Four-Story Mixed-Use Commercial
For Sale
$7,500,000
774 59th St, Brooklyn, NY 11220
First-floor restaurant with six office suites spread across the second through fourth floors in Brooklyn’s 59th St area.
Property Size6,800 SF
Days on Market51
Property Features for 774 59th St
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Commercial
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$64,261
Building Details
Building Size
6,800 SF
Year Built
1923
Stories
4
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Renzhang Danny Dong · License #RD7348
(718) 612-3088
Source:
Elliman
Added: Jul 19
Changed: Aug 23
Last Checked: Sep 6 at 8:30AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Located at 774 59th St in Brooklyn, the property is described as a four-story mixed-use commercial building positioned just off the 8th Avenue commercial corridor. The first floor is configured as a restaurant, while the second, third, and fourth floors each provide two office suites, for a total of six office spaces above the commercial unit.
Public remarks highlight the building’s visibility and strong local activity in the Sunset Park/Chinatown area, along with convenient public transportation. BikeScore of 76 (Very Bikeable), WalkScore of 95 (Walker’s Paradise), and TransitScore of 95 (Rider’s Paradise) are provided in the listing materials.
The property is presented as an investment opportunity with strong income and low maintenance in the seller’s remarks; interested parties are directed to call for the income and expense breakdowns.
Public remarks highlight the building’s visibility and strong local activity in the Sunset Park/Chinatown area, along with convenient public transportation. BikeScore of 76 (Very Bikeable), WalkScore of 95 (Walker’s Paradise), and TransitScore of 95 (Rider’s Paradise) are provided in the listing materials.
The property is presented as an investment opportunity with strong income and low maintenance in the seller’s remarks; interested parties are directed to call for the income and expense breakdowns.
Key Highlights
- Four‑story commercial building built in 1923 in Brooklyn’s 59th St area
- First floor is a restaurant; second through fourth floors each have two office suites (6 office spaces total)
- Six office suites above the commercial unit provide income‑producing commercial configuration
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
$215,118
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
2.87%
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%
$4,302,360
$4.3M
Cap Rate 7%
$3,073,114
$3.1M
Cap Rate 9%
$2,390,200
$2.4M
Market Conditions
NOI Build-Up for 6,800 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
$310.1K $45.60/SF
− Vacancy
−$23.3K −$3.42/SF
EGI
$286.8K $42.18/SF
− OpEx
−$71.7K −$10.55/SF
NOI
$215.1K $31.64/SF
Area
ZIP 11220
Vacancy
7.50%
Lease Rate
$45.60 /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%
$4,302,360
Cap Rate 7%
$3,073,114
Cap Rate 9%
$2,390,200
Alternative Uses
Best Use
Specialty Retail
$3.07M
$2.69M – $3.59M
NOI $215,118 @ 7.0% cap · market cap 2.87%
Second Best
Office B
$2.90M
$2.54M – $3.38M
NOI $203,062 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,579 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
6,788
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor restaurant with six office suites spread across the second through fourth floors in Brooklyn’s 59th St area.
Where is this conventional restaurant located?
The property is located at 774 59th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Four‑story commercial building built in 1923 in Brooklyn’s 59th St area; First floor is a restaurant; second through fourth floors each have two office suites (6 office spaces total); Six office suites above the commercial unit provide income‑producing commercial configuration
