Renovated Medical Office
New
For Sale
$379,999
9602 4th Ave L1, Brooklyn, NY 11209
The layout includes dedicated exam and storage rooms alongside central air conditioning.
Property Size1,000 SF
Days on Market4
Property Features for 9602 4th Ave L1
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Additional Details
Office Units
1
Building Details
Building Size
1,000 SF
Year Built
1962
Buildings
1
Stories
7
Tenancy
Single
Listing Agency:
Ben Bay Realty Co
(718) 238-6080
Listed By:
James Nelson · License #NEWYORK10301220112
(718) 238-6080
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 7:01AM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This recently renovated medical office unit at 9602 4th Ave L1 provides a practical setup for medical, dental, or professional office use. The space includes 2 exam rooms, 2 dedicated storage rooms, central air conditioning, and 1 bathroom. Its ground-floor or low-floor positioning supports convenient client access, including for individuals with mobility needs.
The unit is located within The Skylark, a professionally managed 6–7 story cooperative building constructed in 1962. The property sits in Bay Ridge near pharmacies, laboratories, and hospitals, with walk, transit, and bike scores of 85, 73, and 59, respectively. The building offers a residential-commercial setting for an operating practice or other professional office.
The unit is located within The Skylark, a professionally managed 6–7 story cooperative building constructed in 1962. The property sits in Bay Ridge near pharmacies, laboratories, and hospitals, with walk, transit, and bike scores of 85, 73, and 59, respectively. The building offers a residential-commercial setting for an operating practice or other professional office.
Key Highlights
- 2 exam rooms and 2 dedicated storage rooms
- Recently renovated commercial co‑op unit
- 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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - The layout includes dedicated exam and storage rooms alongside central air conditioning.
Where is this medical office space located?
The property is located at 9602 4th Ave L1 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: 2 exam rooms and 2 dedicated storage rooms; Recently renovated commercial co‑op unit; Central air conditioning and 1 bathroom
