Ground-Floor Medical Office
For Sale
$895,000
875 Fifth Avenue, New York, NY 10021
Renovated suite with private reception, consultation rooms, and natural light on a prestigious Fifth Avenue address.
Property Size1,000 SF
Price / SF$895
Days on Market82
Property Features for 875 Fifth Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Building Details
Building Size
1,000 SF
Listing Agency:
Kassin Sabbagh Realty (KSR)
(917) 656-5304
Listed By:
Claude Kolb
Source:
Lee-associates
Added: Jun 2
Changed: Aug 20
Last Checked: Aug 22 at 4:11AM
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 Kassin Sabbagh Realty (KSR)
Investment Insights
Based on property information with market context.
This ground-floor cooperative office suite offers approximately 1,000 square feet of renovated medical or professional space with a refined, client-ready layout. The interior is arranged with a private reception area that welcomes visitors directly from the building lobby, along with multiple consultation rooms and an open-plan workspace designed for day-to-day operations. Oversized windows bring in abundant natural light throughout, while polished finishes, built-in storage, and efficient support areas help keep the space functional for high-end professional use.
The suite benefits from gracious Fifth Avenue frontage and a dedicated Fifth Avenue entrance, supporting a straightforward, recognizable arrival experience. With controlled access and direct access to the lobby, the building provides both prestige and security, along with a dedicated service core that supports convenient back-of-house flow.
Well suited for medical practices and professional offices that need a polished, reception-centric environment with private rooms and a flexible team workspace, this suite’s configuration supports a range of patient and client workflows. Cooperative ownership can also appeal to users seeking long-term stability in a maintained, high-quality building setting.
The suite benefits from gracious Fifth Avenue frontage and a dedicated Fifth Avenue entrance, supporting a straightforward, recognizable arrival experience. With controlled access and direct access to the lobby, the building provides both prestige and security, along with a dedicated service core that supports convenient back-of-house flow.
Well suited for medical practices and professional offices that need a polished, reception-centric environment with private rooms and a flexible team workspace, this suite’s configuration supports a range of patient and client workflows. Cooperative ownership can also appeal to users seeking long-term stability in a maintained, high-quality building setting.
Key Highlights
- Renovated 1,000‑SF ground‑floor medical or professional office/co‑op suite
- Private reception area with client access from the building lobby via dedicated Fifth Avenue entrance
- Includes multiple consultation rooms and an open‑plan workspace configurable for collaborative teams
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
$31,313
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
3.50%
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%
$626,260
$626.3K
Cap Rate 7%
$447,329
$447.3K
Cap Rate 9%
$347,922
$347.9K
Market Conditions
NOI Build-Up for 1,000 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
$51.5K $51.48/SF
− Vacancy
−$9.7K −$9.73/SF
EGI
$41.8K $41.75/SF
− OpEx
−$10.4K −$10.44/SF
NOI
$31.3K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /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%
$626,260
Cap Rate 7%
$447,329
Cap Rate 9%
$347,922
Alternative Uses
Best Use
Office B
$447.3K
$391.4K – $521.9K
NOI $31,313 @ 7.0% cap · market cap 3.50%
Second Best
Healthcare Medical
$425.8K
$372.6K – $496.8K
NOI $29,808 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 19.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26,446
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10021, NY
45,691
Population
29,248
Households
1.6
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
0.4 sq mi
ZIP Area
114,228
Density / Sq Mi
$156,712
Median Household Income
$99,886
Median Earnings
$3,002
Median Rent
$1,529,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated suite with private reception, consultation rooms, and natural light on a prestigious Fifth Avenue address.
Where is this medical office space located?
The property is located at 875 Fifth Avenue New York, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Renovated 1,000‑SF ground‑floor medical or professional office/co‑op suite; Private reception area with client access from the building lobby via dedicated Fifth Avenue entrance; Includes multiple consultation rooms and an open‑plan workspace configurable for collaborative teams
