Brooklyn Commercial Condo For
For Sale
$1,068,000
867 53rd Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size1,335 SF
Lot Size0.07 Acres
Price / SF$800
Days on Market122
Property Features for 867 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
1,335 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
678
Building Details
Year built
2023
Number of units
1
Roof type
Tile
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Added: Apr 2
Changed: May 12
Last Checked: Aug 1 at 12:06PM
MLS# 500181
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 commercial condo unit, located in Sunset Park, Brooklyn, spans 1,335 square feet. Situated on the sixth floor of an elevator building, the unit is currently occupied by a tenant operating a cram school for children. The property generates an estimated gross annual income of $54,000. The building is in excellent condition and benefits from a 15-year tax abatement. Monthly common charges are $545. Owner financing is available at a 6% rate, with the possibility of closing. This investment allows for immediate rent collection upon closing. The lot size is 0.0654 acres. The zoning is R6. There are seven commercial condo units available and buyers have the option to purchase all units together.
Key Highlights
- Immediate Rental Income: Collect rent upon closing with existing tenant.
- 15‑Year Tax Abatement: Significant property tax savings.
- Owner Financing Available: 6% financing rate offers accessibility.
Financial Insights For Retail
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 | $56.1k | $42.00 |
| − Vacancy | −$5.7k | −$4.28 |
| EGI | $50.4k | $37.72 |
| − OpEx | −$15.1k | −$11.31 |
| NOI | $35.2k | $26.40 |
1,335 SF · lease $42.00/SF/yr · vacancy 10.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$503.5K
$440.6K – $587.4K
NOI $35,246 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$865.4K
$757.3K – $1.01M
NOI $60,581 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,411
Businesses Nearby
92k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Dining 27%
Shops & Services 20%
Apparel 7%
Key Food
Groceries
17,068 visits/mo
0.5 miles
Bravo Supermarkets
Groceries
15,635 visits/mo
0.4 miles
Dunkin' Donuts
Dining
15,098 visits/mo
0.3 miles
Chase Bank
Shops & Services
13,539 visits/mo
0.2 miles
Carvel Ice Cream
Dining
5,481 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial condo in Sunset Park with immediate rental income.
Where is this retail space located?
The property is located at 867 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: Immediate Rental Income: Collect rent upon closing with existing tenant.; 15‑Year Tax Abatement: Significant property tax savings.; Owner Financing Available: 6% financing rate offers accessibility.
