First-Floor Brick
For Sale
$880,000
611 53rd Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size1,208 SF
Lot Size0.05 Acres
Price / SF$728.48
Days on Market111
Property Features for 611 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
R6A
Subdivision
Sunset Park
Standard status
Active
Size
1,208 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2202
Building Details
Year built
2025
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Fei Chan Lin · License #FCL4532
(917) 708-9966
Added: Apr 24
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 500833
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 first-floor storefront property at 611 53rd Street comprises 1,208 square feet within a brick building under construction. The property is designed with a flat roof and has a stated 2025 year built. R6A zoning is in place, providing a defined zoning designation for evaluation by prospective users and investors.
The Brooklyn property is positioned near public transportation, shopping, and major thoroughfares. Its street-level configuration provides a direct commercial presence, while the building’s under-construction status and new-build year offer a current physical profile for review. The property also occupies a 0.0459-acre lot.
The Brooklyn property is positioned near public transportation, shopping, and major thoroughfares. Its street-level configuration provides a direct commercial presence, while the building’s under-construction status and new-build year offer a current physical profile for review. The property also occupies a 0.0459-acre lot.
Key Highlights
- 1,208‑square‑foot first‑floor storefront
- Brick construction with a flat roof
- Under construction with a 2025 year built
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
$31,893
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
3.62%
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%
$637,860
$637.9K
Cap Rate 7%
$455,614
$455.6K
Cap Rate 9%
$354,367
$354.4K
Market Conditions
NOI Build-Up for 1,208 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
$50.7K $42.00/SF
− Vacancy
−$5.2K −$4.28/SF
EGI
$45.6K $37.72/SF
− OpEx
−$13.7K −$11.31/SF
NOI
$31.9K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
30.00%
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%
$637,860
Cap Rate 7%
$455,614
Cap Rate 9%
$354,367
Alternative Uses
Best Use
Retail
$455.6K
$398.7K – $531.6K
NOI $31,893 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.1K
$685.2K – $913.6K
NOI $54,818 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,363
Businesses Nearby
74k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Shops & Services 20%
Dining 14%
Apparel 8%
Key Food
Groceries
17,068 visits/mo
0.5 miles
Bravo Supermarkets
Groceries
15,635 visits/mo
0.5 miles
Chase Bank
Shops & Services
13,539 visits/mo
0.3 miles
Carvel Ice Cream
Dining
5,481 visits/mo
0.3 miles
Bravo Supermarkets
Groceries
5,355 visits/mo
0.4 miles
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Street-level retail space in a new-construction building near public transportation, shopping, and major thoroughfares.
Where is this storefront property located?
The property is located at 611 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: 1,208‑square‑foot first‑floor storefront; Brick construction with a flat roof; Under construction with a 2025 year built
