Community Facility Office
New
For Sale
$3,200,000
950 55th Street, Brooklyn, NY 11219
Commercial, Brooklyn, NY
Property Size4,000 SF
Lot Size0.12 Acres
Price / SF$800
Days on Market3
Property Features for 950 55th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
4,000 SF
Lot size
0.12 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Annual Amount
7772
Building Details
Number of units
2
Building materials
Brick
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
David Feng · License #DZF0252
(718) 680-2776
Added: Oct 29
Last Checked: Oct 31 at 1:06PM
MLS# 505641
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.
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Investment Insights
Based on property information with market context.
At 950 55th Street, Units 1B and 1C are combined into an approximately 4,000-square-foot office property. The space is identified for community-facility use, has brick construction, and is zoned R6. A tax abatement has approximately 20 years remaining.
The property is in Brooklyn, NY, in a high-foot-traffic area with access to public transit.
The property is in Brooklyn, NY, in a high-foot-traffic area with access to public transit.
Key Highlights
- Approx. 4,000 sq ft combining Units 1B + 1C
- R6 zoning and community‑facility office designation
- Approximately 20 years remaining 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
Healthcare Medical
$1.20M
$1.05M – $1.41M
NOI $84,326 @ 7.0% cap · market cap 2.64%
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.
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Current Use
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - A multi-unit office property designated for community-facility use sits in a high-foot-traffic area with public transit access.
Where is this office unit located?
The property is located at 950 55th Street 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: Approx. 4,000 sq ft combining Units 1B + 1C; R6 zoning and community‑facility office designation; Approximately 20 years remaining on the tax abatement
