Second-Floor Office
For Sale
$1,190,000
867 53rd Street #2 2, Brooklyn, NY 11220
Tenant-occupied office unit in a 2023 elevator building with an existing educational and office use.
Property Size1,439 SF
Price / SF$826.96
Days on Market182
Property Features for 867 53rd Street #2 2
General Information
Standard status
Active
Size
1,439 SF
Property subtype
Commercial
Listing Agency:
Tiger Realty
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Source:
Prideestates
Added: Apr 24
Changed: Oct 20
Last Checked: Oct 20 at 8:35PM
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 Tiger Realty
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Investment Insights
Based on property information with market context.
This 1,439-square-foot office unit occupies the second floor of an elevator-equipped commercial condominium building completed in 2023. The space is currently leased for cram school and office operations, providing an established occupancy profile for the property.
Located in Brooklyn’s Sunset Park, the unit benefits from a 15-year tax abatement and is one of seven commercial condominium units offered within the property. The building is described as being in excellent condition, and the purchaser may acquire the units individually or together.
Located in Brooklyn’s Sunset Park, the unit benefits from a 15-year tax abatement and is one of seven commercial condominium units offered within the property. The building is described as being in excellent condition, and the purchaser may acquire the units individually or together.
Key Highlights
- 1,439‑square‑foot second‑floor office unit
- Currently occupied for cram school and office use
- 2023 elevator building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,971
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,420
$859.4K
Cap Rate 7%
$613,871
$613.9K
Cap Rate 9%
$477,456
$477.5K
Market Conditions
NOI Build-Up for 1,439 SF
Gross rent
$72.5K $50.40/SF
− Vacancy
−$15.2K −$10.58/SF
EGI
$57.3K $39.82/SF
− OpEx
−$14.3K −$9.95/SF
NOI
$43.0K $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 Rate 5%
$859,420
Cap Rate 7%
$613,871
Cap Rate 9%
$477,456
Alternative Uses
Best Use
Office B
$613.9K
$537.1K – $716.2K
NOI $42,971 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$932.9K
$816.3K – $1.09M
NOI $65,301 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,955
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Tenant-occupied office unit in a 2023 elevator building with an existing educational and office use.
Where is this office unit located?
The property is located at 867 53rd Street #2 2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 1,439‑square‑foot second‑floor office unit; Currently occupied for cram school and office use; 2023 elevator building
