Renovated Office
For Sale
$900,000
824 56th Street Ground Ground, Brooklyn, NY 11220
R6-zoned office space suited to professional, clinical, tutoring, and community-oriented uses.
Property Size1,100 SF
Price / SF$818.18
Days on Market95
Property Features for 824 56th Street Ground Ground
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Commercial
Zoning
R6
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Xiaodan (Ivy) Xu
(718) 680-2776
Source:
Prideestates
Added: Jul 20
Changed: Oct 8
Last Checked: Oct 20 at 7:55PM
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 E House Realty & Mgt. Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This newly renovated office unit is located at 824 56th Street Ground in Brooklyn. The property carries R6 zoning and is positioned for several professional and community-focused applications, including a tutoring center, clinic, law office, accounting firm, or community entertainment use.
The property information also notes a tax abatement associated with the building.
The property information also notes a tax abatement associated with the building.
Key Highlights
- Newly renovated office unit
- R6 zoning
- Suitable for tutoring center, clinic, law office, or accounting firm use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,848
Cap Rate
3.65%
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 3.65%
Second Best
Healthcare Medical
$318.6K
$278.8K – $371.7K
NOI $22,303 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$713.1K
$624.0K – $832.0K
NOI $49,917 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - R6-zoned office space suited to professional, clinical, tutoring, and community-oriented uses.
Where is this office unit located?
The property is located at 824 56th Street Ground Ground Brooklyn, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Newly renovated office unit; R6 zoning; Suitable for tutoring center, clinic, law office, or accounting firm use
