Medical Center with Finished
For Sale
Under Contract
$659,000
9518 Ave L, Brooklyn, NY 11236
Commercial Sale, Brooklyn, NY
Property Size1,265 SF
Lot Size0.04 Acres
Price / SF$520.95
Days on Market424
Property Features for 9518 Ave L
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Canarsie
Standard status
Active Under Contract
Lot size
0.04 Acres
Amenities
private enclosed backyard
Listing Agency:
BROOKLYN REAL PROPERTY INC
(718) 875-8899
Listed By:
Jean Paul Ho
(718) 875-8899
Added: Jun 24, 2025
Changed: Aug 19
Last Checked: Aug 21 at 8:06PM
MLS# 11523420
Copyright © 2026 My State MLS. 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 brick commercial building is configured for medical operations, with a waiting room, reception area, three observation rooms, an X-ray room, operating room, treatment room, and office. The property also includes a private enclosed backyard and a fully finished basement with high ceilings. A new 4-ton roof-mounted AC/heat system provides central air, and a hot water heater is in place.
The building contains 1,265 square feet above grade and measures 17.75 by 55 feet on a 17.75 by 100-foot lot. Zoning is R5D and C2-3, with 2,290 unused FAR available for additional development. Its position along the Canarsie Avenue L retail corridor places the property near shopping, restaurants, and bus service. Existing medical improvements may support continued healthcare use or adaptation to other commercial formats identified in the listing.
The building contains 1,265 square feet above grade and measures 17.75 by 55 feet on a 17.75 by 100-foot lot. Zoning is R5D and C2-3, with 2,290 unused FAR available for additional development. Its position along the Canarsie Avenue L retail corridor places the property near shopping, restaurants, and bus service. Existing medical improvements may support continued healthcare use or adaptation to other commercial formats identified in the listing.
Key Highlights
- 1,265 SF building on a 17.75 x 100 lot
- R5D and C2‑3 zoning with 2,290 unused FAR
- Medical layout includes 3 observation rooms, X‑ray room, operating room, and treatment room
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
$29,328
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
4.45%
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%
$586,560
$586.6K
Cap Rate 7%
$418,971
$419.0K
Cap Rate 9%
$325,867
$325.9K
Market Conditions
NOI Build-Up for 1,265 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
$53.1K $42.00/SF
− Vacancy
−$4.3K −$3.36/SF
EGI
$48.9K $38.64/SF
− OpEx
−$19.6K −$15.46/SF
NOI
$29.3K $23.18/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
40.00%
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%
$586,560
Cap Rate 7%
$418,971
Cap Rate 9%
$325,867
Alternative Uses
Best Use
Retail
$866.6K
$758.3K – $1.01M
NOI $60,663 @ 7.0% cap · market cap 9.21%
Second Best
Healthcare Medical
$419.0K
$366.6K – $488.8K
NOI $29,328 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$1.05M
$916.5K – $1.22M
NOI $73,319 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,779
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Dining 36%
Groceries 20%
Apparel 4%
McDonald's
Dining
19,364 visits/mo
0.4 miles
Key Food Supermarkets
Groceries
15,126 visits/mo
0.5 miles
Shell
Shops & Services
11,562 visits/mo
0.4 miles
Mobil
Shops & Services
10,804 visits/mo
0.4 miles
Burger King
Dining
7,555 visits/mo
0.0 miles
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Brick commercial property with medical rooms, central HVAC, and flexible zoning for multiple commercial uses.
Where is this medical center located?
The property is located at 9518 Ave L Brooklyn, NY.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: 1,265 SF building on a 17.75 x 100 lot; R5D and C2‑3 zoning with 2,290 unused FAR; Medical layout includes 3 observation rooms, X‑ray room, operating room, and treatment room
