Dyker Garden Community Space
For Sale
$6,800,000
1238 63rd St C103, Brooklyn, NY 11219
13,615 sq ft mixed-use space in Dyker Heights, Brooklyn.
Property Size13,615 SF
Price / SF$499.45
Days on Market87
Property Features for 1238 63rd St C103
General Information
Standard status
Active
Size
13,615 SF
Property subtype
Commercial
Listing Agency:
Fang Fang Realty Inc
(718) 676-2518
Listed By:
XueFang (Sue) Li
(718) 676-2518
Source:
Elliman
Added: May 12
Changed: Jul 10
Last Checked: Aug 6 at 6:49AM
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 Fang Fang Realty Inc
Investment Insights
Based on property information with market context.
This 13,615 sq ft unit is located in Dyker Garden, a mixed-use complex in the heart of Dyker Heights with 146 residential units. The property is suitable for senior centers, home care companies, medical offices, training facilities, non-profit organizations, and children’s playgrounds. The location offers convenient access to supermarkets, restaurants, and shopping. Public transportation is readily accessible via the N/D subway lines and the B9/B64 bus lines. The property is situated within an excellent public school district, with PS176, IS187, and PS227 nearby. The location has a walk score of 96, indicating it is a Walker's Paradise, a transit score of 84, indicating excellent transit, and a bike score of 56, indicating it is bikeable.
Key Highlights
- Large 13,615 sq ft unit suitable for various uses.
- Located in the heart of Dyker Heights within a mixed‑use complex.
- Excellent transit score (84) with easy access to N/D subway and B9/B64 bus lines.
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
Mixed Use
$4.54M
$3.98M – $5.30M
NOI $318,080 @ 7.0% cap · market cap 4.68%
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
Location Intelligence
Trade Area within ½ mile
4,652
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 13,615 sq ft mixed-use space in Dyker Heights, Brooklyn.
Where is this mixed-use property located?
The property is located at 1238 63rd St C103 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: Large 13,615 sq ft unit suitable for various uses.; Located in the heart of Dyker Heights within a mixed‑use complex.; Excellent transit score (84) with easy access to N/D subway and B9/B64 bus lines.
