Renovated Office
For Sale
$1,150,000
824 56th Street, Brooklyn, NY 11220
Commercial, Brooklyn, NY
Property Size1,100 SF
Lot Size0.05 Acres
Price / SF$1,045
Days on Market578
Property Features for 824 56th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Basement
Finished
Subdivision
Sunset Park
Standard status
Active
Size
1,100 SF
Lot size
0.05 Acres
Building Details
Building materials
Block, Brick
Roof type
Flat
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Xiaodan (Ivy) Xu
(718) 680-2776
Added: Mar 10, 2025
Changed: Sep 5
Last Checked: Oct 8 at 4:06AM
MLS# 489853
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 newly renovated office building contains 1,100 square feet on a 0.0459-acre lot. The structure uses block and brick construction and has a flat roof. R6 zoning is in place, with potential applications identified for tutoring, clinical services, legal practice, accounting, and community entertainment. A tax abatement is also associated with the property.
The building is located at 824 56th Street in Brooklyn, NY 11220, within Kings County. Its compact footprint and office classification provide a straightforward setting for professional or service-oriented occupancy, subject to applicable zoning and use requirements.
The building is located at 824 56th Street in Brooklyn, NY 11220, within Kings County. Its compact footprint and office classification provide a straightforward setting for professional or service-oriented occupancy, subject to applicable zoning and use requirements.
Key Highlights
- 1,100‑square‑foot office building
- 0.0459‑acre lot
- Newly renovated interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,848
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,960
$657.0K
Cap Rate 7%
$469,257
$469.3K
Cap Rate 9%
$364,978
$365.0K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$55.4K $50.40/SF
− Vacancy
−$11.6K −$10.58/SF
EGI
$43.8K $39.82/SF
− OpEx
−$10.9K −$9.95/SF
NOI
$32.8K $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 Rate 5%
$656,960
Cap Rate 7%
$469,257
Cap Rate 9%
$364,978
Alternative Uses
Best Use
Office B
$469.3K
$410.6K – $547.5K
NOI $32,848 @ 7.0% cap · market cap 2.86%
Second Best
Healthcare Medical
$318.6K
$278.8K – $371.7K
NOI $22,303 @ 7.0% cap · market cap 1.94%
Theoretical Best
Office A
$713.1K
$624.0K – $832.0K
NOI $49,917 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,626
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 building - Newly renovated office property with R6 zoning and a flat roof.
Where is this office building located?
The property is located at 824 56th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 1,100‑square‑foot office building; 0.0459‑acre lot; Newly renovated interior
