Medical Office Space with Private
For Sale
$1,250,000
943 60th Street, Brooklyn, NY 11219
Commercial, Brooklyn, NY
Property Size1,471 SF
Lot Size0.07 Acres
Price / SF$849.76
Days on Market136
Property Features for 943 60th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Boro-Park
Standard status
Active
Size
1,471 SF
Lot size
0.07 Acres
Amenities
private terrace
Building Details
Year built
2015
Floors in Building
6
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
Listed By:
Miao Ling Huang
(718) 667-8000
Added: May 19
Changed: Sep 5
Last Checked: Oct 1 at 6:06PM
MLS# 501579
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office condominium contains approximately 1,471 square feet of interior space and a private 830-square-foot terrace. The unit is located in an elevator building, is currently configured as a community facility space, and is non-owner occupied. Brick construction and a flat roof complement the 2015-built property.
Potential uses identified for the space include a professional office, medical or wellness clinic, daycare or educational facility, and community facility or nonprofit operation, subject to approval. The property is located at 943 60th Street, Brooklyn, NY 11219, and carries R6 zoning. A 25-year tax abatement has approximately 18 years remaining.
Potential uses identified for the space include a professional office, medical or wellness clinic, daycare or educational facility, and community facility or nonprofit operation, subject to approval. The property is located at 943 60th Street, Brooklyn, NY 11219, and carries R6 zoning. A 25-year tax abatement has approximately 18 years remaining.
Key Highlights
- Approximately 1,471 square feet of interior condominium space
- Private 830‑square‑foot terrace
- Elevator building with a unit configured as a community facility space
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
$40,273
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
3.22%
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%
$805,460
$805.5K
Cap Rate 7%
$575,329
$575.3K
Cap Rate 9%
$447,478
$447.5K
Market Conditions
NOI Build-Up for 1,471 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
$68.8K $46.80/SF
− Vacancy
−$15.1K −$10.30/SF
EGI
$53.7K $36.50/SF
− OpEx
−$13.4K −$9.13/SF
NOI
$40.3K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /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%
$805,460
Cap Rate 7%
$575,329
Cap Rate 9%
$447,478
Alternative Uses
Best Use
Office B
$575.3K
$503.4K – $671.2K
NOI $40,273 @ 7.0% cap · market cap 3.22%
Second Best
Healthcare Medical
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$953.6K
$834.4K – $1.11M
NOI $66,753 @ 7.0% cap · market cap 5.34%
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
7,482
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Elevator-served condominium unit with outdoor space and flexible professional or community-oriented use potential, subject to approval.
Where is this medical office space located?
The property is located at 943 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 1,471 square feet of interior condominium space; Private 830‑square‑foot terrace; Elevator building with a unit configured as a community facility space
