Medical Office on Park
For Sale
$275,000
910 Park Avenue, New York, NY 10075
Ground floor medical office with private entrance on Park Avenue.
Property Size725 SF
Price / SF$379.31
Days on Market946
Property Features for 910 Park Avenue
General Information
Standard status
Active
Size
725 SF
Property subtype
Residential
Amenities
Central air
Excellent light
Pet friendly
Concierge
Doorman
Elevator
Professional Units
Building Details
Year Built
1925
Units
28
Listing Agency:
East Side
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Feb 7, 2024
Changed: Sep 3
Last Checked: Sep 10 at 6:06AM
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 East Side
Investment Insights
Based on property information with market context.
Located on the Upper East Side between East 79th and East 80th Street, 910 Park Ave, Suite 1N is a 725 SF ground floor medical office available for sale. It features a private street entrance on Park Avenue and is situated inside a full-service luxury pre-war co-op building. The layout includes an admin/reception area, a waiting area, a large consults/office, a full bathroom, and a closet. The space is currently configured as a psychiatry practice but is adaptable to any medical specialty. Additional features include seven windows and central air conditioning. The property is easily accessible by public transportation via the 4, 5, 6, N, Q, and R trains at 86th St, as well as Upper East Side bus routes. The building is proximate to Lenox Hill Hospital and Mount Sinai. The maintenance is $4,906.75 per month, with 380 shares. The flip tax is 2% paid by the buyer, and financing has a 50% maximum.
Key Highlights
- Prime Upper East Side location on Park Avenue in a full‑service, pre‑war co‑op building.
- Private street entrance offering exclusivity and convenience.
- Adaptable layout suitable for any medical specialty, currently configured as a psychiatry practice.
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
$22,702
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
8.26%
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%
$454,040
$454.0K
Cap Rate 7%
$324,314
$324.3K
Cap Rate 9%
$252,244
$252.2K
Market Conditions
NOI Build-Up for 725 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
$37.3K $51.48/SF
− Vacancy
−$7.1K −$9.73/SF
EGI
$30.3K $41.75/SF
− OpEx
−$7.6K −$10.44/SF
NOI
$22.7K $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%
$454,040
Cap Rate 7%
$324,314
Cap Rate 9%
$252,244
Alternative Uses
Best Use
Office B
$324.3K
$283.8K – $378.4K
NOI $22,702 @ 7.0% cap · market cap 8.26%
Second Best
Healthcare Medical
$308.7K
$270.1K – $360.2K
NOI $21,611 @ 7.0% cap · market cap 7.86%
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.11M
NOI $126,324 @ 7.0% cap · market cap 45.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
26,459
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10075, NY
27,796
Population
16,415
Households
1.7
Avg Household Size
41
Median Age
85%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
138,980
Density / Sq Mi
$146,556
Median Household Income
$112,549
Median Earnings
$2,390
Median Rent
$1,097,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Ground floor medical office with private entrance on Park Avenue.
Where is this medical office space located?
The property is located at 910 Park Avenue New York, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Prime Upper East Side location on Park Avenue in a full‑service, pre‑war co‑op building.; Private street entrance offering exclusivity and convenience.; Adaptable layout suitable for any medical specialty, currently configured as a psychiatry practice.
