Renovated Office Condo with
For Sale
$1,550,000
2345 60th Street, Brooklyn, NY 11204
Commercial, Brooklyn, NY
Property Size3,700 SF
Lot Size0.09 Acres
Price / SF$418.92
Days on Market43
Property Features for 2345 60th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6 & C2-3
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
3,700 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4138
Building Details
Year built
2021
Number of units
1
Flooring type
Ceramic, Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
Metro Realty Professionals
Listed By:
Rui (Nancy) L Wu · License #10491203971
(718) 838-2600
Added: Jul 24
Changed: Aug 24
Last Checked: Sep 4 at 5:06PM
MLS# 503295
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 office condominium comprises 3,700 square feet with a purpose-built interior that was renovated four years ago. The layout includes a reception area, central workspace, private employee offices, an executive office with an adjoining restroom, two additional employee restrooms, a conference room, and a break room with an island. A 1,500-square-foot balcony adds substantial outdoor space.
An elevator provides access to a separate 1,100-square-foot basement unit identified as C1. That space contains an open area and a half restroom and is currently vacant. The property is located at 2345 60th Street in Brooklyn, NY, and carries R6 & C2-3 zoning. Brick construction, carpet and ceramic flooring, a flat roof, and a 2021 construction date are also noted.
An elevator provides access to a separate 1,100-square-foot basement unit identified as C1. That space contains an open area and a half restroom and is currently vacant. The property is located at 2345 60th Street in Brooklyn, NY, and carries R6 & C2-3 zoning. Brick construction, carpet and ceramic flooring, a flat roof, and a 2021 construction date are also noted.
Key Highlights
- 3,700‑square‑foot office condominium with executive and employee work areas
- Renovated four years ago with a purpose‑built interior layout
- 1,500‑square‑foot balcony
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
$92,308
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
5.96%
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%
$1,846,160
$1.8M
Cap Rate 7%
$1,318,686
$1.3M
Cap Rate 9%
$1,025,644
$1.0M
Market Conditions
NOI Build-Up for 3,700 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
$159.8K $43.20/SF
− Vacancy
−$36.8K −$9.94/SF
EGI
$123.1K $33.26/SF
− OpEx
−$30.8K −$8.32/SF
NOI
$92.3K $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%
$1,846,160
Cap Rate 7%
$1,318,686
Cap Rate 9%
$1,025,644
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,308 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.06M
$2.68M – $3.57M
NOI $214,452 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured for executive, administrative, and collaborative office functions with dedicated work areas, private offices, conference space, and restrooms.
Where is this office units located?
The property is located at 2345 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 3,700‑square‑foot office condominium with executive and employee work areas; Renovated four years ago with a purpose‑built interior layout; 1,500‑square‑foot balcony
