brooklyn
