Four-Story Building with
For Sale
$7,500,000
774 59th Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size6,800 SF
Lot Size0.05 Acres
Price / SF$1,102
Days on Market51
Property Features for 774 59th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Basement
Full
Subdivision
Sunset Park
Standard status
Active
Size
6,800 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
64261
Building Details
Year built
1923
Number of units
7
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Renzhang Danny Dong · License #RD7348
(929) 291-9897
Added: Jul 16
Changed: Aug 4
Last Checked: Sep 4 at 4:06PM
MLS# 503039
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 four-story commercial building offers a mixed-use configuration with a restaurant on the first floor and two office suites on each of the second, third, and fourth floors, for a total of six office spaces above the commercial unit. The property is presented as an investment opportunity with strong income performance described in the remarks.
Located at 774 59th Street in Brooklyn, NY 11220, the building is positioned just off the 8th Avenue commercial corridor, near the intersection of 8th Avenue and 59th Street. The remarks indicate strong local business presence, heavy foot traffic, and convenient public transportation, along with proximity to shopping, restaurants, and neighborhood amenities.
Zoned R6, the property is offered for sale. Please call for the income and expenses breakdowns.
Located at 774 59th Street in Brooklyn, NY 11220, the building is positioned just off the 8th Avenue commercial corridor, near the intersection of 8th Avenue and 59th Street. The remarks indicate strong local business presence, heavy foot traffic, and convenient public transportation, along with proximity to shopping, restaurants, and neighborhood amenities.
Zoned R6, the property is offered for sale. Please call for the income and expenses breakdowns.
Key Highlights
- Four‑story brick commercial building built in 1923
- Flat roof and tile flooring
- 1st floor restaurant space with commercial unit
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,788
Businesses Nearby
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?
Office units - Restaurant on the first floor with six office suites across the upper three levels in an R6 zoned building.
Where is this office units located?
The property is located at 774 59th Street 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 brick commercial building built in 1923; Flat roof and tile flooring; 1st floor restaurant space with commercial unit
