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    OFF-MARKET
    Office Spaces

    40 Park Ave, New York, NY 10016

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    Property summary
    AI-generated overview

    40 Park Avenue offers exceptional medical office space for lease in the prestigious Murray Hill submarket. Three suites are available, ranging from 542 to 1,636 square feet, all located within a luxury residential building at the corner of Park Avenue and East 36th Street. Each suite boasts a distinct layout designed to accommodate various medical specialties. Suite 2 (approx. 997 sq ft) includes a waiting room, reception area, procedure room, four exam rooms, and two restrooms with Park Avenue and East 36th Street views. Suite 3 (approx. 542 sq ft) offers a waiting/reception area, lab, two exam rooms, an office/consult room, and a restroom, also with East 36th Street views. Suite 1 (approx. 1,636 sq ft) features a waiting room, reception area, six exam rooms, two offices/consult rooms, a nurses' station, staff pantry/kitchenette, and two restrooms, all with Park Avenue views. Suites 2 and 3 share a separate street entrance, while Suite 1 has its own private entrance. The suites are adaptable and may be combined to meet specific needs. The building enjoys convenient access to public transportation, including the 4, 5, 6, 7, and S subway lines, as well as Upper East Side bus routes. This presents a rare opportunity to establish or expand a medical practice in a highly desirable location.

    Property profile
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    Property type Office Spaces
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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