Renovated Medical Office
New
For Sale
$379,999
9602 4th Avenue, Brooklyn, NY 11209
COMMERCIAL - Brooklyn, NY
Property Size1,000 SF
Price / SF$379
Days on Market3
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
Amenities
central air conditioning
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
(718) 238-6080
Added: Aug 4
Last Checked: Aug 6 at 2:06PM
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 1,000-square-foot medical office co-op occupies a low-floor position within The Skylark, a professionally managed cooperative building. The renovated suite includes two exam rooms, two dedicated storage rooms, one bathroom, and central air conditioning. Tile flooring and masonry construction add to the property’s durable physical profile.
The building is located at 9602 4th Avenue in Brooklyn’s Bay Ridge area. Pharmacies, laboratories, and hospitals are identified nearby, while the accessible floor placement supports convenient client entry, including for individuals with mobility needs. The property is zoned R6A and is suited to medical, dental, or professional office use as described in the listing information.
The building is located at 9602 4th Avenue in Brooklyn’s Bay Ridge area. Pharmacies, laboratories, and hospitals are identified nearby, while the accessible floor placement supports convenient client entry, including for individuals with mobility needs. The property is zoned R6A and is suited to medical, dental, or professional office use as described in the listing information.
Key Highlights
- 1,000 SF renovated medical office co‑op
- Two exam rooms and two dedicated storage rooms
- Central air conditioning and one 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
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Animal Clinic of Bay Ridge: Ibrahim N DVM — 689 86th St, Brooklyn, NY 11228
- Fifth Avenue Veterinary Hospital — 9102 5th Ave, Brooklyn, NY 11209
- Roy J Appel DVM — 9102 5th Ave, Brooklyn, NY 11209
- Animal Clinic of Bay Ridge — 689 86th St, Brooklyn, NY 11228
- Globe Drug Store — 405 86th St, Brooklyn, NY 11209
Frequently Asked Questions
What type of property is this?
Medical Office Space - Co-op medical office with dedicated treatment, storage, and client-access features.
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 SF renovated medical office co‑op; Two exam rooms and two dedicated storage rooms; Central air conditioning and one bathroom
