Vacant Mixed-Use
For Sale
$799,000
Pending
224 E 55th Street, Brooklyn, NY 11203
Commercial Sale, Brooklyn, NY
Property Size2,700 SF
Lot Size0.03 Acres
Days on Market168
Property Features for 224 E 55th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking features
Driveway
Standard status
Pending
APN
04680-0028
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4269
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Amenities
private driveway
Building Details
Year built
1910
Number of units
2
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: Apr 22
Changed: Oct 5
Last Checked: Oct 6 at 12:06AM
MLS# 988745
Copyright © 2026 OneKey MLS. 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 mixed-use building combines a street-level commercial area with a duplex residence occupying the second floor and basement. The commercial component has walk-in access and was formerly used as a beauty parlor, while the residential portion includes multiple bedrooms, a full bathroom, living areas, and basement space suitable for recreation or storage. Utility areas are also located in the lower level. The property will be delivered fully vacant.
A private driveway provides off-street parking and access for the building. Public water and public sewer serve the property, with water available listed among the utilities. Located at 224 E 55th Street in Brooklyn, the property is near shopping corridors, schools, and community amenities, with access to MTA bus routes B46, B47, and B82 and nearby subway service on the 2 and 5 lines. The parcel is zoned R5 and was built in 1910.
A private driveway provides off-street parking and access for the building. Public water and public sewer serve the property, with water available listed among the utilities. Located at 224 E 55th Street in Brooklyn, the property is near shopping corridors, schools, and community amenities, with access to MTA bus routes B46, B47, and B82 and nearby subway service on the 2 and 5 lines. The parcel is zoned R5 and was built in 1910.
Key Highlights
- Mixed‑use configuration with commercial space and a duplex residence
- Property to be delivered fully vacant
- Private driveway for off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,360
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,347,200
$1.3M
Cap Rate 7%
$962,286
$962.3K
Cap Rate 9%
$748,444
$748.4K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$116.6K $43.20/SF
− Vacancy
−$26.8K −$9.94/SF
EGI
$89.8K $33.26/SF
− OpEx
−$22.5K −$8.32/SF
NOI
$67.4K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,347,200
Cap Rate 7%
$962,286
Cap Rate 9%
$748,444
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,477 @ 7.0% cap · market cap 16.20%
Second Best
Mixed Use
$1.40M
$1.23M – $1.63M
NOI $98,010 @ 7.0% cap · market cap 12.27%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 19.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space is paired with a duplex residence and private driveway.
Where is this mixed-use property located?
The property is located at 224 E 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Mixed‑use configuration with commercial space and a duplex residence; Property to be delivered fully vacant; Private driveway for off‑street parking
