Sixth-Floor School
For Sale
$1,068,000
867 53rd Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size1,335 SF
Lot Size0.07 Acres
Price / SF$800
Days on Market147
Property Features for 867 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
1,335 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
678
Building Details
Year built
2023
Number of units
1
Roof type
Tile
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Added: Apr 2
Changed: Aug 4
Last Checked: Aug 26 at 6:06AM
MLS# 500181
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 sixth-floor commercial condominium contains 1,335 square feet within a 2023 elevator building. The unit is occupied by a tenant operating a cram school for children, providing an established educational use within the property. The building is described as being in excellent condition and has a tile roof.
Located at 867 53rd Street in Brooklyn’s Sunset Park, the property carries R6 zoning. It is identified as the sixth of seven commercial condominium units available in the development. A 15-year tax abatement is associated with the unit, and the property is part of an elevator-served building.
Located at 867 53rd Street in Brooklyn’s Sunset Park, the property carries R6 zoning. It is identified as the sixth of seven commercial condominium units available in the development. A 15-year tax abatement is associated with the unit, and the property is part of an elevator-served building.
Key Highlights
- 1,335‑square‑foot sixth‑floor commercial condominium
- Occupied by a tenant operating a cram school for children
- 2023 elevator building with tile roof
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
$39,866
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
3.73%
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%
$797,320
$797.3K
Cap Rate 7%
$569,514
$569.5K
Cap Rate 9%
$442,956
$443.0K
Market Conditions
NOI Build-Up for 1,335 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
$67.3K $50.40/SF
− Vacancy
−$14.1K −$10.58/SF
EGI
$53.2K $39.82/SF
− OpEx
−$13.3K −$9.95/SF
NOI
$39.9K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$797,320
Cap Rate 7%
$569,514
Cap Rate 9%
$442,956
Alternative Uses
Best Use
Office B
$569.5K
$498.3K – $664.4K
NOI $39,866 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$865.4K
$757.3K – $1.01M
NOI $60,581 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,955
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
School - Occupied educational space in a 2023 elevator building with R6 zoning and a 15-year tax abatement.
Where is this school located?
The property is located at 867 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: 1,335‑square‑foot sixth‑floor commercial condominium; Occupied by a tenant operating a cram school for children; 2023 elevator building with tile roof
