Brooklyn Commercial Condo For
For Sale
$695,000
Pending
849 53rd St CF-11, Brooklyn, NY 11220
836 sqft commercial condo ideal for office or community facility.
Property Size836 SF
Lot Size0.09 Acres
Days on Market160
Property Features for 849 53rd St CF-11
General Information
Standard status
Pending
Size
836 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$676
Building Details
Building Size
836 SF
Year Built
2023
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Mengying (Ivy) Chen · License #10401302254
(718) 612-3088
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 14 at 6:03AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This 836 sqft commercial condo is located on the 6th floor of a secure elevator building in Sunset Park, Brooklyn. The space is suitable for healthcare professionals, therapists, or community organizations. The location provides convenient access to public transit, shops, and dining. The property is near the N/R trains, buses, and major highways including the BQE and Gowanus Expressway. It is also near Sunset Park, Industry City, and Downtown Brooklyn. The property has 23 years remaining on a tax abatement, resulting in current annual property taxes of $676. The building has a professional atmosphere. The neighborhood has strong foot traffic and growing commercial development, making it a high-demand area. The condo is ideal for a doctor’s office, dental practice, therapy center, or nonprofit community facility. The monthly maintenance is $290.
Key Highlights
- 23 years remaining on tax abatement resulting in very low annual property taxes ($676).
- Prime Brooklyn location in Sunset Park, steps from public transit (N/R trains, buses) and major highways.
- Versatile 836 sqft space ideal for office or community facility use (doctor's office, therapy center, etc.).
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
$24,965
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
3.59%
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%
$499,300
$499.3K
Cap Rate 7%
$356,643
$356.6K
Cap Rate 9%
$277,389
$277.4K
Market Conditions
NOI Build-Up for 836 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
$42.1K $50.40/SF
− Vacancy
−$8.8K −$10.58/SF
EGI
$33.3K $39.82/SF
− OpEx
−$8.3K −$9.95/SF
NOI
$25.0K $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%
$499,300
Cap Rate 7%
$356,643
Cap Rate 9%
$277,389
Alternative Uses
Best Use
Office B
$356.6K
$312.1K – $416.1K
NOI $24,965 @ 7.0% cap · market cap 3.59%
Second Best
Healthcare Medical
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$542.0K
$474.2K – $632.3K
NOI $37,937 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,809
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - 836 sqft commercial condo ideal for office or community facility.
Where is this medical office space located?
The property is located at 849 53rd St CF-11 Brooklyn, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 23 years remaining on tax abatement resulting in very low annual property taxes ($676).; Prime Brooklyn location in Sunset Park, steps from public transit (N/R trains, buses) and major highways.; Versatile 836 sqft space ideal for office or community facility use (doctor's office, therapy center, etc.).
