Single-Store Restaurant
New
For Sale
$7,500,000
774 59th St, Brooklyn, NY 11220
A commercial storefront in a highly walkable, transit-served Brooklyn setting.
Property Size6,800 SF
Days on Market6
Property Features for 774 59th St
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$64,261
Building Details
Building Size
6,800 SF
Year Built
1923
Stories
4
Listing Agency:
Tiger Realty
Listed By:
Qi Weng
(917) 708-9966
Source:
Elliman
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 26 at 9:38AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This restaurant-class commercial property comprises one storefront within a building measuring 20’ x 74’, situated on a 20’ x 100’ lot. The structure was built in 1923 and is configured for a single commercial occupant.
The property is located at 774 59th St in Brooklyn, NY 11220. Walk Score is 95, categorized as a Walker’s Paradise, while Transit Score is 89. A Bike Score of 58 indicates a Bikeable setting.
The property is located at 774 59th St in Brooklyn, NY 11220. Walk Score is 95, categorized as a Walker’s Paradise, while Transit Score is 89. A Bike Score of 58 indicates a Bikeable setting.
Key Highlights
- 20’ x 74’ building on a 20’ x 100’ lot
- One commercial storefront
- Built in 1923
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
Retail
$2.56M
$2.24M – $2.99M
NOI $179,528 @ 7.0% cap · market cap 2.39%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,788
Businesses Nearby
62k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 12%
Home Improvements & Furnishings 4%
BP
Shops & Services
19,079 visits/mo
0.4 miles
Chase Bank
Shops & Services
16,183 visits/mo
0.3 miles
Shell
Shops & Services
14,799 visits/mo
0.3 miles
Carvel Ice Cream
Dining
5,481 visits/mo
0.5 miles
W 8 Electric Supply Corp.
Home Improvements & Furnishings
2,500 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- 山城 — 6505 fort hamilton pkwy, brooklyn, ny 11219
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A commercial storefront in a highly walkable, transit-served Brooklyn setting.
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: 20’ x 74’ building on a 20’ x 100’ lot; One commercial storefront; Built in 1923
