Brick Flex Space with
For Sale
$3,800,000
1229 60th Street, Brooklyn, NY 11219
COMMERCIAL - Brooklyn, NY
Property Size5,300 SF
Lot Size0.09 Acres
Price / SF$716.98
Days on Market131
Property Features for 1229 60th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-1
Subdivision
Boro-Park
Standard status
Active
Size
5,300 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
19878
Building Details
Year built
1931
Floors in Building
2
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Mar 29
Changed: Aug 4
Last Checked: Aug 6 at 5:06PM
MLS# 500058
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.
Located at 1229 60th Street in Brooklyn, this 5,300-square-foot flex property combines warehouse and office components within a brick building constructed in 1931. The warehouse occupies 4,000 square feet and features an open configuration with ceiling heights ranging from 15 to 18 feet. A second-floor office area adds 1,300 square feet for administrative functions and meeting rooms.
The property sits on a 0.092-acre lot and carries M1-1 zoning. A flat roof completes the building’s existing improvements, while the separation between warehouse and office areas provides a practical arrangement for industrial operations requiring associated workspace.
The property sits on a 0.092-acre lot and carries M1-1 zoning. A flat roof completes the building’s existing improvements, while the separation between warehouse and office areas provides a practical arrangement for industrial operations requiring associated workspace.
Key Highlights
- 5,300‑square‑foot flex property with warehouse and office areas
- 4,000‑square‑foot open warehouse area
- 1,300 square feet of second‑floor office space
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
$145,103
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
3.82%
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%
$2,902,060
$2.9M
Cap Rate 7%
$2,072,900
$2.1M
Cap Rate 9%
$1,612,256
$1.6M
Market Conditions
NOI Build-Up for 5,300 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
$248.0K $46.80/SF
− Vacancy
−$54.6K −$10.30/SF
EGI
$193.5K $36.50/SF
− OpEx
−$48.4K −$9.13/SF
NOI
$145.1K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /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%
$2,902,060
Cap Rate 7%
$2,072,900
Cap Rate 9%
$1,612,256
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.42M
NOI $145,103 @ 7.0% cap · market cap 3.82%
Second Best
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,173 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,510 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
6,179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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?
Flex space - M1-1-zoned property combines an open warehouse layout with elevated ceilings and dedicated administrative space.
Where is this flex space located?
The property is located at 1229 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 5,300‑square‑foot flex property with warehouse and office areas; 4,000‑square‑foot open warehouse area; 1,300 square feet of second‑floor office space
