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    720 57Th St Brooklyn, NY 11220

    Sponsored
    For Sale
    $2,838,000

    Prime Brooklyn location, 6,000 SF commercial lot.

    Property size:
    2,830 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 6,000 square foot commercial land parcel presents a remarkable investment opportunity in the vibrant Sunset Park neighborhood of Brooklyn, New York. Located at 720 57th Street, 1CF, this property boasts a prime location within a thriving commercial district. Currently, the land is improved with a commercial building leased to an adult recreational center generating a monthly income of $11,000. The asking price for this exceptional property is $2,838,000. The property's zoning and permitted uses should be independently verified. The building's square footage is 2,830 square feet, and the ceiling height is noted as "Other," requiring further investigation. This presents a unique chance to acquire a well-situated commercial property in a rapidly developing area of Brooklyn, offering significant potential for future growth and return on investment. The property is situated in Kings County (Brooklyn), New York, with a zip code of 11220. The geographic coordinates are 40.637981 latitude and -74.009565 longitude. This is a rare opportunity to own a piece of Brooklyn's dynamic commercial landscape. Serious inquiries only.

    Property Features for 720 57Th St

    General Information

    Property type
    Land
    Square Feet
    2,830 SF

    HighLights

    • $2,838,000 asking price.
    • 2,830 square foot commercial land parcel.
    • Located at 720 57th Street, 1CF, Brooklyn, NY 11220.
    • 6,000 square foot lot size.
    • Currently leased to an adult recreational center for $11,000 per month.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brooklyn Elite Center ... Kindergarten apartment Hotel Brooklyn Asian Civilian ... Public Safety Office

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -74.009565
    Latitude
    40.637981

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    FAQs

    What type of property is this?
    Land - Prime Brooklyn location, 6,000 SF commercial lot.
    Where is this land located?
    The property is located at 720 57Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,838,000.
    What are key features of this property?
    This property features: $2,838,000 asking price.; 2,830 square foot commercial land parcel.; Located at 720 57th Street, 1CF, Brooklyn, NY 11220.
    Request Owner's contact information
    720 57Th St Brooklyn, NY 11220
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    Brooklyn, NY 11220
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    720 57Th St Brooklyn, NY 11220
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