Office Condominium
For Sale
$1,150,000
4-867 53rd St, Brooklyn, NY 11232
Fourth-floor office condo unit with elevator access, 1,439 sq. ft., currently vacant and ready for use.
Property Size1,439 SF
Price / SF$799.17
Days on Market204
Property Features for 4-867 53rd St
General Information
Standard status
Active
Size
1,439 SF
Taxes and HOA fees
Annual Taxes
$731
Listing Agency:
Tiger Realty
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Source:
Exprealty
Added: Apr 2
Changed: Oct 3
Last Checked: Oct 21 at 2:47AM
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 Tiger Realty
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Investment Insights
Based on property information with market context.
Located at 4-867 53rd St, Brooklyn, NY, this offering is the fourth of seven commercial condo units available in the building. The unit is on the fourth floor and consists of 1,439 sq. ft. of flexible space, currently vacant and ready to accommodate a variety of potential uses. The building is described as being in excellent condition and includes elevator access.
The property is presented as coming with a 15-year tax abatement. Owner financing is also available at a 6% rate, with the option to close. The building is positioned near major banks and a wide range of shopping options. Buyers may also have the option to purchase all units together.
The property is presented as coming with a 15-year tax abatement. Owner financing is also available at a 6% rate, with the option to close. The building is positioned near major banks and a wide range of shopping options. Buyers may also have the option to purchase all units together.
Key Highlights
- Fourth‑floor commercial condo office unit with elevator access
- 1,439 sq. ft. of versatile space, currently vacant and ready for use
- One of seven commercial condo units available; buyers can purchase all units together
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,900
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$718,000
$718.0K
Cap Rate 7%
$512,857
$512.9K
Cap Rate 9%
$398,889
$398.9K
Market Conditions
NOI Build-Up for 1,439 SF
Gross rent
$62.2K $43.20/SF
− Vacancy
−$14.3K −$9.94/SF
EGI
$47.9K $33.26/SF
− OpEx
−$12.0K −$8.32/SF
NOI
$35.9K $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%
$718,000
Cap Rate 7%
$512,857
Cap Rate 9%
$398,889
Alternative Uses
Best Use
Office B
$512.9K
$448.8K – $598.3K
NOI $35,900 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,404 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Fourth-floor office condo unit with elevator access, 1,439 sq. ft., currently vacant and ready for use.
Where is this office unit located?
The property is located at 4-867 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Fourth‑floor commercial condo office unit with elevator access; 1,439 sq. ft. of versatile space, currently vacant and ready for use; One of seven commercial condo units available; buyers can purchase all units together
