Dyker Garden Community
For Sale
$1,999,000
1238 63rd St CF107, Brooklyn, NY 11219
4,512 sq ft community space in Dyker Heights for sale.
Property Size4,512 SF
Lot Size1.12 Acres
Price / SF$443.04
Days on Market177
Property Features for 1238 63rd St CF107
General Information
Standard status
Active
Size
4,512 SF
Lot size
1.12 Acres
Property subtype
Commercial
Building Details
Building Size
4,512 SF
Listing Agency:
Ashford Homes LLC
Listed By:
Ray Long Wu
(929) 364-1301
Source:
Elliman
Added: Mar 10
Changed: Aug 31
Last Checked: Aug 25 at 9:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ashford Homes LLC
Investment Insights
Based on property information with market context.
This is a 4,512 sq ft community space located in Dyker Garden. The unit has two entrances and is suitable for various purposes, including senior centers, home care companies, medical offices, training facilities, non-profit organizations, and children’s playgrounds. The mixed-use complex is located in the heart of Dyker Heights and attracts attention and business from its residents and the neighborhood. The building includes 146 residential units. The location provides convenient access to supermarkets, restaurants, and shopping. Public transportation is easily accessible via the N/D subway and B9/B64 bus lines. The property is located within an excellent public school district, with PS176, IS187, and PS227 nearby.
Key Highlights
- Large 4,512 sq ft community space suitable for various uses such as senior centers, medical offices, and training facilities.
- Located within the Dyker Gardens mixed‑use complex with 146 residential units, providing a built‑in customer base.
- Two entrances offer flexible access and layout options.
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
$123,530
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
6.18%
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%
$2,470,600
$2.5M
Cap Rate 7%
$1,764,714
$1.8M
Cap Rate 9%
$1,372,556
$1.4M
Market Conditions
NOI Build-Up for 4,512 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
$211.2K $46.80/SF
− Vacancy
−$46.5K −$10.30/SF
EGI
$164.7K $36.50/SF
− OpEx
−$41.2K −$9.13/SF
NOI
$123.5K $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%
$2,470,600
Cap Rate 7%
$1,764,714
Cap Rate 9%
$1,372,556
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,530 @ 7.0% cap · market cap 6.18%
Second Best
Healthcare Medical
$1.36M
$1.19M – $1.59M
NOI $95,120 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,751 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Medical Office Space - 4,512 sq ft community space in Dyker Heights for sale.
Where is this medical office space located?
The property is located at 1238 63rd St CF107 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Large 4,512 sq ft community space suitable for various uses such as senior centers, medical offices, and training facilities.; Located within the Dyker Gardens mixed‑use complex with 146 residential units, providing a built‑in customer base.; Two entrances offer flexible access and layout options.
