Community Facility Office
New
For Sale
$3,200,000
950 55th St, Brooklyn, NY 11219
Two combined office units offer a community-facility layout with access to public transit.
Property Size4,000 SF
Price / SF$800
Days on Market2
Property Features for 950 55th St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Additional Details
HOA Fee
$1,712
Public Transit
Yes
Office Units
2
Property Use
Community Facility Office
Taxes and HOA fees
Annual Taxes
$7,772
Building Details
Building Size
4,000 SF
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Selyna D. Eng
(718) 680-2776
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 3:25PM
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 E House Realty & Mgt. Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 950 55th St in Brooklyn, this office property combines Units 1B and 1C into approximately 4,000 square feet of community-facility space. The configuration is described as an office facility, with a tax abatement that has approximately 20 years remaining.
The property is in a high-foot-traffic area with public transit access. Its Walk Score is 95, Transit Score is 89, and Bike Score is 58.
The property is in a high-foot-traffic area with public transit access. Its Walk Score is 95, Transit Score is 89, and Bike Score is 58.
Key Highlights
- Approximately 4,000 sq ft across combined Units 1B and 1C
- Community‑facility office space
- Approximately 20 years remain on the tax abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,512
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,190,240
$2.2M
Cap Rate 7%
$1,564,457
$1.6M
Cap Rate 9%
$1,216,800
$1.2M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$187.2K $46.80/SF
− Vacancy
−$41.2K −$10.30/SF
EGI
$146.0K $36.50/SF
− OpEx
−$36.5K −$9.13/SF
NOI
$109.5K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,190,240
Cap Rate 7%
$1,564,457
Cap Rate 9%
$1,216,800
Alternative Uses
Best Use
Office B
$1.56M
$1.37M – $1.83M
NOI $109,512 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,517 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
7,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Two combined office units offer a community-facility layout with access to public transit.
Where is this office unit located?
The property is located at 950 55th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Approximately 4,000 sq ft across combined Units 1B and 1C; Community‑facility office space; Approximately 20 years remain on the tax abatement
