Renovated Medical Office
For Sale
$379,999
9602 4th Avenue, Brooklyn, NY 11209
Commercial, Brooklyn, NY
Property Size1,000 SF
Price / SF$379
Days on Market49
Property Features for 9602 4th Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6A
Subdivision
Bay Ridge
Standard status
Active
Size
1,000 SF
Building Details
Number of units
1
Flooring type
Tile
Building materials
Masonry
Roof type
Flat
Listing Agency:
Ben Bay Realty Co of Bay Ridge
(718) 238-6080
Listed By:
James Nelson · License #NEWYORK10301220112
(646) 879-2988
Added: Aug 4
Changed: Sep 5
Last Checked: Sep 21 at 11:06PM
MLS# 503517
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 recently renovated medical office co-op provides 1,000 square feet configured with 2 exam rooms, 2 dedicated storage rooms, central air conditioning, and 1 bathroom. Masonry construction, tile flooring, and a flat roof are among the property’s documented building features. The layout is suited to medical, dental, or professional office use.
The unit is part of The Skylark, a professionally managed cooperative building in Brooklyn’s Bay Ridge area. Constructed in 1962, the six- to seven-story property combines residential and commercial occupancy. Pharmacies, laboratories, and hospitals are located nearby, with abundant parking options in the surrounding area. The property is zoned R6A, and the seller may consider a lease with an option to buy.
The unit is part of The Skylark, a professionally managed cooperative building in Brooklyn’s Bay Ridge area. Constructed in 1962, the six- to seven-story property combines residential and commercial occupancy. Pharmacies, laboratories, and hospitals are located nearby, with abundant parking options in the surrounding area. The property is zoned R6A, and the seller may consider a lease with an option to buy.
Key Highlights
- 1,000‑square‑foot medical office co‑op unit
- 2 exam rooms and 2 dedicated storage rooms
- Central air conditioning and 1 bathroom
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
$24,948
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
6.57%
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%
$498,960
$499.0K
Cap Rate 7%
$356,400
$356.4K
Cap Rate 9%
$277,200
$277.2K
Market Conditions
NOI Build-Up for 1,000 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
$43.2K $43.20/SF
− Vacancy
−$9.9K −$9.94/SF
EGI
$33.3K $33.26/SF
− OpEx
−$8.3K −$8.32/SF
NOI
$24.9K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /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%
$498,960
Cap Rate 7%
$356,400
Cap Rate 9%
$277,200
Alternative Uses
Best Use
Office B
$356.4K
$311.9K – $415.8K
NOI $24,948 @ 7.0% cap · market cap 6.57%
Second Best
Healthcare Medical
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$828.0K
$724.5K – $966.0K
NOI $57,960 @ 7.0% cap · market cap 15.25%
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
3,406
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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- Globe Drug Store — 405 86th St, Brooklyn, NY 11209
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office with exam rooms, dedicated storage, central air conditioning, and one bathroom.
Where is this medical office space located?
The property is located at 9602 4th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: 1,000‑square‑foot medical office co‑op unit; 2 exam rooms and 2 dedicated storage rooms; Central air conditioning and 1 bathroom
