Medical Office on Upper
For Sale
Contact for pricing
911 Park Ave 1B, New York, NY 10075
Medical office suite for sale on Park Avenue.
Property Size1,550 SF
Price / SF$870.97
Days on Market198
Property Features for 911 Park Ave 1B
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Office
Building Details
Units
1
Listing Agency:
Wexler Health Care Properties Team
(212) 836-1075
Listed By:
Paul Wexler · License #NY 30WE0902877
Source:
Crexi
Added: Feb 6
Changed: Aug 22
Last Checked: Aug 22 at 12:35PM
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 Wexler Health Care Properties Team
Investment Insights
Based on property information with market context.
Located on the Upper East Side at the corner of Park Avenue and East 80th Street, 911 Park Avenue, Suite 1B, is a 1,550-square-foot medical office available for sale. The suite, currently configured as an internal medicine practice, is adaptable to any medical specialty. The layout includes waiting and reception areas, seven exam rooms, two offices/consults, an admin office, two restrooms, and a staff kitchenette. Features include a private street entrance on East 80th Street, overhead/recessed lighting, and hardwood flooring throughout. The building 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. The monthly maintenance fee is $7,520.21, and financing is available up to 50%.
Key Highlights
- Prime Upper East Side location at Park Avenue and East 80th Street.
- Adaptable 1,550 sq ft medical office suite suitable for any medical specialty.
- Private street entrance on East 80th Street.
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
$48,535
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
3.60%
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%
$970,700
$970.7K
Cap Rate 7%
$693,357
$693.4K
Cap Rate 9%
$539,278
$539.3K
Market Conditions
NOI Build-Up for 1,550 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
$79.8K $51.48/SF
− Vacancy
−$15.1K −$9.73/SF
EGI
$64.7K $41.75/SF
− OpEx
−$16.2K −$10.44/SF
NOI
$48.5K $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%
$970,700
Cap Rate 7%
$693,357
Cap Rate 9%
$539,278
Alternative Uses
Best Use
Office B
$693.4K
$606.7K – $808.9K
NOI $48,535 @ 7.0% cap · market cap 3.60%
Second Best
Healthcare Medical
$660.0K
$577.5K – $770.0K
NOI $46,202 @ 7.0% cap · market cap 3.42%
Theoretical Best
Specialty Retail
$3.86M
$3.38M – $4.50M
NOI $270,072 @ 7.0% cap · market cap 20.01%
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office suite for sale on Park Avenue.
Where is this medical office space located?
The property is located at 911 Park Ave 1B New York, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime Upper East Side location at Park Avenue and East 80th Street.; Adaptable 1,550 sq ft medical office suite suitable for any medical specialty.; Private street entrance on East 80th Street.
