Modern Medical Suite on Park
For Sale
$3,450,000
Pending
911 Park Avenue, New York, NY 10075
Fully-equipped, adaptable medical space on the Upper East Side.
Property Size3,573 SF
Days on Market405
Property Features for 911 Park Avenue
General Information
Standard status
Pending
Size
3,573 SF
Property subtype
Residential
Amenities
Central air
Excellent light
Pet friendly
Doorman
Elevator
P.S. #6 school District
Professional Units
Building Details
Year Built
1927
Units
44
Listing Agency:
East Side
(212) 836-1075
Listed By:
Paul L Wexler · License #30WE0902877
(212) 836-1075
Source:
Corcoran
Added: Jul 25, 2025
Changed: Aug 8
Last Checked: Sep 1 at 2:45PM
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 at 911 Park Avenue, Suite 1A, this 3,573-square-foot medical suite is available for sale. Currently configured as an upscale dermatology center, the modern space is adaptable to various medical specialties. The suite features a private street entrance on Park Avenue, an elegant waiting and reception area, an operating room, a procedure prep area, a recovery room, and eight exam rooms. It also includes a lab, an office/consult area, six admin offices, a staff kitchen, a conference room, two storage rooms, two restrooms, and an IT closet. The suite is equipped with Midmark Ritter 355 procedure lights in each exam room and the operating room, healthcare-class poured flooring, and a speaker system throughout. It is also wired for video security. The property is easily accessible by public transportation, with the 4 and 6 trains at 77th St, and 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.
Key Highlights
- Fully‑equipped 3,573‑square‑foot medical suite adaptable for various specialties.
- Prime Upper East Side location with private Park Avenue entrance.
- Currently configured as an upscale dermatology center with an operating room, eight exam rooms, and a lab.
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
$111,880
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
3.24%
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%
$2,237,600
$2.2M
Cap Rate 7%
$1,598,286
$1.6M
Cap Rate 9%
$1,243,111
$1.2M
Market Conditions
NOI Build-Up for 3,573 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
$183.9K $51.48/SF
− Vacancy
−$34.8K −$9.73/SF
EGI
$149.2K $41.75/SF
− OpEx
−$37.3K −$10.44/SF
NOI
$111.9K $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%
$2,237,600
Cap Rate 7%
$1,598,286
Cap Rate 9%
$1,243,111
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,880 @ 7.0% cap · market cap 3.24%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.78M
NOI $106,504 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$8.89M
$7.78M – $10.38M
NOI $622,560 @ 7.0% cap · market cap 18.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bond Vet - Upper East Side at 62nd Street — 1049 3rd Ave, Manhattan, NY 10065
- Veterinary Emergency Group — 1215 2nd Ave, New York, NY 10065
- Biscuits & Bath — 1035 3rd ave, new york, ny 10065
- Sutton Animal Hospital — 1147 1st Ave., New York, NY 10065
- Lawrence a Zola, DVM, PC, — 354 E 66th St, New York, NY 10065
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully-equipped, adaptable medical space on the Upper East Side.
Where is this medical office space located?
The property is located at 911 Park Avenue New York, NY.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Fully‑equipped 3,573‑square‑foot medical suite adaptable for various specialties.; Prime Upper East Side location with private Park Avenue entrance.; Currently configured as an upscale dermatology center with an operating room, eight exam rooms, and a lab.
