Ground-Level Medical Office
For Sale
$525,000
M1-5024 10th Ave, Brooklyn, NY 11215
Two private entrances provide flexible access for staff and patients.
Property Size1,755 SF
Price / SF$299.15
Days on Market97
Property Features for M1-5024 10th Ave
General Information
Standard status
Active
Size
1,755 SF
Elevators
Yes
Additional Details
Floor
Ground Floor
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,390
Listing Agency:
Coldwell Banker Reliable R E
(718) 921-3100
Listed By:
Joseph T. Hamdan
(917) 365-0215
Source:
Exprealty
Added: Jul 18
Changed: Oct 4
Last Checked: Oct 21 at 2:30AM
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 Coldwell Banker Reliable R E
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,755 sq ft medical office condominium occupies a ground-level position in an elevator building and includes two private entrances. The layout offers an established setting for medical office operations while providing separate access points for staff and patients.
The property is located at M1-5024 10th Ave in Brooklyn’s Borough Park, two blocks from Maimonides Medical Center. Public transportation access includes the D train at Fort Hamilton Parkway and 50th Street stations, along with the B35 bus line. The surrounding area includes restaurants, shops, and community services along 13th Avenue and other neighborhood streets.
Community facility zoning supports medical use as well as social service agencies, child care centers, and other community-based uses.
The property is located at M1-5024 10th Ave in Brooklyn’s Borough Park, two blocks from Maimonides Medical Center. Public transportation access includes the D train at Fort Hamilton Parkway and 50th Street stations, along with the B35 bus line. The surrounding area includes restaurants, shops, and community services along 13th Avenue and other neighborhood streets.
Community facility zoning supports medical use as well as social service agencies, child care centers, and other community-based uses.
Key Highlights
- 1,755 sq ft medical office condominium
- Ground‑level unit in an elevator building
- Two private entrances for flexible staff and patient access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,784
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$875,680
$875.7K
Cap Rate 7%
$625,486
$625.5K
Cap Rate 9%
$486,489
$486.5K
Market Conditions
NOI Build-Up for 1,755 SF
Gross rent
$75.8K $43.20/SF
− Vacancy
−$17.4K −$9.94/SF
EGI
$58.4K $33.26/SF
− OpEx
−$14.6K −$8.32/SF
NOI
$43.8K $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 Rate 5%
$875,680
Cap Rate 7%
$625,486
Cap Rate 9%
$486,489
Alternative Uses
Best Use
Office B
$625.5K
$547.3K – $729.7K
NOI $43,784 @ 7.0% cap · market cap 8.34%
Second Best
Healthcare Medical
$581.3K
$508.6K – $678.1K
NOI $40,688 @ 7.0% cap · market cap 7.75%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.70M
NOI $101,720 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,106
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two private entrances provide flexible access for staff and patients.
Where is this medical office space located?
The property is located at M1-5024 10th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,755 sq ft medical office condominium; Ground‑level unit in an elevator building; Two private entrances for flexible staff and patient access
