Newly Renovated Brooklyn Commercial
824 56th Street Brooklyn, NY 11220
824 56th Street, Brooklyn, NY, 11220
$1,150,000
For Sale
$1,150,000
COMMERCIAL - Brooklyn, NY
Property Size1,100 SF
Lot Size0.05 Acres
Price / SF$1,045
Days on Market495
Property Features for 824 56th Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R6
- Basement
- Finished
- Standard status
- Active
- Size
- 1,100 SF
- Lot size
- 0.05 Acres
Building Details
- Building materials
- Block
- Roof type
- Flat
Listing Agency
E House Realty & Mgt. Inc.
(718) 680-2776
6005 7th Avenue, Brooklyn, NY
Listed by
Xiaodan (Ivy) Xu
(718) 680-2776
Added: Mar 10, 2025 Checked: Jul 17 at 2:06 am
MLS# 489855
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 commercial space is located in Brooklyn, New York. The property is zoned R6 and is suitable for use as a tutoring center, clinic, law office, accounting firm, or community entertainment venue. The property benefits from a tax abatement. The property has a size of 1100 square feet and is situated on a lot of 0.0459 acres.
Key Highlights
- Newly renovated building, ready for your business.
- R6 Zoning offers flexible usage possibilities.
- Take advantage of the tax abatement.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.4k | $50.40 |
| − Vacancy | −$11.6k | −$10.58 |
| EGI | $43.8k | $39.82 |
| − OpEx | −$10.9k | −$9.95 |
| NOI | $32.8k | $29.86 |
1,100 SF · lease $50.40/SF/yr · vacancy 21.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$469.3K
$410.6K – $547.5K
NOI $32,848 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Renovated commercial space suitable for various professional uses.
Where is this office units 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: Newly renovated building, ready for your business.; R6 Zoning offers flexible usage possibilities.; Take advantage of the tax abatement.
