Second-Floor Office Condominium
For Sale
$1,190,000
867 53rd Street, Brooklyn, NY 11220
Commercial, Brooklyn, NY
Property Size1,439 SF
Lot Size0.07 Acres
Price / SF$826.96
Days on Market188
Property Features for 867 53rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
1,439 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
843
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
(718) 382-0001
Added: Apr 2
Changed: Sep 7
Last Checked: Oct 6 at 1:06AM
MLS# 500175
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 second-floor office condominium contains 1,439 square feet within an elevator-equipped building completed in 2023. The unit is currently occupied for office and cram school use, providing an established operating configuration for the space. The building features a tile roof and is designated R6.
Located at 867 53rd Street in Brooklyn, the property is identified within the Sunset Park area and carries a 15-year tax abatement. The unit is one of seven commercial condominium units referenced as available for purchase, with the option to acquire the units together.
Located at 867 53rd Street in Brooklyn, the property is identified within the Sunset Park area and carries a 15-year tax abatement. The unit is one of seven commercial condominium units referenced as available for purchase, with the option to acquire the units together.
Key Highlights
- 1,439‑square‑foot second‑floor office condominium unit
- Currently occupied for office and cram school use
- 2023 construction with elevator access
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,955
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Occupied second-floor office unit in a 2023 elevator building with current office and educational use.
Where is this office units located?
The property is located at 867 53rd Street 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 condominium unit; Currently occupied for office and cram school use; 2023 construction with elevator access
