Two-Level Daycare Commercial
For Sale
$3,990,000
880 60th Street, Brooklyn, NY 11220
Commercial Sale, Brooklyn, NY
Property Size4,785 SF
Lot Size0.09 Acres
Price / SF$833.86
Days on Market402
Property Features for 880 60th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Directions
Google Maps
Standard status
Active
APN
05714-1001
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
54498
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Ductless
Water source
Public
Building Details
Year built
2000
Floors in Building
2
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Jul 18, 2025
Changed: Aug 20
Last Checked: Aug 23 at 8:06PM
MLS# 887843
Copyright © 2026 OneKey MLS. 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 two-level commercial condominium encompasses approximately 4,785 square feet and is leased to an established daycare center under a long-term lease. The ground floor contains three classrooms, an administrative office, and two restrooms. Upstairs are two more classrooms, two restrooms, a full kitchen, storage, and an outdoor playground on the terrace. Split-unit air conditioning serves the classrooms, with ceiling heights of approximately 8 to 8.5 feet.
The property includes a separately deeded parking space that is available for purchase. Building systems include ductless cooling, forced-air heating, natural gas, public water, and public sewer. Constructed in 2000, the condominium is located near the N train and multiple bus lines in Brooklyn’s 8th Avenue commercial corridor. The property is offered with a 6.91% cap rate and an in-place long-term tenancy.
The property includes a separately deeded parking space that is available for purchase. Building systems include ductless cooling, forced-air heating, natural gas, public water, and public sewer. Constructed in 2000, the condominium is located near the N train and multiple bus lines in Brooklyn’s 8th Avenue commercial corridor. The property is offered with a 6.91% cap rate and an in-place long-term tenancy.
Key Highlights
- Approximately 4,785 square feet across two levels
- Leased to an established daycare center under a long‑term lease
- Five classrooms, administrative office, four restrooms, kitchen, and storage room
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
$127,600
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
3.20%
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%
$2,552,000
$2.6M
Cap Rate 7%
$1,822,857
$1.8M
Cap Rate 9%
$1,417,778
$1.4M
Market Conditions
NOI Build-Up for 4,785 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
$241.2K $50.40/SF
− Vacancy
−$9.2K −$1.92/SF
EGI
$232.0K $48.48/SF
− OpEx
−$104.4K −$21.82/SF
NOI
$127.6K $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,552,000
Cap Rate 7%
$1,822,857
Cap Rate 9%
$1,417,778
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.60M – $2.13M
NOI $127,600 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,139 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,788
Businesses Nearby
Balanced
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
Questions? Ask Rey
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Similar Off Market Nearby
- Little Sprouts Bay Ridge Day Care LLC. — 650 77th St, Brooklyn, NY 11209
- The Tot Spot Family Daycare — 1135 Ovington Ave, Brooklyn, NY 11219
- District 20 Pre-K Center @ 7415 Fort Hamilton Parkway — 7415 Fort Hamilton Pkwy, Brooklyn, NY 11228
- HeartShare St. Vincent's Services @ McKinley I.S. 259 Beacon Program — 7301 Fort Hamilton Pkwy, Brooklyn, NY 11228
- Tender Loving Care Family Day — 1151 Ovington Ave, Brooklyn, NY 11219
Frequently Asked Questions
What type of property is this?
Day care center - Leased childcare facility with classrooms, administrative space, kitchen, playground terrace, and separate parking availability.
Where is this day care center located?
The property is located at 880 60th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Approximately 4,785 square feet across two levels; Leased to an established daycare center under a long‑term lease; Five classrooms, administrative office, four restrooms, kitchen, and storage room
