Seventh-Floor Office
For Sale
$750,000
7-867 53rd St, Brooklyn, NY 11203
Vacant commercial condominium with elevator access and flexible space for office users.
Property Size906 SF
Price / SF$827.81
Days on Market209
Property Features for 7-867 53rd St
General Information
Standard status
Active
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: Oct 25
Last Checked: Oct 26 at 5:21PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$22,603
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Office unit - Vacant commercial condominium with elevator access and flexible space for office users.
Where is this office unit 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
