Leased Storefront With
For Sale
$1,699,000
867 53rd Street, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size2,199 SF
Lot Size0.07 Acres
Price / SF$772.62
Days on Market141
Property Features for 867 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
2,199 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1107
Amenities
elevator building
Building Details
Year built
2023
Number of units
1
Building materials
Brick
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yan Mei (Jamie) Zheng
(917) 708-9966
Added: Apr 2
Changed: Aug 4
Last Checked: Aug 20 at 11:06AM
MLS# 500183
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 2,199-square-foot storefront condominium occupies the first level of a 2023 brick elevator building. The space includes direct use of the basement and is currently leased to a tenant operating a senior center. The property is classified R6 and forms part of a seven-unit commercial condominium offering.
Located at 867 53rd Street in Brooklyn, the building provides elevator access and was constructed in 2023. A 15-year tax abatement is associated with the property, adding a defined tax benefit to the existing leased configuration.
Located at 867 53rd Street in Brooklyn, the building provides elevator access and was constructed in 2023. A 15-year tax abatement is associated with the property, adding a defined tax benefit to the existing leased configuration.
Key Highlights
- 2,199 square feet of first‑level commercial space
- Direct use of the basement
- Currently leased to a tenant operating a senior center
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
$58,056
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
3.42%
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%
$1,161,120
$1.2M
Cap Rate 7%
$829,371
$829.4K
Cap Rate 9%
$645,067
$645.1K
Market Conditions
NOI Build-Up for 2,199 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
$92.4K $42.00/SF
− Vacancy
−$9.4K −$4.28/SF
EGI
$82.9K $37.72/SF
− OpEx
−$24.9K −$11.31/SF
NOI
$58.1K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,161,120
Cap Rate 7%
$829,371
Cap Rate 9%
$645,067
Alternative Uses
Best Use
Retail
$829.4K
$725.7K – $967.6K
NOI $58,056 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,789 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,955
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 15%
Home Improvements & Furnishings 8%
Electronics 5%
BP
Shops & Services
19,079 visits/mo
0.4 miles
Golden Dragon
Dining
4,268 visits/mo
0.5 miles
FedEx Office Print & Ship Center
Shops & Services
3,716 visits/mo
0.4 miles
W 8 Electric Supply Corp.
Home Improvements & Furnishings
2,500 visits/mo
0.4 miles
T-Mobile
Electronics
1,609 visits/mo
0.3 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?
Storefront property - First-level commercial condominium with basement access, an existing senior-center tenant, and elevator service in a 2023 brick building.
Where is this storefront property located?
The property is located at 867 53rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 2,199 square feet of first‑level commercial space; Direct use of the basement; Currently leased to a tenant operating a senior center
