Seventh-Floor Office
For Sale
$750,000
Pending
7-867 53rd St, Brooklyn, NY 11203
Vacant commercial condominium with elevator access and flexible space for office users.
Property Size906 SF
Days on Market159
Property Features for 7-867 53rd St
General Information
Standard status
Pending
Size
906 SF
Elevators
Yes
Additional Details
Floor
7
Taxes and HOA fees
Annual Taxes
$535
Listing Agency:
momentum real estate llc
(888) 407-0887
Listed By:
Yan Mei (Jamie) Zheng
(718) 382-0001
Source:
Exprealty
Added: Apr 2
Changed: Sep 4
Last Checked: Sep 7 at 10:39AM
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 momentum real estate llc
Investment Insights
Based on property information with market context.
This vacant office condominium contains 906 square feet on the building’s seventh floor. The unit offers adaptable commercial space within a well-maintained building and is served by elevator access, allowing for a range of office configurations and occupancy needs.
The property is located near major banks and shopping options in Brooklyn’s Sunset Park. A 15-year tax abatement is associated with the unit. Additional office condominium units may also be acquired together, as stated in the property information.
The property is located near major banks and shopping options in Brooklyn’s Sunset Park. A 15-year tax abatement is associated with the unit. Additional office condominium units may also be acquired together, as stated in the property information.
Key Highlights
- 906‑square‑foot seventh‑floor office condominium
- Vacant unit ready for office occupancy
- Elevator access in a well‑maintained building
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
$22,603
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
3.01%
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%
$452,060
$452.1K
Cap Rate 7%
$322,900
$322.9K
Cap Rate 9%
$251,144
$251.1K
Market Conditions
NOI Build-Up for 906 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
$39.1K $43.20/SF
− Vacancy
−$9.0K −$9.94/SF
EGI
$30.1K $33.26/SF
− OpEx
−$7.5K −$8.32/SF
NOI
$22.6K $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%
$452,060
Cap Rate 7%
$322,900
Cap Rate 9%
$251,144
Alternative Uses
Best Use
Office B
$322.9K
$282.5K – $376.7K
NOI $22,603 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$750.2K
$656.4K – $875.2K
NOI $52,512 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,091
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Vacant commercial condominium with elevator access and flexible space for office users.
Where is this office units located?
The property is located at 7-867 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 906‑square‑foot seventh‑floor office condominium; Vacant unit ready for office occupancy; Elevator access in a well‑maintained building
