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 Market52
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: Sep 2
Last Checked: Sep 6 at 3:56PM
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
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 = 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
$43,784
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
8.34%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Windsor Terrace Veterinarians — 1252 Prospect Ave, Brooklyn, NY 11218
- Alison Animal Hospital — 224 Prospect Park W, Brooklyn, NY 11215
- CCD Veterinarian — 459 7th ave suite #100, brooklyn, ny 11215
- uVet — 385 7th Ave, Brooklyn, NY 11215
- Animal Kind Veterinary Hospital — 365 7th Ave, Brooklyn, NY 11215
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
