Leased Commercial
For Sale
$2,264,000
720 57th Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size2,830 SF
Lot Size0.14 Acres
Price / SF$800
Days on Market140
Property Features for 720 57th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
r6
Subdivision
Sunset Park
Standard status
Active
Size
2,830 SF
Lot size
0.14 Acres
Building Details
Flooring type
Ceramic
Roof type
Flat
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Shumin (Mandy) Tan
(929) 364-1301
Added: Mar 30
Changed: Aug 4
Last Checked: Aug 16 at 6:06PM
MLS# 500087
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 commercial condominium comprises 2,830 square feet and is currently leased to an adult recreational center. Interior ceramic flooring provides a durable finish for the existing commercial use, while the building features a flat roof.
The property is located at 720 57th Street in Brooklyn, within Kings County. The parcel measures 0.1377 acres and carries R6 zoning.
The property is located at 720 57th Street in Brooklyn, within Kings County. The parcel measures 0.1377 acres and carries R6 zoning.
Key Highlights
- 2,830‑square‑foot commercial condominium
- Currently leased to an adult recreational center
- Ceramic flooring throughout the commercial space
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
$74,715
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
3.30%
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%
$1,494,300
$1.5M
Cap Rate 7%
$1,067,357
$1.1M
Cap Rate 9%
$830,167
$830.2K
Market Conditions
NOI Build-Up for 2,830 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
$118.9K $42.00/SF
− Vacancy
−$12.1K −$4.28/SF
EGI
$106.7K $37.72/SF
− OpEx
−$32.0K −$11.31/SF
NOI
$74.7K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,494,300
Cap Rate 7%
$1,067,357
Cap Rate 9%
$830,167
Alternative Uses
Best Use
Retail
$1.07M
$933.9K – $1.25M
NOI $74,715 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.61M – $2.14M
NOI $128,423 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,012
Businesses Nearby
50k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 17%
Electronics 8%
Home Improvements & Furnishings 5%
Chase Bank
Shops & Services
16,183 visits/mo
0.5 miles
Shell
Shops & Services
14,799 visits/mo
0.4 miles
Carvel Ice Cream
Dining
5,481 visits/mo
0.4 miles
W 8 Electric Supply Corp.
Home Improvements & Furnishings
2,500 visits/mo
0.2 miles
Boost Mobile
Electronics
2,500 visits/mo
0.4 miles
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial condominium with an existing adult recreational center tenancy and durable ceramic flooring.
Where is this storefront property located?
The property is located at 720 57th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,264,000.
What are key features of this property?
This property features: 2,830‑square‑foot commercial condominium; Currently leased to an adult recreational center; Ceramic flooring throughout the commercial space
