New Sunset Park Medical
For Sale
Contact for pricing
849 53rd Street CF-1, Brooklyn, NY 11220
New medical or professional office space in Sunset Park.
Property Size2,819 SF
Price / SF$780.42
Days on Market710
Property Features for 849 53rd Street CF-1
General Information
Standard status
Active
Size
2,819 SF
Property subtype
Office, Special Purpose
Building Details
Stories
7
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
Source:
Crexi
Added: Sep 13, 2024
Changed: Aug 22
Last Checked: Aug 22 at 9:30AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
This newly constructed building, completed in 2023, is situated in the heart of the Sunset Park neighborhood. The property, located on the basement level, offers 2,819 square feet of space. While currently planned for health care use, the space is suitable for various purposes, including adult care, medical offices, nursing homes, and professional offices. The property includes double bathrooms. Common charges are approximately $978.38, covering water. The property benefits from a 25-year tax abatement, with annual property taxes estimated at $2,178.
Key Highlights
- Brand new construction (2023) in a prime Sunset Park location.
- Versatile space suitable for healthcare, adult care, medical office, or professional office.
- Significant tax abatement (25 years) resulting in low annual property taxes (approx. $2,178).
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
$84,181
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
3.83%
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%
$1,683,620
$1.7M
Cap Rate 7%
$1,202,586
$1.2M
Cap Rate 9%
$935,344
$935.3K
Market Conditions
NOI Build-Up for 2,819 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
$142.1K $50.40/SF
− Vacancy
−$29.8K −$10.58/SF
EGI
$112.2K $39.82/SF
− OpEx
−$28.1K −$9.95/SF
NOI
$84.2K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$1,683,620
Cap Rate 7%
$1,202,586
Cap Rate 9%
$935,344
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,181 @ 7.0% cap · market cap 3.83%
Second Best
Healthcare Medical
$816.5K
$714.5K – $952.6K
NOI $57,156 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,924 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,809
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - New medical or professional office space in Sunset Park.
Where is this medical office space located?
The property is located at 849 53rd Street CF-1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Brand new construction (2023) in a prime Sunset Park location.; Versatile space suitable for healthcare, adult care, medical office, or professional office.; Significant tax abatement (25 years) resulting in low annual property taxes (approx. $2,178).
