Office Unit with Tax
New
For Sale
$1,500,000
821 53rd Street, Brooklyn, NY 11220
Commercial, Brooklyn, NY
Property Size2,374 SF
Lot Size0.07 Acres
Price / SF$631.84
Days on Market2
Property Features for 821 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6
Basement
Full
Subdivision
Sunset Park
Standard status
Active
Size
2,374 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2521
Building Details
Number of units
1
Building materials
Brick
Roof type
Asphalt
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Weixing (Winston) Lao
(718) 680-2776
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 17 at 6:06PM
MLS# 504630
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 2,374-square-foot office unit is part of a brick commercial building with an asphalt roof. The property carries R6 zoning and includes a 7-year tax abatement. Uses identified for the space include medical offices, home care companies, youth and senior centers, training facilities, nonprofit organizations, and children’s playgrounds.
The property is located at 821 53rd Street in Brooklyn’s 11220 ZIP code. Access to public transportation includes the N train station and the B70 bus stop, both described as minutes away. Restaurants, supermarkets, and pharmacies are also nearby, providing surrounding neighborhood services for occupants and visitors.
The property is located at 821 53rd Street in Brooklyn’s 11220 ZIP code. Access to public transportation includes the N train station and the B70 bus stop, both described as minutes away. Restaurants, supermarkets, and pharmacies are also nearby, providing surrounding neighborhood services for occupants and visitors.
Key Highlights
- 2,374 SF office unit
- 7‑year tax abatement
- R6 zoning
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
$70,892
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
4.73%
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%
$1,417,840
$1.4M
Cap Rate 7%
$1,012,743
$1.0M
Cap Rate 9%
$787,689
$787.7K
Market Conditions
NOI Build-Up for 2,374 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
$119.6K $50.40/SF
− Vacancy
−$25.1K −$10.58/SF
EGI
$94.5K $39.82/SF
− OpEx
−$23.6K −$9.95/SF
NOI
$70.9K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$1,417,840
Cap Rate 7%
$1,012,743
Cap Rate 9%
$787,689
Alternative Uses
Best Use
Office B
$1.01M
$886.2K – $1.18M
NOI $70,892 @ 7.0% cap · market cap 4.73%
Second Best
Healthcare Medical
$687.6K
$601.7K – $802.2K
NOI $48,133 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,730 @ 7.0% cap · market cap 7.18%
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
7,625
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - R6-zoned office space near public transportation and neighborhood services.
Where is this office units located?
The property is located at 821 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,374 SF office unit; 7‑year tax abatement; R6 zoning
