Professional Office
New
For Sale
$598,000
60 Plaza Street E, Brooklyn, NY 11238
Commercial, Brooklyn, NY
Property Size1,200 SF
Lot Size0.52 Acres
Price / SF$498.33
Days on Market1
Property Features for 60 Plaza Street E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
RX8
Subdivision
Prospect Heights
Standard status
Active
Size
1,200 SF
Lot size
0.52 Acres
Amenities
concierge
Building Details
Year built
1944
Number of units
1
Building materials
Masonry
Roof type
Flat
Listing Agency:
Jabour Realty Company
Listed By:
Konstantina Zisimopoulou
(718) 748-1800
Added: Sep 17
Last Checked: Sep 17 at 4:06PM
MLS# 504650
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.
This 1,200-square-foot professional office suite is configured with a private entrance, reception and waiting area, four separate offices, a bathroom, dedicated storage, and extensive closet space. High ceilings, oversized windows, and abundant natural light contribute to an open working environment. The suite is delivered vacant and is located in a masonry building constructed in 1944 with a flat roof.
A staffed lobby with concierge service supports visitor arrivals and deliveries. The property is near public transportation and parking, with RX8 zoning. Its existing layout can accommodate medical, legal, wellness, consulting, and other professional practices as identified for the space.
A staffed lobby with concierge service supports visitor arrivals and deliveries. The property is near public transportation and parking, with RX8 zoning. Its existing layout can accommodate medical, legal, wellness, consulting, and other professional practices as identified for the space.
Key Highlights
- 1,200 SF professional office suite
- Private entrance with reception and waiting area
- Four separate offices plus bathroom and dedicated storage
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
$29,938
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
5.01%
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%
$598,760
$598.8K
Cap Rate 7%
$427,686
$427.7K
Cap Rate 9%
$332,644
$332.6K
Market Conditions
NOI Build-Up for 1,200 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
$51.8K $43.20/SF
− Vacancy
−$11.9K −$9.94/SF
EGI
$39.9K $33.26/SF
− OpEx
−$10.0K −$8.32/SF
NOI
$29.9K $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 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%
$598,760
Cap Rate 7%
$427,686
Cap Rate 9%
$332,644
Alternative Uses
Best Use
Office B
$427.7K
$374.2K – $499.0K
NOI $29,938 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$993.6K
$869.4K – $1.16M
NOI $69,552 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
Check the figures for this property
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?
Office units - Private-entry workspace with reception, four offices, storage, and a dedicated bathroom.
Where is this office units located?
The property is located at 60 Plaza Street E Brooklyn, NY.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 1,200 SF professional office suite; Private entrance with reception and waiting area; Four separate offices plus bathroom and dedicated storage
