Medical Office with
For Sale
Contact for pricing
531 52nd St, Brooklyn, NY 11220
Condominium medical office space for sale in Sunset Park.
Property Size2,651 SF
Price / SF$735.19
Days on Market1978
Property Features for 531 52nd St
General Information
Standard status
Active
Size
2,651 SF
Property subtype
Office
Listing Agency:
BROOKLYN REAL PROPERTY INC
Listed By:
Jean Paul Ho · License #JPH8888
(718) 713-6888
Source:
Crexi
Added: May 24, 2021
Changed: Oct 3
Last Checked: Oct 20 at 8:42PM
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 BROOKLYN REAL PROPERTY INC
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Investment Insights
Based on property information with market context.
Located in Sunset Park, at 5th Avenue and 50th Street, this condominium medical office is available for sale. The ground floor space measures 2,651 square feet and includes a 1,500 square foot backyard. The property is ADA approved and suitable for various medical uses, including dental practices, laboratories, and physical therapy centers. The location benefits from high traffic and exposure.
Key Highlights
- Prime Sunset Park location (5th Ave/50th Street)
- Large ground floor space: 2,651 sq ft
- 1,500 sq ft backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,164
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,583,280
$1.6M
Cap Rate 7%
$1,130,914
$1.1M
Cap Rate 9%
$879,600
$879.6K
Market Conditions
NOI Build-Up for 2,651 SF
Gross rent
$133.6K $50.40/SF
− Vacancy
−$28.1K −$10.58/SF
EGI
$105.6K $39.82/SF
− OpEx
−$26.4K −$9.95/SF
NOI
$79.2K $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 Rate 5%
$1,583,280
Cap Rate 7%
$1,130,914
Cap Rate 9%
$879,600
Alternative Uses
Best Use
Office B
$1.13M
$989.6K – $1.32M
NOI $79,164 @ 7.0% cap · market cap 4.06%
Second Best
Healthcare Medical
$767.9K
$671.9K – $895.8K
NOI $53,750 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,300 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,917
Businesses Nearby
Under-served
Demand for This Use
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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
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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 - Condominium medical office space for sale in Sunset Park.
Where is this medical office space located?
The property is located at 531 52nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: Prime Sunset Park location (5th Ave/50th Street); Large ground floor space: **2,651 sq ft**; 1,500 sq ft backyard
