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    9920 4Th Ave Brooklyn, NY 11209

    Sponsored
    For Sale
    $15,500,000

    Bay Ridge Brooklyn Office Building, 33 Units

    Property size:
    45,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional three-story, 45,000 square foot office building in Brooklyn's Bay Ridge neighborhood presents a compelling investment opportunity. Currently 85% occupied by 31 tenants, including prominent names like Mass Mutual, Jag One Physical Therapy, Colonial Pharmacy, and PRO Health, this stabilized property boasts a strong NOI of $805,942 and a 5.20% cap rate. The building, constructed in 1977 and renovated in 2007, features 33 units, each with its own dedicated HVAC system. Ample parking is provided with 40 indoor spaces in a heated garage with elevator access, and an additional 13 outdoor spaces. Two newly upgraded elevators and a full-time on-site property manager ensure smooth operations. The building's prime location offers easy access to major transportation arteries, including the Belt Parkway, Verrazano Bridge, Brooklyn-Queens Expressway, the R train, and local and express buses to New York City. The asking price is $15,500,000, representing a price per square foot of $344.44 and a price per unit of $469,696.97. The property sits on an 18,925 square foot lot and is zoned R6A, R4-1, and C1-3. This is a rare opportunity to acquire a well-established, multi-tenant professional building in a thriving Brooklyn community.

    Property Features for 9920 4Th Ave

    General Information

    Property type
    Medical offices
    Square Feet
    45,000 SF

    Building Details

    Year Renovated
    2007
    Buildings
    1
    Stories
    3
    Units
    33

    HighLights

    • Strong tenant mix of professional and retail businesses.
    • Corner lot building with high visibility.
    • Ample parking: 40 indoor spaces and 13 outdoor spaces.
    • Two brand‑new elevators for efficient access.
    • On‑site property manager for streamlined operations.
    • Excellent access to major transportation routes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Vitolo Plastic Surgeon plastic surgeon in brooklyn Plastic Surgeon Bay Ridge Mental ... Hospital NYU Lutheran Associates ... Medical Center Rabin Edward M Attorney

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.033659935574
    Latitude
    40.612848587087

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    FAQs

    What type of property is this?
    Medical office - Bay Ridge Brooklyn Office Building, 33 Units
    Where is this medical office located?
    The property is located at 9920 4Th Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $15,500,000.
    What are key features of this property?
    This property features: Strong tenant mix of professional and retail businesses.; Corner lot building with high visibility.; Ample parking: 40 indoor spaces and 13 outdoor spaces.
    Request Owner's contact information
    9920 4Th Ave Brooklyn, NY 11209
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    Brooklyn, NY 11209
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    9920 4Th Ave Brooklyn, NY 11209
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