Senior Housing Community
For Sale
$6,800,000
1238 63rd Street, Brooklyn, NY 11219
Commercial, Brooklyn, NY
Property Size13,615 SF
Lot Size1.52 Acres
Price / SF$499.45
Days on Market106
Property Features for 1238 63rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5B
Subdivision
Dyker Heights
Standard status
Active
Size
13,615 SF
Lot size
1.52 Acres
Building Details
Number of units
1
Listing Agency:
Fang Fang Realty Inc
(718) 676-2518
Listed By:
XueFang (Sue) Li
(718) 676-2518
Added: May 8
Changed: Aug 20
Last Checked: Aug 21 at 6:06AM
MLS# 501283
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.
A brand new senior housing community space is available within the Dyker Gardens mixed-use complex at 1238 63rd Street in Brooklyn (11219). The offering is a large unit totaling 13,615 square feet and may be suitable for senior centers, home care companies, medical offices, training facilities, and certain nonprofit uses, among other community-oriented programs.
The Dyker Gardens features large community spaces within a building that includes 146 residential units. The site is described as having easy access to public transportation, including B9/B64 bus lines, and it is positioned near local supermarkets, restaurants, and shopping. Nearby schools identified include PS176, IS187, and PS227.
Zoned R5B, the property sits on 1.5179 acres, providing a defined parcel context within the Dyker Heights area.
The Dyker Gardens features large community spaces within a building that includes 146 residential units. The site is described as having easy access to public transportation, including B9/B64 bus lines, and it is positioned near local supermarkets, restaurants, and shopping. Nearby schools identified include PS176, IS187, and PS227.
Zoned R5B, the property sits on 1.5179 acres, providing a defined parcel context within the Dyker Heights area.
Key Highlights
- 13,615 square feet community space within Dyker Gardens
- Zoned R5B
- 1.5179‑acre parcel at 1238 63rd Street, Brooklyn, NY 11219
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
$372,751
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
5.48%
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%
$7,455,020
$7.5M
Cap Rate 7%
$5,325,014
$5.3M
Cap Rate 9%
$4,141,678
$4.1M
Market Conditions
NOI Build-Up for 13,615 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
$637.2K $46.80/SF
− Vacancy
−$140.2K −$10.30/SF
EGI
$497.0K $36.50/SF
− OpEx
−$124.3K −$9.13/SF
NOI
$372.8K $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%
$7,455,020
Cap Rate 7%
$5,325,014
Cap Rate 9%
$4,141,678
Alternative Uses
Best Use
Office B
$5.33M
$4.66M – $6.21M
NOI $372,751 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$5.04M
$4.41M – $5.88M
NOI $352,948 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$8.83M
$7.72M – $10.30M
NOI $617,838 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,652
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?
Senior housing / Retirement Home - Community space in a Dyker Heights mixed-use complex, zoned R5B, with access to B9/B64 bus lines.
Where is this senior housing / retirement home located?
The property is located at 1238 63rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: 13,615 square feet community space within Dyker Gardens; Zoned R5B; 1.5179‑acre parcel at 1238 63rd Street, Brooklyn, NY 11219
